Financial Report

3 Months Ended
Mar. 31, 2015
Document and Entity Information

Document And Entity Information
[Abstract]
Document Type
Amendment Flag
Document Period End Date
Document Fiscal Year Focus
Document Fiscal Period Focus
Trading Symbol
Entity Registrant Name
Entity Central Index Key
Current Fiscal Year End Date
Entity Filer Category
Entity Common Stock, Shares Outstanding
10-Q
0
31-Mar-15
2015
Q1
MGM
MGM Resorts International
789570
-19
Large Accelerated Filer
5-May-15
563,042,468
Consolidated Balance Sheets (USD $)

In Thousands, unless otherwise
specified
Current assets
Cash and cash equivalents
Cash deposits - original maturities longer
than 90 days
$2,195,535
Accounts receivable, net

Inventories
Income tax receivable
Prepaid expenses and other
Total current assets
Property and equipment, net
Other assets
Investments in and advances to
unconsolidated affiliates
Goodwill
Other intangible assets, net
Other long-term assets, net
Total other assets
Total assets
Current liabilities
Accounts payable
Construction payable
Deferred income taxes, net
Current portion of long-term debt
Accrued interest on long-term debt
Other accrued liabilities
Total current liabilities
Long-term debt
Other long-term obligations
Commitments and contingencies (Note 6)
Capital in excess of par value

Retained earnings (accumulated deficit)
$1,713,715
461,751
103,286
7,725
188,310
2,956,607
14,561,951
570,000
473,345
104,011
14,675
151,414
3,027,160
14,441,542
1,661,444
2,898,127
4,309,206
411,112
9,279,889
26,798,447
1,559,034
2,897,110
4,364,856
412,809
9,233,809
26,702,511
187,325
125,720
70,552
164,252
170,439
62,142
1,245,320
191,155
1,574,617
3,407,925
2,621,860
12,913,882
130,570
184,205
1,327,959
1,895,761
2,547,150
14,551,810
150,691
Stockholders' equity
Common stock, $.01 par value: authorized
1,000,000,000 shares, issued and
outstanding 491,335,813 and 491,292,117
shares
Dec. 31,
2014
Mar. 31, 2015
4,913
4,192,684
4,913
4,180,922
61,941
-107,909
Accumulated other comprehensive income

Total MGM Resorts International stockholders'
equity
Noncontrolling interests
Total stockholders' equity
Total liabilities and stockholders' equity
13,580
12,991
4,273,118
3,379,917
7,653,035
4,090,917
3,537,357
7,628,274
$26,798,447
$26,702,511
Consolidated Balance Sheets

(Parenthetical) (USD $)
Statement Of Financial Position
[Abstract]
Common stock, par value (in dollars per
share)
Common stock, authorized shares
Common stock, issued shares
Common stock, outstanding shares
Mar. 31, 2015 Dec. 31, 2014
$0.01
$0.01
1,000,000,000 1,000,000,000
491,335,813
491,292,117
491,335,813
491,292,117
Consolidated Statements of Operations

3 Months Ended
(USD $)
In Thousands, except Per Share data,
Mar. 31, 2015 Mar. 31, 2014
unless otherwise specified
Revenues
Casino
$1,278,502
$1,583,432
Rooms
459,425
452,386
Food and beverage
384,101
383,392
Entertainment
125,968
133,777
Retail
45,037
44,616
Other
126,550
125,427
Reimbursed costs
101,060
94,975
Total revenues, gross
2,520,643
2,818,005
Less: Promotional allowances
-188,399
-187,607
Total revenues, net
2,332,244
2,630,398
Expenses
Casino
782,808
990,834
Rooms
141,313
134,238
Food and beverage
221,521
220,058
Entertainment
96,999
98,937
Retail
24,096
23,476
Other
84,323
87,577
Reimbursed costs
101,060
94,975
General and administrative
328,173
319,246
Corporate expense
50,356
53,351
Preopening and start-up expenses
15,871
5,636
Property transactions, net
1,589
558
Depreciation and amortization
206,412
207,655
Total expenses
2,054,521
2,236,541
Income from unconsolidated affiliates
117,381
22,615
Operating income
395,104
416,472
Non-operating income (expense)
Interest expense, net of amounts capitalized
-216,262
-209,387
Non-operating items from unconsolidated
affiliates
-19,011
-22,215
Other, net
-3,490
-1,434
Total non-operating income (expense)
-238,763
-233,036
Income before income taxes
156,341
183,436
Benefit for income taxes
56,305
2,664
Net income
212,646
186,100
Less: Net income attributable to
noncontrolling interests
-42,796
-83,448
Net income attributable to MGM Resorts

International
$169,850
$102,652
$0.35
$0.33
$0.21
$0.20
Net income per share of common stock

attributable to MGM Resorts
International
Basic
Diluted
Consolidated Statements of
Comprehensive Income (USD $)
specified
Statement Of Income And
Comprehensive Income [Abstract]
Net income
Other comprehensive income (loss), net
of tax:
3 Months Ended
Mar. 31, 2015 Mar. 31, 2014
$212,646
$186,100
Foreign currency translation adjustment

Other
Other comprehensive income (loss)
Comprehensive income
Less: Comprehensive income attributable to
Comprehensive income attributable to MGM
Resorts International
2,476
-672
1,804
214,450
-2,760
1,250
-1,510
184,590
-44,011
-82,205
$170,439
$102,385
Consolidated Statements of Cash Flows

3 Months Ended
(USD $)
Mar. 31, 2015 Mar. 31, 2014
specified
Cash flows from operating activities
Net income
$212,646
$186,100
Adjustments to reconcile net income to
net cash provided by operating
activities:
Amortization of debt discounts, premiums
and issuance costs
Provision for doubtful accounts
Stock-based compensation
Distributions from unconsolidated affiliates
Deferred income taxes
Change in operating assets and
liabilities:
Accounts receivable
Inventories
Income taxes receivable and payable, net
Prepaid expenses and other
Prepaid Cotai land concession premium
206,412
207,655
9,782
17,955
10,676
1,589
-97,697
9,402
9,834
8,195
558
-381
4,039
-68,648
3,703
-6,782
-6,350
731
-14,186
6,349
6,879
-37,386
5,736
-29,736
-12,953
-12,945
-77,428
5,401
-87,934
5,227
175,648
290,795
-292,329
-192,751
164
135
-160,079
-32,175
1,111
497
Accounts payable and accrued liabilities

Other
Net cash provided by operating activities
Cash flows from investing activities
Capital expenditures, net of construction
payable
Dispositions of property and equipment
Distributions from unconsolidated affiliates in
excess of earnings
Investments in treasury securities maturities longer than 90 days
-54,064
Proceeds from treasury securities - maturities

longer than 90 days
than 90 days
Other
Net cash provided by (used in) investing
activities
63,063
570,000
-2,070
1,226
116,797
-214,069
-1,318,626
-1,735,125
1,710,625
1,728,125
-508,900
-202,624
-152
-247,140
-1,648
189,223
704
-764,688
-971
482,372
-688,933
-552
1,713,715
2,195,535
1,803,669
1,114,736
213,430
200,226
4,747
3,864
Cash flows from financing activities

Net repayments under bank credit facilities
b_x0013_ maturities of 90 days or less
Borrowings under bank credit facilities
b_x0013_ maturities longer than 90 days
Retirement of senior notes
Distributions to noncontrolling interest
owners
Other
Net cash provided by (used in) financing
activities
Effect of exchange rate on cash
Net increase (decrease) for the period
Change in cash related to assets held for sale
Balance, beginning of period
Balance, end of period
Supplemental cash flow disclosures
Interest paid, net of amounts capitalized
Federal, state and foreign income taxes paid,
net of refunds
Non-cash investing and financing
activities
Increase (decrease) in investment in and
advances to CityCenter related to change in
completion guarantee liability
($8,198)
$12,306
Organization
Organization Consolidation And
Presentation Of Financial Statements
[Abstract]
Organization
3 Months Ended
Mar. 31, 2015
NOTE 1 ORGANIZATION
Organization. MGM Resorts International (the Company) is

a Delaware corporation that acts largely as a holding company
and, through wholly owned subsidiaries, owns and/or operates
casino resorts. The Company owns and operates the following
casino resorts in Las Vegas, Nevada: Bellagio, MGM Grand
Las Vegas, The Mirage, Mandalay Bay, Luxor, New York-New
York, Monte Carlo, Excalibur and Circus Circus Las Vegas.
Operations at MGM Grand Las Vegas include management of
The Signature at MGM Grand Las Vegas, a condominiumhotel consisting of three towers. The Company owns and
operates Circus Circus Reno in Reno, Nevada. In April 2015,
the Company sold Railroad Pass in Henderson, Nevada and
Gold Strike in Jean, Nevada, as discussed in Note 3. Along
with local investors, the Company owns and operates MGM
Grand Detroit in Detroit, Michigan. The Company owns and
operates two resorts in Mississippi: Beau Rivage in Biloxi and
Gold Strike Tunica. The Company also owns Shadow Creek,
an exclusive world-class golf course located approximately ten
miles north of its Las Vegas Strip resorts, Primm Valley Golf
Club at the California/Nevada state line and Fallen Oak golf
course in Saucier, Mississippi.
The Company owns 51% and has a controlling interest in

MGM China Holdings Limited (MGM China), which owns
MGM Grand Paradise, S.A. (MGM Grand Paradise), the
Macau company that owns and operates the MGM Macau
resort and casino and the related gaming subconcession and
land concession. MGM Grand Paradise also has a land
concession contract with the government of Macau to develop
a second resort and casino on an approximately 18 acre site in
Cotai, Macau (MGM Cotai). MGM Cotai will be an
integrated casino, hotel and entertainment resort and is
currently expected to have approximately 1,500 hotel rooms,
500 gaming tables and 1,500 slots. The total estimated project
budget is $3.0 billion, excluding development fees eliminated
in consolidation, capitalized interest and land related costs.
The Company owns 50% of CityCenter, located between

Bellagio and Monte Carlo. The other 50% of CityCenter is
owned by Infinity World Development Corp, a wholly owned
subsidiary of Dubai World, a Dubai, United Arab Emirates
government decree entity. CityCenter consists of Aria, a casino
resort; Mandarin Oriental Las Vegas, a non-gaming boutique
hotel; Crystals, a retail, dining and entertainment district; and
Vdara, a luxury condominium-hotel. In addition, CityCenter
features residential units in the Residences at Mandarin
Oriental and Veer. The Company receives a management fee of
2% of revenues for the management of Aria and Vdara, and 5%
of EBITDA (as defined in the agreements governing the
Companys management of Aria and Vdara). In addition, the
Company receives an annual fee of $3 million for the
management of Crystals. See Notes 4 and 6 for additional
information related to CityCenter.
The Company owns 50% of the Borgata Hotel Casino & Spa
(Borgata) located on Renaissance Pointe in the Marina area
of Atlantic City, New Jersey. Boyd Gaming Corporation owns
the other 50% of Borgata and also operates the resort. See
Note 4 for additional information regarding Borgata. The
Company also has 50% interests in Grand Victoria and Silver
Legacy. Grand Victoria is a riverboat casino in Elgin, Illinois;
an affiliate of Hyatt Gaming owns the other 50% of Grand
Victoria and also operates the resort. Silver Legacy is located
in Reno, adjacent to Circus Circus Reno, and the other 50% is
owned by Eldorado Resorts, Inc.
The Company has entered into management agreements for

future non-gaming hotels, resorts and residential products in
the Middle East, North Africa, India and the United States. In
2014, the Company and the Hakkasan Group formed MGM
Hakkasan Hospitality (MGM Hakkasan), owned 50% by
each member, to design, develop and manage luxury nongaming hotels, resorts and residences under certain brands
licensed from the Company and the Hakkasan Group. In
October 2014, the Company contributed all of the management
agreements for non-gaming hotels, resorts and residential
projects (outside of the greater China region) that are currently
under development to MGM Hakkasan. The Company will
continue to develop and manage properties in the greater China
region with Diaoyutai State Guesthouse, including MGM
Grand Sanya.
The Maryland Video Lottery Facility Location Commission has

awarded the Companys subsidiary developing MGM National
Harbor the license to build and operate a destination resort
casino in Prince Georges County at National Harbor. The
expected cost to develop and construct MGM National Harbor
is approximately $1.3 billion, excluding capitalized interest
and land related costs. The Company expects the resort to
include a casino with approximately 3,600 slots and 160 table
games including poker; a 300-room hotel with luxury spa and
rooftop pool; 79,000 square feet of highend branded retail and
fine and casual dining; a 3,000-seat theater venue; 50,000
square feet of meeting and event space; and a 4,700-space
parking garage.
The Companys subsidiary that will develop MGM Springfield

was awarded the Category One casino license in Region B,
Western Massachusetts, one of three licensing regions
designated by legislation, to build and operate MGM
Springfield. MGM Springfield will be developed on 14.5 acres
of land in downtown Springfield, Massachusetts. The expected
cost to develop and construct MGM Springfield is $760
million, excluding capitalized interest and land related costs.
The Company expects the resort will include a casino with
approximately 3,000 slots and 100 table games including
poker; a 250-room hotel; 64,000 square feet of retail and
restaurant space; 33,000 square feet of meeting and event
space; and a 3,500-space parking garage.
In 2013, the Company formed Las Vegas Arena Company, LLC

(the Las Vegas Arena Company) with a subsidiary of
Anschutz Entertainment Group, Inc. (AEG) - a leader in
sports, entertainment, and promotions - to design, construct,
and operate the Las Vegas Arena, which will be located on a
parcel of the Companys land between Frank Sinatra Drive and
New York-New York, adjacent to the Las Vegas Strip. The
Company and AEG each own 50% of Las Vegas Arena
Company. The Las Vegas Arena is anticipated to seat between
18,000 20,000 people. Such development is estimated to cost
approximately $350 million, excluding capitalized interest and
land related costs.
The Company has two reportable segments: wholly owned

domestic resorts and MGM China. See Note 10 for additional
information about the Companys segments.
Basis of Presentation and Significant

Accounting Policies
Accounting Policies [Abstract]
Accounting Policies
3 Months Ended
Mar. 31, 2015
NOTE 2 BASIS OF PRESENTATION AND

SIGNIFICANT ACCOUNTING POLICIES
Basis of presentation. As permitted by the rules and

regulations of the Securities and Exchange Commission,
certain information and footnote disclosures normally included
in financial statements prepared in accordance with accounting
principles generally accepted in the United States have been
condensed or omitted. These consolidated financial statements
should be read in conjunction with the Companys 2014 annual
consolidated financial statements and notes thereto included in
the Companys Annual Report on Form 10-K for the year
ended December 31, 2014.
In the opinion of management, the accompanying unaudited

consolidated financial statements contain all adjustments,
which include only normal recurring adjustments, necessary to
present fairly the Companys interim financial statements. The
results for such periods are not necessarily indicative of the
results to be expected for the full year.
The consolidated financial statements have been retroactively

adjusted to reflect the Companys investment in Borgata under
the equity method for all periods presented in this quarterly
report. The impact of the retroactive adjustments on net income
for the three months ended March 31, 2014 was a decrease of
$6 million.
Fair value measurements. Fair value measurements affect the

Companys accounting and impairment assessments of its
long-lived assets, investments in unconsolidated affiliates, cost
method investments, assets acquired and liabilities assumed in
an acquisition, and goodwill and other intangible assets. Fair
value measurements also affect the Companys accounting for
certain of its financial assets and liabilities. Fair value is
defined as the price that would be received to sell an asset or
paid to transfer a liability in an orderly transaction between
market participants at the measurement date and is measured
according to a hierarchy that includes: Level 1 inputs, such as
quoted prices in an active market; Level 2 inputs, which are
observable inputs for similar assets; or Level 3 inputs, which
are unobservable inputs. The Company uses Level 1 inputs for
its long-term debt fair value disclosures. See Note 5.
Property and equipment. As of March 31, 2015, the

Company had accrued $8 million for property and equipment
within Accounts payable and $28 million related to
construction retention in Other long-term obligations. In
addition, during the three months ended March 31, 2015, the
Company entered into capital leases with obligations of $16
million.
Income tax provision. For interim income tax reporting the

Company estimates its annual effective tax rate and applies it
to its year-to-date ordinary income. The tax effects of unusual
or infrequently occurring items, including changes in judgment
about valuation allowances and effects of changes in tax laws
or rates, are reported in the interim period in which they occur.
The Companys effective income tax rate was (36%) for the
three months ended March 31, 2015.
The Company recognizes deferred tax assets, net of applicable

reserves, related to tax loss and credit carryforwards and other
temporary differences with a future tax benefit to the extent
that realization of such benefit is more likely than
not. Otherwise, a valuation allowance is applied. As of
December 31, 2014, the scheduled future reversal of existing
U.S. federal taxable temporary differences exceeds the
scheduled future reversal of existing U.S. federal deductible
temporary differences. Consequently, the Company no longer
applies a valuation allowance against its domestic deferred tax
assets other than its foreign tax credit deferred tax asset.
The Company generates significant excess foreign tax credits

each year that are attributable to the Macau Special Gaming
Tax which is 35% of gross gaming revenue in Macau. Because
MGM China is presently exempt from the Macau 12%
complementary tax on gaming profits, the Company believes
that payment of the Macau Special Gaming Tax qualifies as a
tax paid in lieu of an income tax that is creditable against U.S.
taxes. As long as the exemption from Macaus 12%
complementary tax on gaming profits continues, the Company
expects that it will generate excess foreign tax credits on an
annual basis and that none of the excess foreign credits will be
utilized until the exemption expires. Although the Companys
current five-year exemption from the Macau 12%
complementary tax on gaming profits ends on December 31,
2016, the Company believes it will be entitled to receive a third
five-year exemption from Macau based upon exemptions
granted to the Companys competitors in order to ensure nondiscriminatory treatment among gaming concessionaires and
subconcessionaires. For all periods beyond December 31,
2021, the Company has assumed that it will be paying the
Macau 12% complementary tax on gaming profits and will
thus not be able to credit the Macau Special Gaming Tax in
such years, and has factored that assumption into its
assessment of the realization of the foreign tax credit deferred
tax asset. Furthermore, the Company does not rely on future
U.S. source operating income in assessing future foreign tax
credit realization due to its history of recent losses in the U.S.
and therefore only relies on U.S. federal taxable temporary
differences that it expects will reverse during the 10-year
foreign tax credit carryover period.
The Company projects that it will be able to realize a benefit

and, hence, projects that it will record a deferred tax asset for
foreign tax credits, net of valuation allowance, of
approximately $252 million as of December 31, 2015 and has
reflected this assumption in its annual effective tax rate for
2015. The Companys assessment of realization of its foreign
tax credit deferred tax asset is based on available evidence,
including assumptions about future profitability of and
distributions from MGM China, as well as its assumption
concerning renewals of the five-year exemption from Macaus
12% complementary tax on gaming profits. As a result,
significant judgment is required in assessing the possible need
for a valuation allowance and changes to such assumptions
may have a material impact on the amount of the valuation
allowance. For example, should the Company in a future
period actually receive or be able to assume an additional fiveyear exemption, an additional valuation allowance would likely
need to be provided on some portion or all of the foreign tax
credit deferred tax asset, resulting in an increase in the
provision for income taxes in such period and such increase
may be material. In addition, a change to forecasts of future
profitability of, and distributions from, MGM China could also
result in a material change in the valuation allowance with a
corresponding impact on the provision for income taxes in
such period.
Recently issued accounting standards. In May 2014, the

Financial Accounting Standards Board (FASB) issued
Accounting Standards Update No. 2014-09, Revenue from
Contracts with Customers, (ASU 2014-09), which is
effective for fiscal years, and interim periods within those
years, beginning on or after December 15, 2016. ASU 2014-09
outlines a new, single comprehensive model for entities to use
in accounting for revenue arising from contracts with
customers and supersedes most current revenue recognition
guidance, including industry-specific guidance. This new
revenue recognition model provides a five-step analysis in
determining when and how revenue is recognized.
Additionally, the new model will require revenue recognition
to depict the transfer of promised goods or services to
customers in an amount that reflects the consideration a
company expects to receive in exchange for those goods or
services. The Company is currently assessing the impact that
adoption of ASU 2014-09 will have on its consolidated
financial statements and footnote disclosures.
In February 2015, the FASB issued Accounting Standards

Update No. 2015-02, Amendments to the Consolidation
Analysis, (ASU 2015-02), which is effective for fiscal
years, and interim periods within those years, beginning after
December 15, 2015. ASU 2015-02 amends: the assessment of
whether a limited partnership is a variable interest entity; the
effect that fees paid to a decision maker have on the
consolidation analysis; how variable interests held by a
reporting entitys related parties or de facto agents affect its
consolidation conclusion; and for entities other than limited
partnerships, clarifies how to determine whether the equity
holders as a group have power over an entity. The Company is
currently assessing the impact that adoption of ASU 2015-02
will have on its consolidated financial statements and footnote
disclosures.
Assets Held For Sale

Property Plant And Equipment Assets
Held For Sale Disclosure [Abstract]
Assets Held for Sale
3 Months Ended
Mar. 31, 2015
NOTE 3 ASSETS HELD FOR SALE
On April 1, 2015, the Company closed the sale of Railroad

Pass. At closing, the Company received $8 million in cash
proceeds. The assets and liabilities of Railroad Pass have been
classified as held for sale as of March 31, 2015 and December
31, 2014. At March 31, 2015 and December 31, 2014, assets
held for sale of $10 million and $9 million, respectively,
comprised predominantly of property and equipment, are
classified within Prepaid expenses and other and liabilities
related to assets held for sale of $1 million and $2 million,
respectively, comprised of accounts payable and other accrued
liabilities, are classified within Other accrued liabilities.
On April 30, 2015, the Company closed the sale of Gold Strike
and related assets in Jean, Nevada. At closing, the Company
received $12 million in cash proceeds. The assets and liabilities
of Gold Strike have been classified as held for sale as of March
31, 2015 and December 31, 2014. Assets held for sale of $14
million, comprised predominantly of property and equipment,
are classified within Prepaid expenses and other at both
March 31, 2015 and December 31, 2014. Liabilities related to
assets held for sale of $2 million, comprised of accounts
payable and other accrued liabilities, are classified within
Other accrued liabilities at both March 31, 2015 and
December 31, 2014.
Railroad Pass and Gold Strike have not been classified as

discontinued operations because the Company has concluded
that the sales will not have a major effect on the Companys
operations or its financial results and it does not represent a
disposal of a major geographic segment or product line.
Investments in and Advances to

Unconsolidated Affiliates
Equity Method Investments And Joint
Ventures [Abstract]
3 Months Ended
Mar. 31, 2015
NOTE 4 INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED AFFILIATES

Investments in and advances to unconsolidated affiliates consisted of the following:
March 31,
2015
CityCenter Holdings, LLC CityCenter (50%)
1,305,707
Elgin Riverboat ResortRiverboat Casino Grand Victoria

(50%)
140,052
Marina District Development Company Borgata (50%)

Other
112,333
103,352
$
1,661,444
The Company recorded its share of the results of operations of unconsolidated affiliates as follows:
2015

117,381
(673
Non-operating items from unconsolidated affiliates
(19,011
$
97,697
CityCenter
Summarized balance sheet information for CityCenter is as follows:

March 31,
2015
Current assets
666,600
Property and other assets, net

Current liabilities
7,830,931
255,659
Long-term debt and other long-term obligations

Equity
1,553,008
6,688,864
Summarized income statement information for CityCenter is as follows:
2015
Net revenues
Operating expenses
Operating income
Non-operating expenses
318,239
(136,633
181,606
(18,005
Net income (loss)
163,601
CityCenter litigation settlement. In December 2014, the Company and CityCenter entered into a settlement agreement with Perini Buildin
insurers to resolve all outstanding project lien claims and CityCenters counterclaims relating to the Harmon Hotel and Spa. The settlement
subsequently executed, and CityCenters procurement of replacement general liability insurance covering construction of the CityCenter dev
combined with certain prior Harmon-related insurance settlement proceeds, resulted in a gain of $160 million recorded by CityCenter during
CityCenter dividend. In April 2015, CityCenter adopted an annual distribution policy and declared a special dividend of $400 million, of w
distribute up to 35% of excess cash flow, subject to the approval of the CityCenter board of directors.
LasVegasArena
See Note 6 for discussion of the Companys joint and several completion and repayment guarantees and equity contribution commitments re
3 Months Ended
Mar. 31, 2015
December 31,
2014
(In thousands)
1,221,306
141,162
109,252
87,314
1,559,034
Three Months Ended

March 31,
2014
(In thousands)
$
)
22,615
(19
(22,215
$
381
December 31,
2014
(In thousands)
561,904
7,883,709
508,168
1,552,913
6,384,532
Three Months Ended

March 31,
2014
(In thousands)
336,417
(331,454
4,963
(25,165
(20,202
)
)
agreement with Perini Building Company, Inc. (Perini), general contractor for CityCenter, the remaining Perini subcontractors and relevant
Hotel and Spa. The settlement was subject to execution of a global settlement agreement among the parties described above, which was
nstruction of the CityCenter development, which was obtained in January 2015. The proceeds pursuant to such global settlement agreement,
recorded by CityCenter during the first quarter of 2015, of which the Company recorded its 50% share of $80 million.
dividend of $400 million, of which the Company received its 50% share of $200 million. Under the annual distribution policy, CityCenter will
y contribution commitments related to the Las Vegas Arena.
)
)
)
)
)
ctors and relevant

which was
ent agreement,
cy, CityCenter will
Long-Term Debt
Debt Disclosure [Abstract]
Long-Term Debt
NOTE 5 LONG-TERM DEBT
Long-term debt consisted of the following:
March 31,
2015
Senior credit facility:

$2,737 million ($2,744 million at December 31,
2014) term loans, net
MGM Grand Paradise credit facility:
$550 million term loans
Revolving loans
$1,450 million 4.25% convertible senior notes, due 2015, net

$875 million 6.625% senior notes, due 2015, net
$242.9 million 6.875% senior notes, due 2016
$500 million 10% senior notes, due 2016, net
$743 million 7.625% senior notes, due 2017
$1,000 million 6.75% senior notes, due 2020
$1,250 million 6% senior notes, due 2023, net
$0.6 million 7% debentures, due 2036, net
$4.3 million 6.7% debentures, due 2096
Less: Current portion
$
Debt due within one year of the March 31, 2015 balance sheet date was classified as long-term as
has both the intent and ability to refinance other current maturities on a long-term basis under its
related to the Companys senior notes, convertible senior notes and term loan credit facilities. The
Senior credit facility. At March 31, 2015, the Companys senior credit facility consisted of a $1.
LIBOR plus an applicable rate determined by the Companys credit rating (2.75% as of March 31
2017 and the term loan B facility matures in December 2019. The term loan A and term loan B fa
Company permanently repaid $7 million in 2015 in accordance with the scheduled amortization.
loan A was 2.9% and the interest rate on the term loan B was 3.5%.
The land and substantially all of the assets of MGM Grand Las Vegas, Bellagio and The Mirage s
Gold Strike Tunica secure the entire amount of the senior credit facility and the land and substant
facility is secured by a pledge of the equity or limited liability company interests of the subsidiari
The senior credit facility contains customary representations and warranties and customary affirm
minimum trailing four-quarter EBITDA (as defined in the senior credit facility) and limits the abi
EBITDA of $1.25 billion. The minimum EBITDA requirement is $1.25 billion through June 30, 2
EBITDA for the trailing four quarters ended March 31, 2015, calculated in accordance with the te
unused amounts in any fiscal year rolling over to the next fiscal year, but not any fiscal year there
2014, was $794 million. In addition, the senior credit facility limits the Restricted Groups ability
expenditures and other investments for the 2015 calendar year.
The senior credit facility provides for customary events of default, including, without limitation,
insolvency, (v) judgment defaults in excess of specified amounts, (vi) the failure of any loan docu
lenders, or (vii) the security documents cease to create a valid and perfected first priority lien on a
license affecting a specified amount of its revenues or assets, will constitute an event of default.
MGM Grand Paradise credit facility. At March 31, 2015, the MGM Grand Paradise credit faci
subject to scheduled amortization payments beginning in July 2016. The interest rate on the facili
March 31, 2015. MGM China is a joint and several co-borrower with MGM Grand Paradise. The
guarantor subsidiaries have granted a security interest in substantially all of their assets to secure
interest rate on the term loans and outstanding revolving loans was 1.99%.
The MGM Grand Paradise credit facility agreement contains customary representations and warr
subsidiaries to make investments, pay dividends and sell assets, and to incur additional debt and a
of the MGM Cotai opening date and 4.00 to 1.00 thereafter, in addition to a minimum interest co
In April 2015, MGM China agreed in principle with its lenders to amend and restate its senior cre
Additionally, the amended MGM Grand Paradise credit facility is expected to bear interest at a fl
2.50% based on MGM Chinas leverage ratio. The consent is subject to the execution of a formal
conditions precedent to its effectiveness, including, but not limited to, receipt of any government
facilities will be finalized.
Convertible senior notes. In April 2015, holders of substantially all of the $1.45 billion in aggre
notes were converted at 53.83 shares of common stock per $1,000 principle amount, which is equ
initial issuance of $1.15 billion aggregate principle amount of notes and received approximately 6
Fair value of long-term debt. The estimated fair value of the Companys long-term debt at Marc
quoted market prices for the Companys senior notes and senior credit facility. Carrying value of
3 Months Ended
Mar. 31, 2015
March 31,
2015
(In thousands)
2,731,392
553,376
399,876
1,450,201
875,200
242,900
732,749
498,212
743,000
469,347
850,000
500,000
1,000,000
1,250,000
1,000,000
1,250,720
572
4,265
14,551,810
14,551,810
eet date was classified as long-term as substantially all of the $1.45 billion 4.25% convertible senior notes were converted into shares of the Companys co
turities on a long-term basis under its revolving senior credit facility. As of December 31, 2014, the amount available under the Companys revolving sen
otes and term loan credit facilities. The Company excluded from the December 31, 2014 current portion of long-term debt the amount available for refinan
senior credit facility consisted of a $1.2 billion revolving credit facility, a $1.03 billion term loan A facility and a $1.71 billion term loan B facility. The rev
ys credit rating (2.75% as of March 31, 2015). The term loan B facility bears interest at LIBOR plus 2.50%, with a LIBOR floor of 1.00%. The revolving a
9. The term loan A and term loan B facilities are subject to scheduled amortization payments on the last day of each calendar quarter in an amount equal to
ance with the scheduled amortization. The Company had $1.1 billion of available borrowing capacity under its senior credit facility at March 31, 2015. At
as 3.5%.
Las Vegas, Bellagio and The Mirage secure up to $3.35 billion of obligations outstanding under the senior credit facility. In addition, the land and substant
redit facility and the land and substantially all of the assets of MGM Grand Detroit secure its $450 million of obligations as a co-borrower under the senio
ity company interests of the subsidiaries that own the pledged properties.
s and warranties and customary affirmative and negative covenants. In addition, the senior credit facility requires the Company and its restricted subsidiar
enior credit facility) and limits the ability of the Restricted Group to make capital expenditures and investments. As of March 31, 2015, the Restricted Gro
ment is $1.25 billion through June 30, 2015 and increases to $1.30 billion for September 30, 2015 and December 31, 2015 and to $1.35 billion for March 3
5, calculated in accordance with the terms of the senior credit facility, was $1.35 billion. The senior credit facility limits the Restricted Group to capital ex
iscal year, but not any fiscal year thereafter. The Restricted Groups total capital expenditures allowable under the senior credit facility for fiscal year 2015
ty limits the Restricted Groups ability to make investments subject to certain thresholds and other important exceptions. As of March 31, 2015, the Restri
ear.
default, including, without limitation, (i) payment defaults, (ii) covenant defaults, (iii) cross-defaults to certain other indebtedness in excess of specified am
ounts, (vi) the failure of any loan document by a significant party to be in full force and effect and such circumstance, in the reasonable judgment of the re
lid and perfected first priority lien on any material portion of the collateral. In addition, the senior credit facility provides that a cessation of business due to
s, will constitute an event of default.
, the MGM Grand Paradise credit facility consisted of approximately $550 million of term loans and an approximately $1.45 billion revolving credit facili
uly 2016. The interest rate on the facility fluctuates annually based on HIBOR plus a margin, which ranges between 1.75% and 2.50%, based on MGM Ch
ower with MGM Grand Paradise. The MGM Grand Paradise credit facility is secured by MGM Grand Paradises interest in the Cotai land use right, and M
bstantially all of their assets to secure the facility. The MGM Grand Paradise credit facility will be used for general corporate purposes and for the develop
ans was 1.99%.
ns customary representations and warranties, events of default, affirmative covenants and negative covenants, which impose restrictions on, among other th
sets, and to incur additional debt and additional liens. MGM China is also required to maintain compliance with a maximum consolidated total leverage ra
, in addition to a minimum interest coverage ratio of 2.50 to 1.00. MGM China was in compliance with its credit facility covenants at March 31, 2015.
ders to amend and restate its senior credit facility and increase the term loan commitments to $1.55 billion and extend the maturity date for the term loans
ility is expected to bear interest at a fluctuating rate per annum based on HIBOR plus a margin, initially set for a six month period at 1.75% per annum, bu
is subject to the execution of a formal amended and restated facilities agreement, among the lenders, MGM China and MGM Grand Paradise and is condi
limited to, receipt of any government or regulatory approval required in connection with the transaction. There is no assurance as to whether and when bin
ntially all of the $1.45 billion in aggregate principle amount of 4.25% convertible senior notes elected to convert the notes into approximately 78 million s
$1,000 principle amount, which is equivalent to a conversion price of approximately $18.58 per share. In addition, the Company settled the capped call tr
of notes and received approximately 6 million shares from such financial institutions. Such shares received in connection with the capped call transaction
the Companys long-term debt at March 31, 2015 was $15.4 billion. At December 31, 2014, the estimated fair value of the Companys long-term debt was
enior credit facility. Carrying value of the MGM Grand Paradise credit facility approximates fair value.
December 31,
2014
(In thousands)
2,738,118
553,177
1,451,405
875,370
242,900
732,749
497,955
743,000
468,949
850,000
500,000
1,000,000
1,250,000
1,000,000
1,250,742
572
4,265
14,159,202
(1,245,320 )
12,913,882
ertible senior notes were converted into shares of the Companys common stock in April 2015, and the Company
31, 2014, the amount available under the Companys revolving senior credit facility was less than current maturities
4 current portion of long-term debt the amount available for refinancing under its revolving credit facility.
term loan A facility and a $1.71 billion term loan B facility. The revolving and term loan A facilities bear interest at
LIBOR plus 2.50%, with a LIBOR floor of 1.00%. The revolving and term loan A facilities mature in December
ments on the last day of each calendar quarter in an amount equal to 0.25% of the original principal balance. The
wing capacity under its senior credit facility at March 31, 2015. At March 31, 2015, the interest rate on the term
ng under the senior credit facility. In addition, the land and substantially all of the assets of New York-New York and
ure its $450 million of obligations as a co-borrower under the senior credit facility. In addition, the senior credit
nior credit facility requires the Company and its restricted subsidiaries (the Restricted Group) to maintain a
nditures and investments. As of March 31, 2015, the Restricted Group was required to maintain a minimum
r 30, 2015 and December 31, 2015 and to $1.35 billion for March 31, 2016, with periodic increases thereafter.
n. The senior credit facility limits the Restricted Group to capital expenditures of $500 million per fiscal year, with
ditures allowable under the senior credit facility for fiscal year 2015, after giving effect to unused amounts from
s and other important exceptions. As of March 31, 2015, the Restricted Group was within the limit of capital
ross-defaults to certain other indebtedness in excess of specified amounts, (iv) certain events of bankruptcy and
d effect and such circumstance, in the reasonable judgment of the required lenders, is materially adverse to the
the senior credit facility provides that a cessation of business due to revocation, suspension or loss of any gaming
erm loans and an approximately $1.45 billion revolving credit facility due October 2017. The credit facility is
argin, which ranges between 1.75% and 2.50%, based on MGM Chinas leverage ratio. The margin was 1.75% at
by MGM Grand Paradises interest in the Cotai land use right, and MGM China, MGM Grand Paradise and their
ility will be used for general corporate purposes and for the development of MGM Cotai. At March 31, 2015, the
nd negative covenants, which impose restrictions on, among other things, the ability of MGM China and its
maintain compliance with a maximum consolidated total leverage ratio of 4.50 to 1.00 prior to the first anniversary
compliance with its credit facility covenants at March 31, 2015.
nts to $1.55 billion and extend the maturity date for the term loans and the revolving credit facility to April 2019.
margin, initially set for a six month period at 1.75% per annum, but thereafter will range between 1.375% and
ng the lenders, MGM China and MGM Grand Paradise and is conditioned upon the satisfaction (or waiver) of all
th the transaction. There is no assurance as to whether and when binding agreements in respect of the proposed
or notes elected to convert the notes into approximately 78 million shares of the Companys common stock. The
18.58 per share. In addition, the Company settled the capped call transactions entered into in connection with the
Such shares received in connection with the capped call transactions were subsequently retired.
2014, the estimated fair value of the Companys long-term debt was $15.1 billion. Fair value was estimated using
mates fair value.
Commitments and Contingencies

Commitments And Contingencies
Disclosure [Abstract]
Commitments and Contingencies
3 Months Ended
Mar. 31, 2015
NOTE 6 COMMITMENTS AND CONTINGENCIES
CityCenter completion guarantee. In October 2013, the

Company entered into a third amended and restated completion
and cost overrun guarantee, which is collateralized by
substantially all of the assets of Circus Circus Las Vegas, as
well as certain land adjacent to that property. As of March 31,
2015, the Company had funded $888 million under the
completion guarantee. During the first quarter of 2015, the
Company fulfilled its remaining significant obligations under
the completion guarantee in conjunction with the resolution of
the Perini litigation and related settlement agreements. The
Company is in the process of seeking termination of the
completion guarantee and the release of the assets securing
such completion guarantee with CityCenters lenders.
Cotai land concession contract. MGM Grand Paradises land

concession contract for an approximate 18 acre site on the
Cotai Strip in Macau became effective on January 9, 2013 and
has an initial term of 25 years. The total land premium payable
to the Macau government for the land concession contract is
$161 million and is composed of a down payment and eight
additional semi-annual payments. As of March 31, 2015,
MGM China had paid $115 million of the contract premium,
including interest due on the semi-annual payments, and the
amount paid is recorded within Other long-term assets, net.
Including interest on the four remaining semi-annual payments,
MGM China has approximately $59 million remaining payable
for the land concession contract. Under the terms of the land
concession contract, MGM Grand Paradise is required to
complete the development of the land by January 2018.
Las Vegas Arena. In conjunction with Las Vegas Arena

Company entering a senior secured credit facility in 2014, the
Company and AEG each entered joint and several completion
guarantees for the project, as well as a repayment guarantee for
the $75 million term loan B (subject to increases and decreases
in the event of a rebalancing of the principal amount of
indebtedness between the term loan A and term loan B
facilities). Additionally, in conjunction with the Las Vegas
Arena Companys senior secured credit facility, the Company
and AEG have pledged to contribute equal amounts totaling
$175 million for construction, of which $113 million has been
contributed as of March 31, 2015.
Other guarantees. The Company is party to various guarantee

contracts in the normal course of business, which are generally
supported by letters of credit issued by financial institutions.
The Companys senior credit facility limits the amount of
letters of credit that can be issued to $500 million, and the
amount of available borrowings under the senior credit facility
is reduced by any outstanding letters of credit. At March 31,
2015, the Company had provided $52 million of letters of
credit. MGM Grand Paradises senior credit facility limits the
amount of letters of credit that can be issued to $100 million,
and the amount of available borrowings under the senior credit
facility is reduced by any outstanding letters of credit. At
March 31, 2015, MGM China had provided approximately $39
million of guarantees under its credit facility.
In connection with the development of MGM Springfield as

discussed in Note 1, the Company obtained a surety bond of
$52 million naming the Commonwealth of Massachusetts as
beneficiary, and payable thereto, in the event that the
Companys subsidiary is unable to complete the gaming
establishment.
Other litigation. The Company is a party to various legal

proceedings, most of which relate to routine matters incidental
to its business. Management does not believe that the outcome
of such proceedings will have a material adverse effect on the
Companys financial position, results of operations or cash
flows.
Income (Loss) Per Share of Common

Stock
Earnings Per Share [Abstract]
Income Per Share of Common Stock
3 Months E
Mar. 31, 2
NOTE 7 INCOME PER SHARE OF COMMON STOCK
The weighted-average number of common and common equivalent shares used in the calculation of basic and diluted income per share cons
2015
Numerator:
Net income attributable to MGM Resorts International - basic $
Interest on convertible debt, net of tax
Potentially dilutive effect due to MGM China Share
Option Plan
169,850
19,967
Net income attributable to MGM Resorts International - diluted $
189,809
(8
Denominator:
Weighted-average common shares outstanding - basic
Potential dilution from share-based awards
Potential dilution from assumed conversion of
convertible debt
Weighted-average common and common equivalent shares diluted
491,422
5,836
78,054
575,312
Antidilutive share-based awards excluded from the calculation

of diluted
earnings per share
4,627
Potential dilution from the assumed conversion of convertible debt for the three months ended March 31, 2015 does not take into considerat
For the three months ended March 31, 2014, potential dilution from the assumed conversion of convertible debt relates to the $300 million 4
excluded from the March 31, 2014 calculation of diluted earnings per share as their effect would be antidilutive.
3 Months Ended
Mar. 31, 2015
diluted income per share consisted of the following:

Three Months Ended
March 31,
2014
(In thousands)
)
$
does not take into consideration the 6 million shares received pursuant to the capped call transactions as discussed in Note 5, as the effect would be antidi
t relates to the $300 million 4.25% senior convertible notes issued in June 2011. The $1.15 billion 4.25% senior convertible notes issued in April 2010 we
.
2014
102,652
2,195
(132 )
104,715
490,542
6,453
16,149
513,144
2,625
transactions as discussed in Note 5, as the effect would be antidilutive.

15 billion 4.25% senior convertible notes issued in April 2010 were
Stockholders' Equity
Equity [Abstract]
Stockholders' Equity
NOTE 8 STOCKHOLDERS EQUITY
MGM China dividends. MGM China paid a $400 million special dividend in March 2015, of which $20
annual shareholder meeting.
MGM China paid a $499 million special dividend in March 2014, of which $254 million remained within
Supplemental equity information. The following table presents the Companys changes in stockholders
MGM Resorts
International
Stockholders'
Equity
Balances, January 1, 2015

Net income
Currency translation adjustment
Other comprehensive loss from unconsolidated
affiliate, net
Change in excess tax benefit from stock-based
compensation
Issuance of common stock pursuant to stock-based
compensation awards
Cash distributions to noncontrolling interest owners

Issuance of performance share units
Balances, March 31, 2015
Accumulated other comprehensive income (loss). Changes in accumulated other comprehensive income
Currency
Translation
Adjustment
Current period other comprehensive income (loss)

3 Months Ended
Mar. 31, 2015
ecial dividend in March 2015, of which $204 million remained within the consolidated entity and $196 million was distributed to noncontrolling interests
014, of which $254 million remained within the consolidated entity and $245 million was distributed to noncontrolling interests.
ents the Companys changes in stockholders equity for the three months ended March 31, 2015:
MGM Resorts
International
Stockholders'
Equity
4,090,917
169,850
1,261
(672 )
9,350
(2,166 )
(294 )
4,872
4,273,118
in accumulated other comprehensive income (loss) attributable to MGM Resorts International by component are as follows:
Currency
Translation
Adjustment
12,319
1,261
13,580
3 Months Ended
Mar. 31, 2015
ributed to noncontrolling interests. Additionally, in February 2015, MGM Chinas Board of Directors recommended a final dividend for 2014 of approxim
interests.
Noncontrolling
Interests
(In thousands)
3,537,357
42,796
1,215
1,352
(202,803 )
3,379,917
ows:
Other
Adjustments
(In thousands)
672
(672 )
$
M Chinas Board of Directors recommended a final dividend for 2014 of approximately $120 million, subject to approval at MGM Chinas 2015
Total
Stockholders'
Equity
7,628,274
212,646
2,476
(672
10,702
(2,166
(294
(202,803
4,872
7,653,035
Total
12,991
589
$
13,580
at MGM Chinas 2015
)
)
)
Stock-Based Compensation
Disclosure Of Compensation Related
Costs Sharebased Payments [Abstract]
Stock-Based Compensation
NOTE 9 STOCK-BASED COMPENSATION
2005 Omnibus Incentive Plan. As of March 31, 2015, the Company had an aggregate of 23 million shares of common stock available for g
Units
(000s)
Outstanding at January 1, 2015

Granted
Exercised
Forfeited or expired
16,176
12
(163 )
(856 )
Outstanding at March 31, 2015
15,169
Exercisable at March 31, 2015
9,824
RSUs
Units
(000s)
Nonvested at January 1, 2015

Forfeited
1,358
(15 )
Nonvested at March 31, 2015
1,343
Units
(000s)

Granted
265
229
494
The Company grants PSUs for the portion of any calculated bonus for a Section 16 officer of the Company that is in excess of such officers
MGM China Share Option Plan. As of March 31, 2015, MGM China had an aggregate of 338 million shares of common stock available f
Units
(000s)

Granted
35,058
710
35,768
10,642
Recognition of compensation cost. Compensation cost for both the Omnibus Plan and MGM China Plan was recognized as follows:
Three Months Ended
March 31,
2015
(In thousands)
Compensation cost:
Omnibus Plan
MGM China Plan
Total compensation cost
Less: Reimbursed costs and capitalized cost
Compensation cost after reimbursed costs
and capitalized cost
Less: Related tax benefit
Compensation cost, net of tax benefit
7,942
2,760
10,702
(290 )
10,412
(2,634 )
7,778
23 million shares of common stock available for grant as share-based awards under the Companys omnibus incentive plan (Omnibus Plan). A summary
Weighted Average
Exercise Price
15.27
20.03
14.1
35.27
14.2
12.34
Restri
RSUs
Weighted
Average
Grant-Date
Fair Value
18.27
18.08
18.27
Weighted Average
Target Price
31.72
25.91
29.03
of the Company that is in excess of such officers base salary (the Bonus PSU Policy). Awards granted under the Bonus PSU Policy have the same term
of 338 million shares of common stock available for grant as share-based awards under the MGM China share option plan (MGM China Plan). A summ
Weighted Average
Exercise Price
2.85
2.48
2.84
2.05
MGM China Plan was recognized as follows:

Three Months Ended
March 31,
2014
(In thousands)
7,002
1,461
8,463
(268 )
8,195
(2,317 )
5,878
3 Months Ended
Mar. 31, 2015
plan (Omnibus Plan). A summary of activity under the Companys share-based payment plans for the three months ended March 31, 2015 is presented be
Stockoptionsandstockappreciationrights(SARs)
Restrictedstockunits(RSUs)andperformanceshareunits(PSUs)
Units
(000s)
1,455
1,455
BonusPSUs
nus PSU Policy have the same terms as PSUs granted under the Omnibus Plan with the exception that as of the grant date the awards will not be subject to
lan (MGM China Plan). A summary of activity under the MGM China Plan for the three months ended March 31, 2015 is presented below:
Stockoptions
e three months ended March 31, 2015 is presented below:
PSUs
Weighted
Average
Grant-Date
Fair Value
15.14
15.14
as of the grant date the awards will not be subject to forfeiture in the event of the officers termination.
ed March 31, 2015 is presented below:
Weighted
Average
Target
Price
20.48
20.48
Segment Information
Segment Reporting [Abstract]
Segment Information
NOTE 10 SEGMENT INFORMATION
The Companys management views each of its casino resorts as an operating segment. Oper
in which they operate, and their management and reporting structure. The Companys princ
based on the similar characteristics of the operating segments within the regions in which th
operations and management services have not been identified as separate reportable segmen
The Companys management utilizes Adjusted Property EBITDA as the primary profit mea
related to the Omnibus Plan, which are not allocated to the reportable segments. MGM Chi
EBITDA is a measure defined as earnings before interest and other non-operating income (e
The following tables present the Companys segment information:
Net Revenues
Wholly owned domestic resorts
MGM China
Reportable segment net revenues
Corporate and other
$
Adjusted Property EBITDA
MGM China
Reportable segment Adjusted Property
EBITDA
Other operating income (expense)
Corporate and other, net
Operating income

Other, net
Net income
Less: Net income attributable to noncontrolling
interests
Net income attributable to MGM Resorts International
3 Months Ended
Mar. 31, 2015
as an operating segment. Operating segments are aggregated based on their similar economic characteristics, types of customers, types of services and pro
ructure. The Companys principal operating activities occur in two geographic regions: the United States and Macau S.A.R. The Company has aggregated
within the regions in which they operate: wholly owned domestic resorts and MGM China. The Companys operations related to investments in unconsol
as separate reportable segments; therefore, these operations are included in Corporate and other, net in the following segment disclosures to reconcile to
TDA as the primary profit measure for its reportable segments. Adjusted Property EBITDA is a measure defined as Adjusted EBITDA before corporate exp
portable segments. MGM China recognizes stock compensation expense related to the MGM China Plan which is included in the calculation of Adjusted
other non-operating income (expense), taxes, depreciation and amortization, preopening and start-up expenses and property transactions, net.
tion:
Three Months Ended
March 31,
2015
(In thousands)
1,577,895
630,087
2,207,982
124,262
2,332,244
389,879
148,456
538,335
80,641
(15,871 )
(1,589 )
(206,412 )
395,104
(216,262 )
(19,011 )
(3,490 )
(238,763 )
156,341
56,305
212,646
(42,796 )
169,850
of customers, types of services and products provided, the regulatory environments

u S.A.R. The Company has aggregated its operations into two reportable segments
ons related to investments in unconsolidated affiliates and certain other corporate
wing segment disclosures to reconcile to consolidated results.
Adjusted EBITDA before corporate expense and stock compensation expense

ncluded in the calculation of Adjusted EBITDA for MGM China. Adjusted
property transactions, net.
2014
1,570,234
941,448
2,511,682
118,716
2,630,398
402,846
240,725
643,571
(13,250 )
(5,636 )
(558 )
(207,655 )
416,472
(209,387 )
(22,215 )
(1,434 )
(233,036 )
183,436
2,664
186,100
(83,448 )
$
102,652
Related Party Transactions
3 Months Ended
Mar. 31, 2015
Related Party Transactions [Abstract]

Related Party Transactions
NOTE 11 RELATED PARTY TRANSACTIONS
MGM China. MGM Branding and Development Holdings,

Ltd. (together with its subsidiary MGM Development Services,
Ltd., MGM Branding and Development), an entity included
in the Companys consolidated financial statements in which
Ms. Ho, Pansy Catilina Chiu King indirectly holds a
noncontrolling interest, entered into a brand license agreement
with MGM China. MGM China pays a license fee to MGM
Branding and Development equal to 1.75% of MGM Chinas
consolidated net revenue, subject to an annual cap of $52
million in 2015 with a 20% increase per annum during the
agreement term. During the three months ended March 31,
2015 and 2014, MGM China incurred total license fees of $11
million and $16 million, respectively. Such amounts have been
eliminated in consolidation.
MGM China entered into a development services agreement

with MGM Branding and Development to provide certain
development services to MGM China in connection with future
expansion of existing projects and development of future resort
gaming projects. Such services are subject to a development
fee which is calculated separately for each resort casino
property upon commencement of development. For each such
property, the fee is 2.625% of project costs, to be paid in
installments as certain benchmarks are achieved. Project costs
are the total costs incurred for the design, development and
construction of the casino, casino hotel, integrated resort and
other related sites associated with each project, including costs
of construction, fixtures and fittings, signage, gaming and other
supplies and equipment and all costs associated with the
opening of the business to be conducted at each project but
excluding the cost of land and gaming concessions and
financing costs. The development fee for MGM Cotai is
subject to a cap of $27 million in 2015, which will increase by
10% per annum for each year during the term of the agreement.
During the three months ended March 31, 2015, MGM China
paid $10 million of fees to MGM Branding and Development
related to development services. Such amounts have been
eliminated in consolidation. No fee was paid during the three
months ended March 31, 2014.
Condensed Consolidating Financial

Information
[Abstract]
Information
NOTE 12 CONDENSED CONSOLIDATING FINANCIAL INFORMATION
The Companys domestic subsidiaries, excluding certain minor subsidiaries, its domestic insurance subsidiaries, MGM Grand Detroit, LLC,
months ended March 31, 2015 and 2014, are presented below.
Parent
Current assets
Investments in subsidiaries
Investments in and advances to unconsolidated affiliates

Intercompany accounts
Other non-current assets
$
Current liabilities
Long-term debt
Total liabilities
MGM Resorts stockholders' equity
Parent
Current assets

$
Current liabilities
Long-term debt
Total liabilities
Parent
Net revenues
Equity in subsidiaries' earnings
Expenses
Casino and hotel operations
Corporate expense
Operating income (loss)
Other, net
Income (loss) before income taxes
Benefit (provision) for income taxes

Net income (loss)
interests
Net income (loss) attributable to MGM Resorts International
Net income (loss)
Other comprehensive income (loss), net of tax:

Other
Comprehensive income (loss)
Comprehensive income (loss) attributable to MGM Resorts
International
Parent

Net cash provided by (used in) operating
activities
Capital expenditures, net of construction payable
Investments in and advances to unconsolidated
affiliates
Distributions from unconsolidated affiliates in excess
of earnings
Cash deposits - original maturities longer than 90
days
Other
activities

Net repayments under bank credit facilities maturities of 90 days or less
Borrowings under bank credit facilities - maturities
longer than 90 days
Distributions to noncontrolling interest owners
Other
activities
Parent
Net revenues
Expenses
Corporate expense
Other, net
Net income (loss)

interests
Net income (loss)

Other
International
Parent

activities
affiliates
of earnings
Investments in treasury securities - maturities longer
than 90 days
Proceeds from treasury securities - maturities longer
than 90 days
Other
activities

longer than 90 days
Other
Net cash used in financing activities
Net decrease for the period
AL INFORMATION
subsidiaries, its domestic insurance subsidiaries, MGM Grand Detroit, LLC, MGM National Harbor, LLC and Blue Tarp reDevelopment, LLC (the compa
Parent
1,206,649
20,727,345
134,077
22,068,071
270,376
2,103,314
2,238,007
13,145,313
37,943
17,794,953
4,273,118
4,273,118
22,068,071
Parent
1,390,806
20,430,160
141,035
21,962,001
1,680,319
1,932,780
2,312,828
11,907,534
37,623
17,871,084
4,090,917
4,090,917
21,962,001
Parent
327,766
1,500
1,201
15,516
18,217
309,549
(211,077 )
12,879
111,351
58,499
169,850
169,850
169,850
1,261
(672 )
589
170,439
170,439
Parent
(217,074 )
(140,732 )
570,000
429,268
(1,267,625 )
1,260,625
187,337
(152 )
180,185
392,379
799,508
1,191,887
Parent
302,318
1,254
1,112
16,739
19,105
283,213
(200,897 )
18,590
100,906
1,746
102,652

102,652
102,652
(1,517 )
1,250
(267 )
102,385
102,385
Parent
(186,046 )
(5,200 )
(5,200 )
(1,285,125 )
1,278,125
(508,900 )
515,595
(1,202 )
(1,507 )
(192,753 )
378,660
185,907
MGM National Harbor, LLC and Blue Tarp reDevelopment, LLC (the company that will own and operate the Companys casino resort in Springfield, Ma
Guarantor
Subsidiaries
$
$
Guarantor
Subsidiaries
$
$
Guarantor
Subsidiaries
$
$
Guarantor
Subsidiaries
Guarantor
Subsidiaries
$
$
Guarantor
Subsidiaries
ny that will own and operate the Companys casino resort in Springfield, Massachusetts), and each of their respective subsidiaries, have fully and unconditi
CONDENSED CONSOL
Guarantor
Subsidiaries
861,068
12,425,331
3,916,769
1,628,720
2,389,327
429,070
21,650,285
958,446
4,837
70,525
1,033,808
20,616,477
20,616,477
21,650,285
Guarantor
Subsidiaries
868,688
12,445,086
3,896,365
1,526,446
2,175,091
414,801
21,326,477
953,179
4,837
58,016
1,016,032
20,310,445
20,310,445
21,326,477
CONDENSED CONSOLIDATING STATEMENT
Guarantor
Subsidiaries
1,569,282
44,966
937,439
269,554
35,204
917
1,257
127,818
1,372,189
117,265
359,324
(288 )
(20,738 )
338,298
(1,686 )
336,612
336,612
336,612
1,261
(672 )
589
337,201
337,201
CONDENSED CONSOLIDATI
Guarantor
Subsidiaries
293,772
(105,509 )
100
(19,347 )
1,111
(214,237 )
(2,070 )
(339,952 )
10,520
(2 )
10,518
(35,662 )
(552 )
255,655
219,441
CONDENSED CONSOLIDATING STATEMENT
Guarantor
Subsidiaries
1,556,329
93,369
921,974
260,640
33,586
1,991
494
128,075
1,346,760
22,562
325,500
(104 )
(22,855 )
302,541
1,641
304,182

304,182
304,182
(1,517 )
1,250
(267 )
303,915
303,915
CONDENSED CONSOLIDATI
Guarantor
Subsidiaries
301,590
(69,530 )
69
(1,975 )
497
(54,064 )
63,063
(248,319 )
1,226
(309,033 )
(9,057 )
(9,057 )
(16,500 )
237,457
220,957
3 Months Ended
Mar. 31, 2015
sachusetts), and each of their respective subsidiaries, have fully and unconditionally guaranteed, on a joint and several basis, payment of the senior credit
CONDENSED CONSOLIDATING BALANCE SHEET INFORMATION

At March 31, 2015
Non-Guarantor
Subsidiaries
(In thousands)
$
$
At December 31, 2014

Non-Guarantor
Subsidiaries
(In thousands)
$
$
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME INFORMATI

Three Months Ended March 31, 2015
Non-Guarantor
Subsidiaries
(In thousands)
$
$
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS INFORMATION

Non-Guarantor
Subsidiaries
(In thousands)
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME INFORMATI

Non-Guarantor
Subsidiaries
(In thousands)
$
$
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS INFORMATION

Non-Guarantor
Subsidiaries
(In thousands)
3 Months Ended
Mar. 31, 2015
onally guaranteed, on a joint and several basis, payment of the senior credit facility and the outstanding debt securities. The Companys international subsid
LIDATING BALANCE SHEET INFORMATION

At March 31, 2015
Non-Guarantor
Subsidiaries
(In thousands)
889,268
2,148,592
7,724
7,055,298
10,100,882
667,317
286,013
309,143
1,401,660
42,223
2,706,356
4,014,609
3,379,917
7,394,526
10,100,882

Non-Guarantor
Subsidiaries
(In thousands)
768,335
2,008,428
7,588
7,118,939
9,903,290
775,097
242,311
309,032
1,001,511
34,931
2,362,882
4,003,051
3,537,357
7,540,408
9,903,290
OF OPERATIONS AND COMPREHENSIVE INCOME INFORMATION

Non-Guarantor
Subsidiaries
(In thousands)
763,685
513,904
57,418
(364 )
14,954
332
78,594
664,838
116
98,963
(4,897 )
(14,642 )
79,424
(508 )
78,916
(42,796 )
36,120
78,916
2,476
2,476
81,392
(44,011 )
37,381
NG STATEMENT OF CASH FLOWS INFORMATION

Non-Guarantor
Subsidiaries
(In thousands)
98,950
(186,820 )
64
(186,756 )
(51,001 )
450,000
16,380
(202,624 )
2
212,757
704
125,655
658,552
784,207
OF OPERATIONS AND COMPREHENSIVE INCOME INFORMATION

Non-Guarantor
Subsidiaries
(In thousands)
1,074,662
727,460
57,494
3,026
3,645
64
79,580
871,269
53
203,446
(8,386 )
(19,384 )
175,676
(723 )
174,953
(83,448 )
91,505
174,953
(2,760 )
(2,760 )
172,193
(82,205 )
89,988
NG STATEMENT OF CASH FLOWS INFORMATION

Non-Guarantor
Subsidiaries
(In thousands)
150,251
(123,221 )
66
(123,155 )
(450,000 )
450,000
(258,219 )
(247,140 )
(446 )
(505,805 )
(971 )
(479,680 )
1,187,552
707,872
acility and the outstanding debt securities. The Companys international subsidiaries, including MGM China, are not guarantors of such indebtedness. Sep
Elimination
$
$
Elimination
$
$
ON
Elimination
$
$
Elimination
ON
Elimination
$
$
Elimination
iaries, including MGM China, are not guarantors of such indebtedness. Separate condensed financial statement information for the subsidiary guarantors a
Elimination
(378 )
(11,972 )
(24,644,114 )
25,000
(2,389,327 )
(27,020,791 )
(378 )
(2,389,327 )
(2,389,705 )
(24,631,086 )
(24,631,086 )
(27,020,791 )
Elimination
(669 )
(11,972 )
(24,326,525 )
25,000
(2,175,091 )
(26,489,257 )
(670 )
(2,175,091 )
(2,175,761 )
(24,313,496 )
(24,313,496 )
(26,489,257 )
Elimination
(723 )
(372,732 )
(723 )
(723 )
(372,732 )
(372,732 )

(372,732 )
(372,732 )
(372,732 )
(2,522 )
672
(1,850 )
(374,582 )
(374,582 )
Elimination
214,237
214,237
(214,237 )
(214,237 )
Elimination
(593 )
(395,687 )
(593 )
(593 )
(395,687 )
(395,687 )
(395,687 )

(395,687 )
(395,687 )
3,034
(1,250 )
1,784
(393,903 )
(393,903 )
Elimination
25,000
(25,000 )
248,319
223,319
(248,319 )
(248,319 )
arate condensed financial statement information for the subsidiary guarantors and non-guarantors as of March 31, 2015 and December 31, 2014, and for th
Consolidated
$
$
Consolidated
$
$
Consolidated
$
$
Consolidated
Consolidated
$
$
Consolidated
nd non-guarantors as of March 31, 2015 and December 31, 2014, and for the three
Consolidated
2,956,607
14,561,951
1,661,444
7,618,445
26,798,447
1,895,761
2,547,150
14,551,810
150,691
19,145,412
4,273,118
3,379,917
7,653,035
26,798,447
Consolidated
3,027,160
14,441,542
1,559,034
7,674,775
26,702,511
3,407,925
2,621,860
12,913,882
130,570
19,074,237
4,090,917
3,537,357
7,628,274
26,702,511
Consolidated
2,332,244
1,452,120
328,173
50,356
15,871
1,589
206,412
2,054,521
117,381
395,104
(216,262 )
(22,501 )
156,341
56,305
212,646
(42,796 )
169,850
212,646
2,476
(672 )
1,804
214,450
(44,011 )
170,439
Consolidated
175,648
(292,329 )
164
(160,079 )
1,111
570,000
(2,070 )
116,797
(1,318,626 )
1,710,625
(202,624 )
(152 )
189,223
704
482,372
(552 )
1,713,715
2,195,535
Consolidated
2,630,398
1,650,095
319,246
53,351
5,636
558
207,655
2,236,541
22,615
416,472
(209,387 )
(23,649 )
183,436
2,664
186,100
(83,448 )
102,652
186,100
(2,760 )
1,250
(1,510 )
184,590
(82,205 )
102,385
Consolidated
290,795
(192,751 )
135
(32,175 )
497
(54,064 )
63,063
1,226
(214,069 )
(1,735,125 )
1,728,125
(508,900 )
(247,140 )
(1,648 )
(764,688 )
(971 )
(688,933 )
1,803,669
1,114,736

Accounting Policies (Policies)
Accounting Policies [Abstract]
Basis of presentation
Fair value measurements
Fair value measurements
Property and equipment
Income tax provision
Recently issued accounting standards
Recently issued accounting standards
3 Months Ended
Mar. 31, 2015
Basis of presentation. As permitted by the rules and

regulations of the Securities and Exchange Commission,
certain information and footnote disclosures normally included
in financial statements prepared in accordance with accounting
principles generally accepted in the United States have been
condensed or omitted. These consolidated financial statements
should be read in conjunction with the Companys 2014 annual
consolidated financial statements and notes thereto included in
the Companys Annual Report on Form 10-K for the year
ended December 31, 2014.
In the opinion of management, the accompanying unaudited

consolidated financial statements contain all adjustments,
which include only normal recurring adjustments, necessary to
present fairly the Companys interim financial statements. The
results for such periods are not necessarily indicative of the
results to be expected for the full year.
The consolidated financial statements have been retroactively

adjusted to reflect the Companys investment in Borgata under
the equity method for all periods presented in this quarterly
report. The impact of the retroactive adjustments on net income
for the three months ended March 31, 2014 was a decrease of
$6 million.
Fair value measurements. Fair value measurements affect the

Companys accounting and impairment assessments of its
long-lived assets, investments in unconsolidated affiliates, cost
method investments, assets acquired and liabilities assumed in
an acquisition, and goodwill and other intangible assets. Fair
value measurements also affect the Companys accounting for
certain of its financial assets and liabilities. Fair value is
defined as the price that would be received to sell an asset or
paid to transfer a liability in an orderly transaction between
market participants at the measurement date and is measured
according to a hierarchy that includes: Level 1 inputs, such as
quoted prices in an active market; Level 2 inputs, which are
observable inputs for similar assets; or Level 3 inputs, which
are unobservable inputs. The Company uses Level 1 inputs for
its long-term debt fair value disclosures. See Note 5.
Property and equipment. As of March 31, 2015, the

Company had accrued $8 million for property and equipment
within Accounts payable and $28 million related to
construction retention in Other long-term obligations. In
addition, during the three months ended March 31, 2015, the
Company entered into capital leases with obligations of $16
million.
Income tax provision. For interim income tax reporting the

Company estimates its annual effective tax rate and applies it
to its year-to-date ordinary income. The tax effects of unusual
or infrequently occurring items, including changes in judgment
about valuation allowances and effects of changes in tax laws
or rates, are reported in the interim period in which they occur.
The Companys effective income tax rate was (36%) for the
three months ended March 31, 2015.
The Company recognizes deferred tax assets, net of applicable

reserves, related to tax loss and credit carryforwards and other
temporary differences with a future tax benefit to the extent
that realization of such benefit is more likely than
not. Otherwise, a valuation allowance is applied. As of
December 31, 2014, the scheduled future reversal of existing
U.S. federal taxable temporary differences exceeds the
scheduled future reversal of existing U.S. federal deductible
temporary differences. Consequently, the Company no longer
applies a valuation allowance against its domestic deferred tax
assets other than its foreign tax credit deferred tax asset.
The Company generates significant excess foreign tax credits

each year that are attributable to the Macau Special Gaming
Tax which is 35% of gross gaming revenue in Macau. Because
MGM China is presently exempt from the Macau 12%
complementary tax on gaming profits, the Company believes
that payment of the Macau Special Gaming Tax qualifies as a
tax paid in lieu of an income tax that is creditable against U.S.
taxes. As long as the exemption from Macaus 12%
complementary tax on gaming profits continues, the Company
expects that it will generate excess foreign tax credits on an
annual basis and that none of the excess foreign credits will be
utilized until the exemption expires. Although the Companys
current five-year exemption from the Macau 12%
complementary tax on gaming profits ends on December 31,
2016, the Company believes it will be entitled to receive a third
five-year exemption from Macau based upon exemptions
granted to the Companys competitors in order to ensure nondiscriminatory treatment among gaming concessionaires and
subconcessionaires. For all periods beyond December 31,
2021, the Company has assumed that it will be paying the
Macau 12% complementary tax on gaming profits and will
thus not be able to credit the Macau Special Gaming Tax in
such years, and has factored that assumption into its
assessment of the realization of the foreign tax credit deferred
tax asset. Furthermore, the Company does not rely on future
U.S. source operating income in assessing future foreign tax
credit realization due to its history of recent losses in the U.S.
and therefore only relies on U.S. federal taxable temporary
differences that it expects will reverse during the 10-year
foreign tax credit carryover period.
The Company projects that it will be able to realize a benefit

and, hence, projects that it will record a deferred tax asset for
foreign tax credits, net of valuation allowance, of
approximately $252 million as of December 31, 2015 and has
reflected this assumption in its annual effective tax rate for
2015. The Companys assessment of realization of its foreign
tax credit deferred tax asset is based on available evidence,
including assumptions about future profitability of and
distributions from MGM China, as well as its assumption
concerning renewals of the five-year exemption from Macaus
12% complementary tax on gaming profits. As a result,
significant judgment is required in assessing the possible need
for a valuation allowance and changes to such assumptions
may have a material impact on the amount of the valuation
allowance. For example, should the Company in a future
period actually receive or be able to assume an additional fiveyear exemption, an additional valuation allowance would likely
need to be provided on some portion or all of the foreign tax
credit deferred tax asset, resulting in an increase in the
provision for income taxes in such period and such increase
may be material. In addition, a change to forecasts of future
profitability of, and distributions from, MGM China could also
result in a material change in the valuation allowance with a
corresponding impact on the provision for income taxes in
such period.
Recently issued accounting standards. In May 2014, the

Financial Accounting Standards Board (FASB) issued
Accounting Standards Update No. 2014-09, Revenue from
Contracts with Customers, (ASU 2014-09), which is
effective for fiscal years, and interim periods within those
years, beginning on or after December 15, 2016. ASU 2014-09
outlines a new, single comprehensive model for entities to use
in accounting for revenue arising from contracts with
customers and supersedes most current revenue recognition
guidance, including industry-specific guidance. This new
revenue recognition model provides a five-step analysis in
determining when and how revenue is recognized.
Additionally, the new model will require revenue recognition
to depict the transfer of promised goods or services to
customers in an amount that reflects the consideration a
company expects to receive in exchange for those goods or
services. The Company is currently assessing the impact that
adoption of ASU 2014-09 will have on its consolidated
financial statements and footnote disclosures.
In February 2015, the FASB issued Accounting Standards

Update No. 2015-02, Amendments to the Consolidation
Analysis, (ASU 2015-02), which is effective for fiscal
years, and interim periods within those years, beginning after
December 15, 2015. ASU 2015-02 amends: the assessment of
whether a limited partnership is a variable interest entity; the
effect that fees paid to a decision maker have on the
consolidation analysis; how variable interests held by a
reporting entitys related parties or de facto agents affect its
consolidation conclusion; and for entities other than limited
partnerships, clarifies how to determine whether the equity
holders as a group have power over an entity. The Company is
currently assessing the impact that adoption of ASU 2015-02
will have on its consolidated financial statements and footnote
disclosures.

Unconsolidated Affiliates (Tables)
Schedule of Investments in and Advances to
Schedule of Share of Results of Operations of

CityCenter Holdings, LLC [Member]

Summarized Balance Sheet Information
Summarized Income Statement Information
Summarized Income Statement Information
3 Months Ended
Mar. 31, 2015
Investments in and advances to unconsolidated affiliates consisted of the following:
March 31,
December 31,
2015
2014
(In thousands)
CityCenter Holdings, LLC CityCenter (50%)

Elgin Riverboat ResortRiverboat Casino Grand Victoria
(50%)
1,305,707
Marina District Development Company Borgata (50%)

Other
$
1,221,306
140,052
141,162
112,333
103,352
109,252
87,314
1,661,444
1,559,034
The Company recorded its share of the results of operations of unconsolidated affiliates as follows:
Three Months Ended

March 31,
2015
2014
(In thousands)

117,381
(673 )
(19,011 )
$
22,615
(19
(22,215
97,697
381
Summarized balance sheet information for CityCenter is as follows:

March 31,
December 31,
2015
2014
(In thousands)
Current assets
Current liabilities
Long-term debt and other long-term obligations

Equity
Summarized income statement information for CityCenter is as follows:
666,600
7,830,931
255,659
1,553,008
6,688,864
561,904
7,883,709
508,168
1,552,913
6,384,532
Three Months Ended

March 31,
2015
2014
(In thousands)
Net revenues
Operating expenses
Operating income
318,239
(136,633 )
181,606
(18,005 )
336,417
(331,454
4,963
(25,165
Net income (loss)
163,601
(20,202
)
)
)
)
)
3 Months Ended
Mar. 31, 2015
Long-Term Debt (Tables)

Debt Disclosure [Abstract]
Schedule of Long-Term Debt
Long-term debt consisted of the following:

March 31,
2015
(In
Senior credit facility:

$2,737 million ($2,744 million at December 31,
2014) term loans, net
MGM Grand Paradise credit facility:
$550 million term loans
Revolving loans
$1,450 million 4.25% convertible senior notes, due 2015, net

$500 million 10% senior notes, due 2016, net
$1,250 million 6% senior notes, due 2023, net
$0.6 million 7% debentures, due 2036, net
$4.3 million 6.7% debentures, due 2096
$
3 Months Ended
Mar. 31, 2015
March 31,
December 31,
2015
2014
(In thousands)
2,731,392
2,738,118
553,376
399,876
553,177
1,450,201
1,451,405
875,200
242,900
732,749
498,212
743,000
875,370
242,900
732,749
497,955
743,000
469,347
850,000
500,000
1,000,000
1,250,000
1,000,000
1,250,720
572
4,265
14,551,810
14,551,810
468,949
850,000
500,000
1,000,000
1,250,000
1,000,000
1,250,742
572
4,265
14,159,202
(1,245,320 )
$
12,913,882

Stock (Tables)
Earnings Per Share [Abstract]
Schedule of Weighted-Average Number of
Common and Common Equivalent Shares
Used in the Calculation of Basic and Diluted
Income Per Share
3 Months Ended
Mar. 31, 2015
The weighted-average number of common and common equivalent shares used in the calculation of basic and diluted income per share cons
following:
Three Months Ended
March 31,
2015
(In thousands)
Numerator:
Net income attributable to MGM Resorts International - basic $
Potentially dilutive effect due to MGM China Share
Option Plan
169,850
19,967
Net income attributable to MGM Resorts International - diluted $
189,809
(8 )
Denominator:
Weighted-average common shares outstanding - basic
convertible debt
Weighted-average common and common equivalent shares diluted
491,422
5,836
78,054
575,312
Antidilutive share-based awards excluded from the calculation

of diluted
earnings per share
4,627
Ended
2015
he calculation of basic and diluted income per share consisted of the
Three Months Ended

March 31,
2014
(In thousands)
102,652
2,195
(132 )
104,715
490,542
6,453
16,149
513,144
2,625
Stockholders' Equity (Tables)

Equity [Abstract]
Changes in Stockholders' Equity
Schedule of Changes in Accumulated Other

Comprehensive Income (Loss) Attributable to
MGM Resorts International by Component
3 Months Ended
Mar. 31, 2015
The following table presents the Companys changes in stockholders equity for the three months ended March 31, 2015:
MGM Resorts
International
Stockholders'
Noncontrolling
Equity
Interests
(In thousands)

Net income
Currency translation adjustment
Other comprehensive loss from unconsolidated

affiliate, net
Change in excess tax benefit from stock-based
compensation
Issuance of common stock pursuant to stock-based
compensation awards
4,090,917
169,850
1,261
(672 )
9,350
(2,166 )
(294 )
Cash distributions to noncontrolling interest owners

4,872
$
4,273,118
Changes in accumulated other comprehensive income (loss) attributable to MGM Resorts International by component are as follows:
Currency
Translation
Other
Adjustment
Adjustments
(In thousands)
Current period other comprehensive income (loss)

12,319
1,261
$
13,580
ed
5
ended March 31, 2015:
Total
Noncontrolling
Stockholders'
Interests
Equity
(In thousands)
3,537,357
42,796
1,215
7,628,274
212,646
2,476
1,352
(672 )
10,702
(2,166 )
(294 )
(202,803 )
3,379,917
(202,803 )
4,872
$
7,653,035
ational by component are as follows:
Other
Adjustments
Total
(In thousands)
672
(672 )
12,991
589
13,580
Stock-Based Compensation (Tables)

Schedule of Compensation Cost Recognized
Omnibus Plan [Member]

Summary of Stock Options and Stock
Appreciation Rights Activity
Schedule of Restricted Stock Units and

Performance Share Units Activity
Summary of Bonus Performance Share Units

Activity
MGM China Plan [Member]

Summary of Stock Options Activity
3 Months En
Mar. 31, 20
Recognition of compensation cost. Compensation cost for both the Omnibus Plan and MGM China Plan was recognized as follows:
Three Months Ended
March 31,
2015
2014
(In thousands)
Compensation cost:
Omnibus Plan
MGM China Plan
Total compensation cost

7,942
2,760
10,702
(290 )
7,002
1,461
8,463
(268 )
10,412
(2,634 )
$
8,195
(2,317 )
7,778
5,878
Stockoptionsandstockappreciat
Units
Weighted Average
(000s)
Exercise Price

Granted
Exercised
Forfeited or expired
16,176
12
(163 )
(856 )
15.27
20.03
14.1
35.27
15,169
14.2
9,824
12.34
Restrictedstockunits(RSUs)andperfor
RSUs
Weighted
Average
Units
Grant-Date
(000s)
Fair Value
Nonvested at January 1, 2015

Forfeited
1,358
(15 )
Nonvested at March 31, 2015
1,343
18.27
18.08
18.27
BonusPSUs
Units
Weighted Average
(000s)
Target Price

Granted
265
229
494
31.72
25.91
29.03
A summary of activity under the MGM China Plan for the three months ended March 31, 2015 is presented below:
Stockoptions
Units
Weighted Average
(000s)
Exercise Price

Granted
35,058
710
2.85
2.48
35,768
2.84
10,642
2.05
3 Months Ended
Mar. 31, 2015
s recognized as follows:
ckoptionsandstockappreciationrights(SARs)
ockunits(RSUs)andperformanceshareunits(PSUs)
PSUs
Weighted
Weighted
Average
Average
Units
Grant-Date
Target
(000s)
Fair Value
Price
1,455
1,455
15.14
15.14
BonusPSUs
elow:
Stockoptions
Weighted
Average
Target
Price
20.48
20.48
3 Months Ended
Mar. 31, 2015
Segment Information (Tables)

Schedule of Segment Information
The following tables present the Companys segment information:
Thre
2015
(I
Net Revenues
MGM China
Reportable segment net revenues
Corporate and other
$
MGM China
Reportable segment Adjusted Property
EBITDA

Operating income
Other, net
Net income
interests
Net income attributable to MGM Resorts International
onths Ended
r. 31, 2015
information:
Three Months Ended
March 31,
2015
2014
(In thousands)
1,577,895
630,087
2,207,982
124,262
1,570,234
941,448
2,511,682
118,716
2,332,244
2,630,398
389,879
148,456
402,846
240,725
538,335
643,571
80,641
(15,871 )
(1,589 )
(206,412 )
395,104
(13,250 )
(5,636 )
(558 )
(207,655 )
416,472
(216,262 )
(209,387 )
(19,011 )
(3,490 )
(238,763 )
156,341
56,305
212,646
(22,215 )
(1,434 )
(233,036 )
183,436
2,664
186,100
(42,796 )
(83,448 )
169,850
102,652

Information (Tables)
[Abstract]
Schedule of Condensed Consolidating
Balance Sheet Information

Statement of Operations and Comprehensive
Income Information

Statement of Cash Flows Information
3 Months Ended
Mar. 31, 2015
CONDENSED CONSOLIDATING BALANCE SHEET IN
Guarantor
Parent
Current assets

Current liabilities
Long-term debt
Total liabilities
1,206,649
20,727,345
Subsidiaries
134,077
861,068
12,425,331
3,916,769
1,628,720
2,389,327
429,070
22,068,071
21,650,285
270,376
2,103,314
2,238,007
13,145,313
37,943
17,794,953
4,273,118
4,273,118
958,446
4,837
70,525
1,033,808
20,616,477
20,616,477
22,068,071
21,650,285
A
Guarantor
Parent
Current assets
1,390,806
20,430,160
Subsidiaries
868,688
12,445,086
3,896,365

Current liabilities
Long-term debt
Total liabilities
141,035
1,526,446
2,175,091
414,801
21,962,001
21,326,477
1,680,319
1,932,780
2,312,828
11,907,534
37,623
17,871,084
4,090,917
4,090,917
953,179
4,837
58,016
1,016,032
20,310,445
20,310,445
21,962,001
21,326,477
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPR
Three Mo
Guarantor
Parent
Net revenues
Expenses
Corporate expense
Other, net
Net income (loss)
interests
Subsidiaries
327,766
1,500
1,201
15,516
18,217
309,549
(211,077 )
12,879
111,351
58,499
169,850
1,569,282
44,966
937,439
269,554
35,204
917
1,257
127,818
1,372,189
117,265
359,324
(288 )
(20,738 )
338,298
(1,686 )
336,612
169,850
336,612
Net income (loss)
169,850
336,612

Other
1,261
(672 )
589
170,439

International
1,261
(672 )
589
337,201
170,439
337,201
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPR
Three Mo
Guarantor
Parent
Net revenues
Expenses
Corporate expense
Other, net
Net income (loss)
interests
Subsidiaries
302,318
1,254
1,112
16,739
19,105
283,213
(200,897 )
18,590
100,906
1,746
102,652
1,556,329
93,369
921,974
260,640
33,586
1,991
494
128,075
1,346,760
22,562
325,500
(104 )
(22,855 )
302,541
1,641
304,182
102,652
304,182
Net income (loss)
102,652
304,182

Other
(1,517 )
1,250
(267 )
102,385

International
(1,517 )
1,250
(267 )
303,915
102,385
303,915
CONDENSED CONSOLIDATING STATEMENT OF CASH FLO
Three Mo
Guarantor
Parent

activities
affiliates
of earnings
Cash deposits - original maturities longer than 90
days
Other
activities
longer than 90 days
Subsidiaries
(217,074 )
(140,732 )
293,772
(105,509 )
100
(19,347 )
1,111
570,000
(214,237 )
(2,070 )
429,268
(339,952 )
(1,267,625 )
1,260,625
187,337

Other
(152 )

activities
10,520
(2 )
180,185
10,518
392,379
(35,662 )
799,508
(552 )
255,655
1,191,887
219,441
CONDENSED CONSOLIDATING STATEMENT OF CASH FLO
Three Mo
Guarantor
Parent
Subsidiaries

activities
affiliates
of earnings
Investments in treasury securities - maturities longer
than 90 days
Proceeds from treasury securities - maturities longer
than 90 days
Other
activities
longer than 90 days
(186,046 )
(5,200 )
301,590
(69,530 )
69
(1,975 )
497
(54,064 )
63,063
(248,319 )
1,226
(5,200 )
(309,033 )
(1,285,125 )
1,278,125
(508,900 )
515,595

Other
Net cash used in financing activities
Net decrease for the period
(9,057 )
(1,202 )
(1,507 )
(9,057 )
(192,753 )
378,660
(16,500 )
237,457
185,907
220,957
Months Ended
Mar. 31, 2015
ATING BALANCE SHEET INFORMATION

At March 31, 2015
Non-Guarantor
Subsidiaries
Elimination
Consolidated
(In thousands)
889,268
2,148,592
7,724
7,055,298
(378 )
(11,972 )
(24,644,114 )
25,000
(2,389,327 )
2,956,607
14,561,951
1,661,444
7,618,445
10,100,882
(27,020,791 )
26,798,447
667,317
286,013
309,143
1,401,660
42,223
2,706,356
4,014,609
3,379,917
7,394,526
(378 )
(2,389,327 )
(2,389,705 )
(24,631,086 )
(24,631,086 )
1,895,761
2,547,150
14,551,810
150,691
19,145,412
4,273,118
3,379,917
7,653,035
10,100,882
(27,020,791 )
26,798,447

Non-Guarantor
Subsidiaries
Elimination
Consolidated
(In thousands)
768,335
2,008,428
(669 )
(11,972 )
(24,326,525 )
3,027,160
14,441,542
7,588
7,118,939
25,000
(2,175,091 )
1,559,034
7,674,775
9,903,290
(26,489,257 )
26,702,511
775,097
242,311
309,032
1,001,511
34,931
2,362,882
4,003,051
3,537,357
7,540,408
(670 )
(2,175,091 )
(2,175,761 )
(24,313,496 )
(24,313,496 )
3,407,925
2,621,860
12,913,882
130,570
19,074,237
4,090,917
3,537,357
7,628,274
9,903,290
(26,489,257 )
26,702,511
OPERATIONS AND COMPREHENSIVE INCOME INFORMATION

Non-Guarantor
Subsidiaries
Elimination
Consolidated
(In thousands)
763,685
(723 )
(372,732 )
513,904
57,418
(364 )
14,954
332
78,594
664,838
116
98,963
(723 )
(723 )
(372,732 )
(4,897 )
(14,642 )
79,424
(508 )
78,916
(372,732 )
(372,732 )
(42,796 )
2,332,244
1,452,120
328,173
50,356
15,871
1,589
206,412
2,054,521
117,381
395,104
(216,262 )
(22,501 )
156,341
56,305
212,646
(42,796 )
36,120
(372,732 )
169,850
78,916
(372,732 )
212,646
2,476
2,476
81,392
(2,522 )
672
(1,850 )
(374,582 )
(44,011 )
$
37,381
2,476
(672 )
1,804
214,450
(374,582 )
(44,011 )
$
170,439
OPERATIONS AND COMPREHENSIVE INCOME INFORMATION

Non-Guarantor
Subsidiaries
Elimination
Consolidated
(In thousands)
1,074,662
(593 )
(395,687 )
727,460
57,494
3,026
3,645
64
79,580
871,269
53
203,446
(593 )
(593 )
(395,687 )
(8,386 )
(19,384 )
175,676
(723 )
174,953
(395,687 )
(395,687 )
(83,448 )
2,630,398
1,650,095
319,246
53,351
5,636
558
207,655
2,236,541
22,615
416,472
(209,387 )
(23,649 )
183,436
2,664
186,100
(83,448 )
91,505
(395,687 )
102,652
174,953
(395,687 )
186,100
(2,760 )
(2,760 )
172,193
3,034
(1,250 )
1,784
(393,903 )
(82,205 )
$
89,988
(2,760 )
1,250
(1,510 )
184,590
(393,903 )
(82,205 )
$
102,385
STATEMENT OF CASH FLOWS INFORMATION

Non-Guarantor
Subsidiaries
Elimination
Consolidated
(In thousands)
98,950
(186,820 )
64
175,648
(292,329 )
164
(160,079 )
214,237
570,000
(2,070 )
(186,756 )
214,237
116,797
(51,001 )
(1,318,626 )
450,000
1,710,625
1,111
16,380
(214,237 )
(202,624 )
2
212,757
704
(202,624 )
(152 )
(214,237 )
189,223
704
125,655
482,372
658,552
(552 )
1,713,715
784,207
2,195,535
STATEMENT OF CASH FLOWS INFORMATION

Non-Guarantor
Subsidiaries
Elimination
Consolidated
(In thousands)
150,251
(123,221 )
66
25,000
(25,000 )
290,795
(192,751 )
135
(32,175 )
497
248,319
63,063
1,226
(123,155 )
223,319
(214,069 )
(450,000 )
(1,735,125 )
450,000
1,728,125
(508,900 )
(54,064 )
(258,219 )
(248,319 )
(247,140 )
(446 )
(505,805 )
(971 )
(248,319 )
(479,680 )
1,187,552
$
707,872
(247,140 )
(1,648 )
(764,688 )
(971 )
(688,933 )
1,803,669
$
1,114,736
Organization - Additional Information

(Detail) (USD $)
Organization Disclosure [Line Items]
Number of reportable segments
Percentage ownership interest
Marina District Development Company
[Member]
Grand Victoria [Member]
Silver Legacy [Member]
Las Vegas Arena Company, LLC [Member]
Boyd [Member] | Borgata [Member]
MGM Hakkasan [Member] | MGM Hakkasan
Hospitality [Member]
Co-venturer [Member] | Infinity World
Development Corp [Member] | CityCenter
Holdings, LLC [Member]
Co-venturer [Member] | Hyatt Gaming
[Member] | Grand Victoria [Member]
Co-venturer [Member] | Eldorado LLC
[Member] | Silver Legacy [Member]
3 Months Ended
Mar. 31, 2015
Segment
Dec. 31,
2014
50.00%
50.00%
50.00%
50.00%
50.00%
50.00%
50.00%
50.00%
50.00%
50.00%
50.00%
50.00%
Scenario, Forecast [Member] | Las Vegas

Arena Company, LLC [Member]
Expected development and construction cost,
excluding capitalized and land related costs
350,000,000
Scenario, Forecast [Member] | Maximum
[Member] | Las Vegas Arena Company, LLC
[Member]
Number of seats
Scenario, Forecast [Member] | Minimum
[Member] | Las Vegas Arena Company, LLC
[Member]
Number of seats
MGM China [Member]
MGM Cotai [Member] | Scenario, Forecast
[Member]
20,000
18,000
51.00%

3,000,000,000
MGM Cotai [Member] | Scenario, Forecast
[Member] | Maximum [Member]
Number of hotel rooms
Number of gaming tables
Number of slots
Crystals [Member] | CityCenter Holdings, LLC
[Member]
Annual management fee
Aria and Vdara [Member] | CityCenter
Holdings, LLC [Member]
1,500
500
1,500
3,000,000

Management fee as a percentage of
revenues
2.00%
Management fee received, percentage of

EBITDA
5.00%
Mgm National Harbor [Member] | Scenario,

Forecast [Member]
Number of slots
Number of seats
Area of meeting and event space
Area of retail and restaurant space
Parking garage space
Mississippi [Member]
Number of resorts owned and operated
300
160
3,600
1,300,000,000
3,000
50,000
79,000
4,700
2
Macau [Member] | MGM Cotai [Member] |
Scenario, Forecast [Member]
Area of development site (in acres)
Massachusetts [Member] | MGM Springfield
[Member] | Scenario, Forecast [Member]
Number of slots
Area of meeting and event space
Area of retail and restaurant space
Parking garage space
18
14.5
250
100
3,000
760,000,000
33,000
64,000
3,500

Accounting Policies - Additional
Information
(USD
$)
In Millions,
unless(Detail)
otherwise
specified
Basis Of Presentation And Summary Of
Significant Accounting Policies [Line
Items]
Retroactive adjustments on net income (loss)
Accrual for property and equipment
Construction retention accrued
Obligations under capital leases
Effective income tax rate
Macau [Member]
Items]
Special gaming tax rate
Macau [Member] | MGM China [Member]
Items]
Complementary tax rate (as a percent)
Period exempted from complementary tax,
second exemption period granted
Complementary tax exemption expiration
date
Third exemption period from complementary
tax assumed based on third exemption
period granted to a competitor
Tax credit carryforward, description
Foreign tax credit carry forward expiration

period
Macau [Member] | MGM China [Member] |
Foreign Tax Authority [Member] | Scenario,
Forecast [Member]
Items]
Net deferred foreign tax credit asset
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
$6
8
28
16
-36.00%
35.00%
12.00%
5 years
31-Dec-16
5 years
Dec. 31,
2015
The Companyb_x0019_s current five-year

exemption from the Macau 12%
complementary tax on gaming profits ends
on December 31, 2016, the Company
believes it will be entitled to receive a third
five-year exemption from Macau based upon
exemptions granted to the
Companyb_x0019_s competitors in order to
ensure non-discriminatory treatment among
gaming concessionaires and
subconcessionaires. For all periods beyond
December 31, 2021, the Company has
assumed that it will be paying the Macau
12% complementary tax on gaming profits
and will thus not be able to credit the Macau
Special Gaming Tax in such years, and has
factored that assumption into its assessment
of the realization of the foreign tax credit
deferred tax asset. Furthermore, the
Company does not rely on future U.S source
operating income in assessing future foreign
tax credit realization due to its history of
recent losses in the U.S. and therefore only
relies on U.S. federal taxable temporary
differences that it expects will reverse during
the 10-year foreign tax credit carryover
period.
10 years
$252
Assets Held for Sale - Additional

Information (Detail) (Assets Held-forsale [Member], USD $)
Mar. 31, 2015
Dec. 31,
2014
In Millions, unless otherwise specified

Railroad Pass Hotel & Casino [Member]
Long Lived Assets Held For Sale [Line
Items]
Assets held for sale
Liabilities held for sale
Gold Strike Hotel & Gambling Hall [Member]
$10
1
$9
2
14
2
14
2

Items]
Assets held for sale
Liabilities held for sale
Subsequent Event [Member] | Railroad Pass
Hotel & Casino [Member]
Items]
Contingent upon regulatory approvals and
other customary closing conditions
Subsequent Event [Member] | Gold Strike
Hotel & Gambling Hall [Member]
Items]
Contingent upon regulatory approvals and
other customary closing conditions
Apr. 01, 2015 Apr. 30, 2015
$12

Unconsolidated Affiliates - Schedule of
Unconsolidated Affiliates (Detail) (USD Mar. 31, 2015
$)
Dec. 31,
2014

specified
Schedule Of Equity Method Investments
[Line Items]
$1,661,444
$1,559,034

[Line Items]
1,305,707
1,221,306
140,052
141,162
112,333
109,252
Elgin Riverboat Resort-Riverboat Casino

[Member]
[Line Items]
[Member]
[Line Items]
Other [Member]
[Line Items]
$103,352
$87,314

Mar. 31, 2015
Unconsolidated Affiliates (Parenthetical)
(Detail)
Dec. 31,
2014

[Line Items]
Elgin Riverboat Resort-Riverboat Casino
[Member]
50.00%
50.00%
50.00%
50.00%
50.00%
50.00%

[Line Items]
[Member]
[Line Items]

Share of Results of Operations of
3 Months Ended
Unconsolidated
Affiliates
(Detail) (USD
In Thousands,
unless otherwise
Mar. 31, 2015 Mar. 31, 2014
$)
specified
Equity Method Investments And Joint
Ventures [Abstract]
affiliates
$117,381
-673
$22,615
-19
-19,011
$97,697
-22,215
$381

Unconsolidated Affiliates - Summarized
Balance Sheet Information (Detail)
(CityCenter Holdings, LLC [Member], Mar. 31, 2015
USD $)
Dec. 31,
2014

specified
[Line Items]
Current assets
Current liabilities
Long-term debt and other long-term
obligations
Equity
$666,600
7,830,931
255,659
$561,904
7,883,709
508,168
1,553,008
$6,688,864
1,552,913
$6,384,532

Unconsolidated Affiliates - Summarized
Income Statement Information (Detail)
3 Months Ended
(CityCenter
Holdings,
LLC
[Member],
In Thousands,
unless
otherwise
Mar. 31, 2015 Mar. 31, 2014
USD
$)
specified
[Line Items]
Net revenues
Operating expenses
Operating income
Net income (loss)
$318,239
-136,633
181,606
-18,005
$163,601
$336,417
-331,454
4,963
-25,165
($20,202)

Unconsolidated Affiliates - Additional
Information (Detail) (USD $)
[Line Items]
Recognized property transactions, net
[Line Items]
Recognized property transactions, net
Annual dividend distribution policy
Description
CityCenter Holdings, LLC [Member] |

Subsequent Event [Member]
[Line Items]
Dividends declared
Dividends received
3 Months Ended
1 Months Ended
Mar. 31, 2015
Apr. 30, 2015
Dec. 31,
2014
$80
160
50.00%
50.00%
Under the annual distribution policy,

CityCenter will distribute up to 35% of excess
cash flow, subject to the approval of the
CityCenter board of directors.
50.00%
400
$200
Long-Term Debt - Schedule of Long-Term

Debt (Detail) (USD $)
specified
Debt Instrument [Line Items]
Long-term debt
Long-term debt
4.25% convertible senior notes, due 2015,
net [Member]
Mar. 31, 2015
14,551,810
$14,159,202
-1,245,320
12,913,882
1,450,201
1,451,405
875,200
875,370
242,900
242,900
732,749
732,749
498,212
497,955
743,000
743,000

Long-term debt
8.625% senior notes, due 2019 [Member]
469,347
468,949

Long-term debt
850,000
850,000
500,000
500,000

Long-term debt
6.625% senior notes, due 2015, net
[Member]
Long-term debt
Long-term debt
Long-term debt
10% senior notes, due 2016, net [Member]
Long-term debt
Long-term debt
[Member]

Long-term debt
$14,551,810
Dec. 31,
2014

Long-term debt
1,000,000
1,000,000

Long-term debt
1,250,000
1,250,000

Long-term debt
1,000,000
1,000,000

Long-term debt
7% debentures, due 2036, net [Member]
1,250,720
1,250,742
572
572
4,265
4,265
2,731,392
2,738,118
553,376
553,177

Long-term debt
6.7% debentures, due 2096 [Member]
Long-term debt
Term Loans [Member] | Senior credit facility
[Member]
Long-term debt
Term Loans [Member] | MGM Grand Paradise
credit facility [Member]
Long-term debt
Revolving Loans [Member] | MGM Grand
Paradise credit facility [Member]
Long-term debt
$399,876
Long-Term Debt - Schedule of Long-Term

3 Months Ended 12 Months Ended
Debt (Parenthetical) (Detail) (USD $)
Long-term debt, principal amount
Term Loans [Member] | Senior credit facility
[Member]
net [Member]
Long-term debt, interest rate (as a percent)
Long-term debt, maturity year
[Member]
Mar. 31, 2015
Dec. 31, 2014
$550
2,737
2,744
1,450
1,450
4.25%
2015
4.25%
2015
875
875
6.63%
2015
6.63%
2015
242.9
242.9
6.88%
2016
6.88%
2016
732.7
732.7
7.50%
2016
7.50%
2016
500
500

[Member]
10.00%
2016
10.00%
2016
743
743
7.63%
2017
7.63%
2017
475
475
11.38%
2018
11.38%
2018
850
850
8.63%
2019
8.63%
2019
500
500
5.25%
2020
5.25%
2020
1,000
1,000
6.75%
2020
6.75%
2020
1,250
1,250

6% senior notes, due 2023 [Member]
7% debentures, due 2036, net [Member]
6.7% debentures, due 2096 [Member]
6.63%
2021
6.63%
2021
1,000
1,000
7.75%
2022
7.75%
2022
1,250
1,250
6.00%
2023
6.00%
2023
0.6
0.6
7.00%
2036
7.00%
2036
$4.30
$4.30
6.70%
2096
6.70%
2096
Apr. 30, 2010
1,150
Long-Term Debt - Additional Information

(Detail) (USD $)
Share data in Millions, except Per Share
data, unless otherwise specified
Long-term debt, fair value
MGM Grand Paradise credit facility [Member]
Long-term debt, maturity date
Maximum [Member] | MGM Grand Paradise
credit facility [Member] | Debt Covenant
Terms Prior to First Anniversary of MGM Cotai
Opening [Member]
Consolidated leverage ratio
Maximum [Member] | MGM Grand Paradise
credit facility [Member] | Debt Covenant
Terms Subsequent to First Anniversary of
MGM Cotai Opening [Member]
Consolidated leverage ratio
Minimum [Member] | MGM Grand Paradise
Consolidated interest coverage ratio
Revolving Loans [Member] | MGM Grand
Credit facility amount
Interest rate at the end of the period (as a
percent)
Mar. 31, 2015
Apr. 30, 2015
15,400,000,000
31-Oct-17
4.5
2.5
1,450,000,000
1.99%

percent)
HIBOR [Member] | MGM Grand Paradise credit
facility [Member]
550,000,000
1.99%
Variable interest rate base

HIBOR
Interest rate margin (as a percent)
HIBOR [Member] | Maximum [Member] | MGM
Grand Paradise credit facility [Member]
HIBOR [Member] | Minimum [Member] | MGM
Grand Paradise credit facility [Member]
Senior credit facility [Member]
Annual capital expenditures after giving
effect to unused amounts from prior year
1.75%
2.50%
1.75%
794,000,000
Senior credit facility [Member] | Collateralized
land and assets of MGM Grand Detroit
[Member] | MGM Grand Detroit, LLC
[Member]
Debt instrument, collateral amount
Senior credit facility [Member] | Maximum
[Member]
Annual capital expenditures
Senior credit facility [Member] | Maximum
[Member] | Collateralized land and assets of
MGM Grand Las Vegas, Bellagio and The
Mirage [Member]
Debt instrument, collateral amount
Senior credit facility [Member] | Minimum
[Member] | Debt Covenant Terms March
Thirty One Two Thousand And Fifteen
Trailing annual earnings before interest,
taxes, depreciation and amortization
(EBITDA)
450,000,000
500,000,000
3,350,000,000
1,250,000,000

[Member] | Debt Covenant Terms June Thirty
Two Thousand And Fifteen
(EBITDA)
1,250,000,000

[Member] | Debt Covenant Terms September
Thirty Two Thousand And Fifteen
(EBITDA)
1,300,000,000

[Member] | Debt Covenant Terms December
Thirty One Two Thousand And Fifteen
(EBITDA)
1,300,000,000

[Member] | Debt Covenant Terms March
Thirty One Two Thousand And Sixteen
(EBITDA)
1,350,000,000

[Member] | Debt Covenant Terms Trailing Four
Quarters [Member]
(EBITDA)
1,350,000,000
Senior credit facility [Member] | Revolving

Loans [Member]
1,200,000,000

Available borrowing capacity
Senior credit facility [Member] | Term Loans
[Member]
Repayments
Senior credit facility [Member] | LIBOR
[Member] | Revolving Loans [Member]
Subsequent Event [Member] | Term Loans
[Member] | MGM Grand Paradise credit
facility [Member]
20-Dec-17
1,100,000,000
2,737,000,000
7,000,000
LIBOR
2.75%

Subsequent Event [Member] | HIBOR
[Member] | MGM Grand Paradise credit
facility [Member]
1,550,000,000

[Member] | Maximum [Member] | MGM Grand
HIBOR
1.75%

[Member] | Minimum [Member] | MGM Grand
2.50%

net [Member]
1.38%
1,450,000,000
4.25%
Initial conversion price of shares (in dollars

per share)
18.58
Common stock shares issued

Share received upon capped call transactions
78
6

net [Member] | Subsequent Event [Member]
1,450,000,000
4.25%
Conversion ratio, number of shares per

$1,000 principal amount, numerator
53.83
Senior credit facility term loan A [Member]

Amortization payments of original principal
balance (as percent)
1,030,000,000
20-Dec-17
0.25%

percent)
2.90%
Senior credit facility term loan A [Member] |

LIBOR [Member]
Senior credit facility term loan B [Member]
Interest rate floor (as a percent)
Amortization payments of original principal
balance (as percent)
LIBOR
1,710,000,000
1.00%
20-Dec-19
0.25%

percent)
3.50%
Senior credit facility term loan B [Member] |

LIBOR [Member]
LIBOR
2.50%
Dec. 31, 2014

$15,100,000,000
Apr. 30, 2010
2,744,000,000
1,450,000,000 1,150,000,000
4.25%
Commitments and Contingencies Additional Information (Detail) (USD $)


Jan. 09, 2013
Payments
Senior credit facility [Member]

Loss Contingencies [Line Items]
Letter of credit outstanding
Letters of credit [Member] | Senior credit
facility [Member]
Mar. 31, 2015

Payments
$52

Amount that can be issued
MGM Resorts International [Member] |
Completion guarantee [Member]
500

Amount funded under completion guarantee
888
MGM Grand Paradise, S.A. [Member] | Cotai
land concession contract [Member]
Initial term of contract
25 years
Payable for land concession contract
Number of semi-annual payments
MGM Grand Paradise, S.A. [Member] | Macau
[Member] | Cotai land concession contract
[Member]
MGM China [Member] | Cotai land concession
contract [Member]
Payable for land concession contract
Number of semi-annual payments
Contract premium, recorded within other
long-term assets
161
8
18
59
4
115
MGM China [Member] | Guarantee Type,

Other | Senior credit facility [Member]
Letter of credit outstanding
Las Vegas Arena Company, LLC [Member]
39
Payments to acquire equity method

investments
113
Las Vegas Arena Company, LLC [Member] |

Maximum [Member] | Anschutz
Entertainment Group, Inc [Member]
Other commitment for construction
Las Vegas Arena Company, LLC [Member] |
Term Loan B Facility [Member]
Repayment guarantee
M G M Grand Paradise Senior Credit Facility |
Letters of credit [Member] | Senior credit
facility [Member] | Standby Letters of Credit
Amount that can be issued
MGM Springfield [Member]
Surety bond
175
75
100
$52
Income Per Share of Common Stock Schedule of Weighted-Average Number

of Common and Common Equivalent
3 Months Ended
Shares Used in the Calculation of Basic
Thousands,
unless
otherwise
andInDiluted
Income
Per Share
(Detail) Mar. 31, 2015 Mar. 31, 2014
specified
(USD $)
Numerator:
International - basic
$169,850
$102,652
19,967
2,195
Potentially dilutive effect due to MGM China
Share Option Plan
-8
-132
International - diluted
189,809
104,715
International - basic
$169,850
$102,652
Denominator:
Weighted-average common shares
outstanding - basic
491,422
490,542
5,836
6,453
convertible debt
78,054
16,149
Weighted-average common and common
equivalent shares - diluted
575,312
513,144
Antidilutive share-based awards excluded
from the calculation of diluted earnings per
share
4,627
2,625

Stock - Additional Information (Detail)
3 Months Ended
(4.25% convertible senior notes, due
In Millions,
unless
otherwise
specified
Mar. 31, 2015 Mar. 31, 2014
2015, net
[Member],
USD
$)
Investment Holdings [Line Items]
Share received upon capped call transactions
6
$1,450
4.25%
Convertible Debt Issued June 2011 [Member]
300
4.25%
Long-term debt, issuance date

Convertible Debt Issued April 2010 [Member]
2011-06
$1,150
4.25%
Long-term debt, issuance date
2010-04
Dec. 31,
2014
$1,450
4.25%
Apr. 30, 2010
$1,150
Stockholders' Equity - Additional

Stockholders Equity Note [Line Items]
owners
MGM China [Member]
Dividend remained within the consolidated
entity
owners
MGM China [Member] | Special Dividend
[Member]
Dividends paid
MGM China [Member] | Final Dividend
[Member]
Dividends recommended
3 Months Ended
Mar. 31, 2015 Mar. 31, 2014
$202,624,000
$247,140,000
1 Months Ended
Mar. 31, 2015 Mar. 31, 2014 Feb. 28, 2015
204,000,000
254,000,000
196,000,000
245,000,000
400,000,000
499,000,000
$120,000,000
Stockholders' Equity - Changes in

Stockholders' Equity (Detail) (USD $)
specified
Increase (Decrease) in Stockholders'
Equity
Balances
Net income
Other
Change in excess tax benefit from stockbased compensation
Issuance of common stock pursuant to stockbased compensation awards
Cash distributions to noncontrolling interest
owners
Balances
MGM Resorts Stockholders' Equity [Member]
3 Months Ended
Mar. 31, 2015 Mar. 31, 2014
$7,628,274
212,646
2,476
-672
10,702
-2,166
-294
-202,803
4,872
7,653,035

Equity
Balances
Net income
Other
Change in excess tax benefit from stockbased compensation
Issuance of common stock pursuant to stockbased compensation awards
Balances
Non-controlling Interests [Member]
Equity
Balances
Net income
4,090,917
169,850
1,261
-672
9,350
-2,166
-294
4,872
4,273,118
3,537,357
42,796
1,215
1,352
186,100
-2,760
1,250
Cash distributions to noncontrolling interest

owners
Balances
-202,803
$3,379,917
Stockholders' Equity - Schedule of

Changes in Accumulated Other
Comprehensive Income (Loss)
Attributable to MGM Resorts
International by Component (Detail)
(USD $)
specified
Accumulated Other Comprehensive
Income Loss [Line Items]
Balances, beginning of the period
Current period other comprehensive income
(loss)
Balances, end of the period
Currency Translation Adjustment [Member]
3 Months Ended
Mar. 31, 2015
$12,991
589
13,580

(loss)
Balances, end of the period
Other Adjustments [Member]
(loss)
12,319
1,261
13,580
672
($672)
Stock-Based Compensation - Additional

Information (Detail)
Mar. 31, 2015
Share Based Compensation
Arrangement By Share Based Payment
Award [Line Items]
Number of shares available for grant as
share-based awards
23
China Share Option Plan | Stock Options

[Member] | MGM China [Member]
Award [Line Items]
Number of shares available for grant as
share-based awards
338
Stock-Based Compensation - Summary

of Stock Options and Stock Appreciation
3 Months Ended
Rights Activity (Detail) (Omnibus Plan
[Member], USD $)
Award [Line Items]
Outstanding at the beginning of the period
(in shares)
Granted (in shares)
Exercised (in shares)
Forfeited or expired (in shares)
Outstanding at the end of the period (in
shares)
Exercisable at the end of the period (in
shares)
(in dollars per share)
Granted (in dollars per share)
Exercised (in dollars per share)
Forfeited or expired (in dollars per share)
Mar. 31, 2015
16,176
12
-163
-856
15,169
9,824
$15.27
$20.03
$14.10
$35.27

dollars per share)
$14.20

dollars per share)
$12.34
Stock-Based Compensation - Schedule

of Restricted Stock Units and
Performance Share Units Activity
(Detail) (Omnibus Plan [Member], USD
$)
Restricted Stock Units (RSUs)
Award [Line Items]
Nonvested at the beginning of the period (in
shares)
Forfeited (in shares)
Nonvested at the end of the period (in
shares)
dollars per share)
Forfeited (in dollars per share)
Nonvested at the end of the period (in dollars
per share)
3 Months Ended
Mar. 31, 2015
Dec. 31,
2014
1,358
-15
1,343
$18.27
$18.08
$18.27
Performance Shares
Award [Line Items]
shares)
shares)
1,455
1,455

dollars per share)
Nonvested at the end of the period (in dollars
per share)
1,455
$15.14
$15.14
Nonvested at the beginning of period,

Weighted Average Target Price (in dollars per
share)
$15.14
$20.48
Nonvested at the end of period, Weighted

Average Target Price (in dollars per share)
$20.48
$20.48

of Bonus Performance Share Units
Activity (Detail) (Omnibus Plan
[Member], Bonus PSUs [Member], USD
$)
Omnibus Plan [Member] | Bonus PSUs
[Member]
3 Months Ended
Mar. 31, 2015

Award [Line Items]
shares)
Granted (in shares)
shares)
265
229
494
Outstanding at the beginning of period,

Weighted Average Target Price (in dollars per
share)
$31.72
Granted, Weighted Average Target Price (in

dollars per share)
$25.91
Outstanding at the end of period, Weighted

Average Target Price (in dollars per share)
$29.03

of Stock Options Activity (Detail) (MGM 3 Months Ended
China Plan [Member], USD $)
Award [Line Items]
(in shares)
Granted (in shares)
shares)
shares)
(in dollars per share)
Granted (in dollars per share)
dollars per share)
dollars per share)
Mar. 31, 2015
35,058
710
35,768
10,642
$2.85
$2.48
$2.84
$2.05
Stock-Based Compensation - Schedule

of Compensation Cost Recognized
3 Months Ended
(Detail)unless
(USD otherwise
$)
In Thousands,
Mar. 31, 2015 Mar. 31, 2014
specified
Employee Service Share Based
Compensation Allocation Of Recognized
Period Costs [Line Items]
Compensation cost
Compensation cost
Compensation cost
$10,702
$8,463
-290
-268
10,412
-2,634
7,778
8,195
-2,317
5,878
7,942
7,002
$2,760
$1,461
Segment Information - Additional

Information (Detail)
Number of geographic regions, where
principal operating activities of the entity
occur
Number of reportable segments
3 Months Ended
Mar. 31, 2015
Segment
Region
2
2
Segment Information - Schedule of

Segment Information (Detail) (USD $)
specified
Segment Reporting Information [Line
Items]
Net Revenues
Operating income
affiliates
Other, net
Total non-operating income (expense)
Net income
International
3 Months Ended
Mar. 31, 2015 Mar. 31, 2014
$2,332,244
$2,630,398
-15,871
-1,589
-206,412
395,104
-5,636
-558
-207,655
416,472
-216,262
-209,387
-19,011
-3,490
-238,763
156,341
56,305
212,646
-22,215
-1,434
-233,036
183,436
2,664
186,100
-42,796
-83,448
169,850
102,652
2,207,982
538,335
2,511,682
643,571
1,577,895
389,879
1,570,234
402,846
630,087
148,456
941,448
240,725
Reportable segments [Member]

Items]
Net Revenues
Reportable segments [Member] | Wholly
Owned Domestic Resorts [Member]
Items]
Net Revenues
Reportable segments [Member] | MGM China
[Member]
Items]
Net Revenues
Corporate and other [Member]

Items]
Net Revenues
124,262
$80,641
118,716
($13,250)
Related Party Transactions - Additional

Information (Detail) (MGM China
3 Months Ended
[Member],
Ms Pansy
Ho, USD
$)
In Millions,
unless
otherwise
specified
Mar. 31, 2015 Mar. 31, 2014
Brand license agreement [Member]
Related Party Transaction [Line Items]
License fee as percentage of MGM China
consolidated net revenue
1.75%
Per annum percentage increase in
development fee annual cap
20.00%
License fees
$11
$16
Brand license agreement [Member] |
[Member]
License fee cap
Development services agreement [Member]
Per annum percentage increase in
development fee annual cap
Development fee as percentage of project
cost
Development fees
Development services agreement [Member] |
[Member]
Development fees
52
10.00%
2.63%
10
$27

Information - Schedule of Condensed
Consolidating Balance Sheet
Mar. 31, 2015 Dec. 31, 2014

specified
Condensed Balance Sheet Statements
Captions [Line Items]
Current assets
Total assets
Current liabilities
Long-term debt
Total liabilities
$2,956,607
14,561,951
$3,027,160
14,441,542
1,661,444
7,618,445
26,798,447
1,895,761
2,547,150
14,551,810
150,691
19,145,412
4,273,118
3,379,917
7,653,035
1,559,034
7,674,775
26,702,511
3,407,925
2,621,860
12,913,882
130,570
19,074,237
4,090,917
3,537,357
7,628,274
26,798,447
26,702,511
1,206,649
20,727,345
134,077
22,068,071
270,376
2,103,314
2,238,007
13,145,313
37,943
17,794,953
4,273,118
4,273,118
1,390,806
20,430,160
141,035
21,962,001
1,680,319
1,932,780
2,312,828
11,907,534
37,623
17,871,084
4,090,917
4,090,917
22,068,071
21,962,001
Parent [Member]
Current assets
Total assets
Current liabilities
Long-term debt
Total liabilities
Guarantor Subsidiaries [Member]

Current assets
Total assets
Current liabilities
Long-term debt
Total liabilities
861,068
12,425,331
3,916,769
868,688
12,445,086
3,896,365
1,628,720
2,389,327
429,070
21,650,285
958,446
4,837
70,525
1,033,808
20,616,477
20,616,477
1,526,446
2,175,091
414,801
21,326,477
953,179
4,837
58,016
1,016,032
20,310,445
20,310,445
21,650,285
21,326,477
889,268
2,148,592
768,335
2,008,428
7,724
7,055,298
10,100,882
667,317
286,013
309,143
1,401,660
42,223
2,706,356
4,014,609
3,379,917
7,394,526
7,588
7,118,939
9,903,290
775,097
242,311
309,032
1,001,511
34,931
2,362,882
4,003,051
3,537,357
7,540,408
10,100,882
9,903,290
-378
-11,972
-669
-11,972
Non-Guarantor Subsidiaries [Member]

Current assets
Total assets
Current liabilities
Long-term debt
Total liabilities
Elimination [Member]
Current assets
Total assets
Current liabilities
Total liabilities
-24,644,114
-24,326,525
25,000
-2,389,327
-27,020,791
-378
-2,389,327
-2,389,705
-24,631,086
-24,631,086
25,000
-2,175,091
-26,489,257
-670
-2,175,091
-2,175,761
-24,313,496
-24,313,496
($27,020,791) ($26,489,257)

Consolidating Statement of Operations
3 Months Ended
and In
Comprehensive
Income
Information
Thousands, unless
otherwise
Mar. 31, 2015 Mar. 31, 2014
(Detail)
(USD
$)
specified
Condensed Income Statements Captions
[Line Items]
Net Revenues
Expenses
Corporate expense
Total expenses
Other, net
Net income
International
Net income (loss)
of tax:
$2,332,244
$2,630,398
1,452,120
328,173
50,356
15,871
1,589
206,412
2,054,521
117,381
395,104
1,650,095
319,246
53,351
5,636
558
207,655
2,236,541
22,615
416,472
-216,262
-22,501
156,341
56,305
212,646
-209,387
-23,649
183,436
2,664
186,100
-42,796
-83,448
169,850
212,646
102,652
186,100
2,476
-672
1,804
214,450
-2,760
1,250
-1,510
184,590
-44,011
-82,205
170,439
102,385
-723
-372,732
-593
-395,687

Other
[Line Items]
Net Revenues
Expenses
Total expenses
Net income
International
Net income (loss)
of tax:
-723
-723
-372,732
-372,732
-372,732
-593
-593
-395,687
-395,687
-395,687
-372,732
-372,732
-395,687
-395,687
-2,522
672
-1,850
-374,582
3,034
-1,250
1,784
-393,903
-374,582
-393,903
327,766
302,318
1,500
1,201
15,516
18,217
309,549
1,254
1,112
16,739
19,105
283,213
-211,077
12,879
111,351
58,499
169,850
-200,897
18,590
100,906
1,746
102,652
169,850
169,850
102,652
102,652
1,261
-672
589
-1,517
1,250
-267

Other
Parent [Member]
[Line Items]
Expenses
Corporate expense
Total expenses
Other, net
Net income
International
Net income (loss)
of tax:
Other
170,439
102,385
170,439
102,385
1,569,282
44,966
1,556,329
93,369
937,439
269,554
35,204
917
1,257
127,818
1,372,189
117,265
359,324
921,974
260,640
33,586
1,991
494
128,075
1,346,760
22,562
325,500
-288
-20,738
338,298
-1,686
336,612
-104
-22,855
302,541
1,641
304,182
336,612
336,612
304,182
304,182
1,261
-672
589
337,201
-1,517
1,250
-267
303,915
337,201
303,915
763,685
1,074,662
513,904
57,418
727,460
57,494

[Line Items]
Net Revenues
Expenses
Corporate expense
Total expenses
Other, net
Net income
International
Net income (loss)
of tax:
Other
[Line Items]
Net Revenues
Expenses
Corporate expense
Total expenses
Other, net
Net income
International
Net income (loss)
of tax:
-364
14,954
332
78,594
664,838
116
98,963
3,026
3,645
64
79,580
871,269
53
203,446
-4,897
-14,642
79,424
-508
78,916
-8,386
-19,384
175,676
-723
174,953
-42,796
-83,448
36,120
78,916
91,505
174,953
2,476
2,476
81,392
-2,760
-2,760
172,193
-44,011
-82,205

$37,381
$89,988

3 Months Ended
Consolidating Statement of Cash Flows
InInformation
Thousands, (Detail)
unless otherwise
(USD $)
Mar. 31, 2015 Mar. 31, 2014
specified
activities
$175,648
$290,795
payable
-292,329
-192,751
164
135
-160,079
-32,175
excess of earnings
1,111
497
-54,064
longer than 90 days
63,063
than 90 days
570,000
Other
-2,070
1,226
activities
116,797
-214,069
owners
Other
activities
-1,318,626
-1,735,125
1,710,625
1,728,125
-508,900
-202,624
-152
-247,140
-1,648
189,223
704
-764,688
-971
482,372
-688,933
-552
1,713,715
2,195,535
1,803,669
1,114,736
activities
25,000

214,237
-25,000
248,319
214,237
223,319
-214,237
-248,319
-214,237
-248,319
Parent [Member]
activities
-217,074
-186,046

-140,732
-5,200

than 90 days
570,000

activities
429,268
-5,200
-1,267,625
-1,285,125
1,260,625
187,337
-152
1,278,125
-508,900
515,595
-1,202
180,185
-1,507
392,379
799,508
1,191,887
-192,753
378,660
185,907
activities
activities

Other
activities

activities
293,772
301,590

payable
-105,509
-69,530
100
69
-19,347
-1,975
1,111
497

excess of earnings
-54,064

longer than 90 days
Other
activities
Other
activities
activities
payable
-214,237
-2,070
63,063
-248,319
1,226
-339,952
-309,033
10,520
-2
-9,057
10,518
-9,057
-35,662
-16,500
-552
255,655
219,441
237,457
220,957
98,950
150,251
-186,820
-123,221
64
66
-186,756
-123,155

activities

owners
Other
activities
-51,001
-450,000
450,000
16,380
450,000
-258,219
-202,624
2
-247,140
-446
212,757
704
-505,805
-971
125,655
658,552
$784,207
-479,680
1,187,552
$707,872

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3 Months Ended

Mar. 31, 2015

Document and Entity Information

Consolidated Balance Sheets (USD $)

Accounts receivable, net

Capital in excess of par value

Mar. 31, 2015

Accumulated other comprehensive income

Consolidated Balance Sheets

Mar. 31, 2015 Dec. 31, 2014

Consolidated Statements of Operations

Net income attributable to MGM Resorts

Net income per share of common stock

Foreign currency translation adjustment

Consolidated Statements of Cash Flows

Accounts payable and accrued liabilities

Proceeds from treasury securities - maturities

Cash flows from financing activities

Organization. MGM Resorts International (the Company) is

The Company owns 51% and has a controlling interest in

The Company owns 50% of CityCenter, located between

The Company has entered into management agreements for

The Maryland Video Lottery Facility Location Commission has

The Companys subsidiary that will develop MGM Springfield

In 2013, the Company formed Las Vegas Arena Company, LLC

The Company has two reportable segments: wholly owned

Basis of Presentation and Significant

NOTE 2 BASIS OF PRESENTATION AND

Basis of presentation. As permitted by the rules and

In the opinion of management, the accompanying unaudited

The consolidated financial statements have been retroactively

Fair value measurements. Fair value measurements affect the

Property and equipment. As of March 31, 2015, the

Income tax provision. For interim income tax reporting the

The Company recognizes deferred tax assets, net of applicable

The Company generates significant excess foreign tax credits

The Company projects that it will be able to realize a benefit

Recently issued accounting standards. In May 2014, the

In February 2015, the FASB issued Accounting Standards

Assets Held For Sale

NOTE 3 ASSETS HELD FOR SALE

On April 1, 2015, the Company closed the sale of Railroad

Railroad Pass and Gold Strike have not been classified as

Investments in and Advances to

NOTE 4 INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED AFFILIATES

CityCenter Holdings, LLC CityCenter (50%)

Elgin Riverboat ResortRiverboat Casino Grand Victoria

Marina District Development Company Borgata (50%)

Income from unconsolidated affiliates

Non-operating items from unconsolidated affiliates

Summarized balance sheet information for CityCenter is as follows:

Property and other assets, net

Long-term debt and other long-term obligations

Summarized income statement information for CityCenter is as follows:

Net income (loss)

Three Months Ended

Three Months Ended

y contribution commitments related to the Las Vegas Arena.

ctors and relevant

cy, CityCenter will

Senior credit facility:

$1,450 million 4.25% convertible senior notes, due 2015, net