MGM Resorts is one of the world's leading casino and hotel companies. It owns and operates 15 properties located in Nevada, Mississippi and Michigan, and has 50% investments in four other properties in Nevada, New Jersey, Illinois and Macau.
The company dominates the Las Vegas Strip with major resort properties including the Bellagio, MGM Grand, Mandalay Bay, Mirage, New York-New York, Circus Circus, Monte Carlo and Luxor.
The company has a 50% joint ownership of the Borgata casino in Atlantic City with Boyd Gaming.
MGM also has a 51% interest in MGM China Holdings Limited, which owns the MGM Macau resort and casino and is in the process of developing a resort on Cotai that will open in 2016.
MGM Resorts built CityCenter, a massive $9 billion dollar condo-hotel-casino development project in the heart of the Las Vegas Strip, that opened in late 2009. However, the development has not performed well so far and the value of CityCenter has been written down by several billion dollars. The Harmon Hotel that was supposed to be part of CityCenter had construction defects and is being demolished.
In 2013, MGM Grand Casino in Las Vegas opened Hakkasan, a massive high-end restaurant and nightclub, built at a reported cost of $200 million.
MGM reported net revenue of $9.8 billion in 2013, up from $9.16 billion the previous year. Net income was $56.5 million. The company has over $13 billion in long-term debt.
In 2013, MGM won the sixth casino license in the state of Maryland and will build MGM National Harbor on the banks of the Potomac River with construction beginning this year. MGM has also won a license to build a casino in Springfield, MA.
The company was formed in 2000 by the merger of MGM Grand Inc. and Mirage Resorts. The MGM Grand name comes from MGM (Metro-Goldwyn-Mayer) movie studios. The company acquired Mandalay Resorts Group in 2005 for $7.9 billion.
The company sold the Treasure Island casino in Las Vegas in March 2009 for $775 million to entrepreneur Phil Ruffin.
The company officially changed its name from MGM Mirage to MGM Resorts International in 2010.
Child Development Center
Children's Choice Learning Centers are dedicated to creating a nurturing environment for our most precious natural resource-our children. Children's Choice offers employees of MGM MIRAGE and its hotels and casinos discounted fees, hourly rates, payroll deduction and the convenience of five locations throughout Las Vegas, including one on MGM Grand property. Children's Choice offers:
- Highest quality 24-hour early care and
Updated July 5, 2014