MGM RESORTS INTERNATIONAL Business Summary

MGM Resorts International (MGM) is a global leader in the integrated resort and entertainment industry, generating revenue through a diversified mix of casino gaming, luxury lodging, food and beverage, and live entertainment. The company’s business is structured into three primary segments: Las Vegas Strip Resorts, which accounts for nearly 60% of its EBITDAR; Regional Operations; and MGM China, which maintains a significant footprint in Macau. MGM has aggressively expanded its digital footprint through BetMGM, a joint venture with Entain, and its subsidiary LeoVegas, targeting the rapidly growing iGaming and sports betting markets. Positioned as a dominant force on the Las Vegas Strip, MGM competes directly with Caesars Entertainment, Wynn Resorts, and Las Vegas Sands for high-end hospitality market share, while its digital arm rivals platforms like DraftKings and FanDuel in the online wagering space. Founded in 1986 by Kirk Kerkorian, MGM is currently led by CEO and President William J. Hornbuckle, an industry veteran who has spearheaded the company’s sports-centric and digital transformation since 2020. The leadership team includes CFO Jonathan S. Halkyard, who brings extensive financial experience from Caesars and Disney, and COO Ayesha Molino, a long-time executive who assumed her current role in January 2026 to oversee global property operations. Gary Fritz serves as Chief Commercial Officer and President of MGM Digital, managing the company’s omni-channel and iGaming initiatives. The company is supported by a high-profile Board of Directors chaired by Paul J. Salem and includes notable figures such as Barry Diller of IAC, Keith Meister of Corvex Management, and Donna Langley of NBCUniversal. IAC remains a cornerstone investor, providing strategic alignment between MGM’s physical and digital entertainment ecosystems.