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TAKING CENTER STAGE2016 ANNUAL MEETING OF SHAREHOLDERS
SAFE HARBOR PROVISIONCautionary Statement Concerning Forward-Looking Statements: Statements in this presentation that are not historical facts are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995 and involve risks and/or uncertainties, including those described in the Company’s public filings with the Securities and Exchange Commission. The Company has based forward-looking statements on management’s current expectations and assumptions and not on historical facts. Examples of these statements include, but are not limited to, statements regarding the Company's ability to execute on future development and other projects, such as the Profit Growth Plan, the expected results of the Profit Growth Plan, the realization of any benefits from the MGP transactions (including the recently announced Borgata transaction), the closing of the Borgata transaction and the Company's ability to execute its strategic initiatives and improve its credit rating. Among the important factors that could cause actual results to differ materially from those indicated in such forward-looking statements include effects of economic conditions and market conditions in the markets in which the Company operates and competition with other destination travel locations throughout the United States and the world, the design, timing and costs of expansion projects, risks relating to international operations, permits, licenses, financings, approvals and other contingencies in connection with growth in new or existing jurisdictions and additional risks and uncertainties described in the Company’s Form 10-K, Form 10-Q and Form 8-K reports (including all amendments to those reports). In providing forward-looking statements, the Company is not undertaking any duty or obligation to update these statements publicly as a result of new information, future events or otherwise, except as required by law. If the Company updates one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those other forward-looking statements.
Use of Non-GAAP Financial Measures: The financial information included in this presentation includes non-GAAP financial measures. The Company’s management uses non-GAAP financial measures to evaluate the Company’s performance and provides them to investors as a supplement to the Company’s reported results, as they believe this information provides additional insight into the Company’s operating performance by disregarding certain non-recurring items. Reconciliations can be found in the financial schedules accompanying the Company’s earnings releases.
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Catherine ParkExecutive Director, Investor Relations
TAKING CENTER STAGE2016 ANNUAL MEETING OF SHAREHOLDERS
Jim MurrenChairman & Chief Executive Officer
IN MEMORIAM
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KIRK KERKORIAN
(1917-2015)
TAKING CENTER STAGE2016 ANNUAL MEETING OF SHAREHOLDERS
2014 2015
$2,215$3,282
$6,975$6,800
U.S. Operations Macau
OPERATING PERFORMANCE
Note: $ in millions; Source: Company Filings
Net Revenue Adjusted Property EBITDA
(MGM RESORTS CONSOLIDATED)
$9,190$10,082
2014 2015
$540$850
$1,985$1,618
U.S. Operations Macau
$2,469 $2,525
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MGM IS A LEADER
✓ Entertainment
✓ Hotel & Convention Business
✓ Corporate Social Responsibility
✓ Development of Integrated Resorts
✓ Operational Excellence
✓ Driving Long-Term Sustainable Shareholder Value
MGM Resorts is taking center stage as a market leader in…
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ENTERTAINMENT
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MGM IS A LEADER
✓ Entertainment
✓ Hotel & Convention Business
✓ Corporate Social Responsibility
✓ Development of Integrated Resorts
✓ Operational Excellence
✓ Driving Long-Term Sustainable Shareholder Value
MGM Resorts is taking center stage as a market leader in…
11
HOTEL & CONVENTIONS
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MGM IS A LEADER
✓ Entertainment
✓ Hotel & Convention Business
✓ Corporate Social Responsibility
✓ Development of Integrated Resorts
✓ Operational Excellence
✓ Driving Long-Term Sustainable Shareholder Value
MGM Resorts is taking center stage as a market leader in…
13
CORPORATE SOCIAL RESPONSIBILITY
14
MGM IS A LEADER
✓ Entertainment
✓ Hotel & Convention Business
✓ Corporate Social Responsibility
✓ Development of Integrated Resorts
✓ Operational Excellence
✓ Driving Long-Term Sustainable Shareholder Value
MGM Resorts is taking center stage as a market leader in…
15
MGM NATIONAL HARBOR
16
Rendering Aerial
Construction as of 4/20/16 Aerial
Expected To Open Late 2016
MGM SPRINGFIELD
Rendering
Front Exterior
17
Rendering
Aerial
Rendering
Front Exterior
Expected To Open Late 2018
MGM COTAI
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Rendering
Front Exterior
Construction as of 4/25/16 Front Exterior
Expected To Open 1Q 2017
MGM IS A LEADER
✓ Entertainment
✓ Hotel & Convention Business
✓ Corporate Social Responsibility
✓ Development of Integrated Resorts
✓ Operational Excellence
✓ Driving Long-Term Sustainable Shareholder Value
MGM Resorts is taking center stage as a market leader in…
19
OPERATIONAL EXCELLENCEMGM’s Profit Growth Plan was created to challenge, reinvigorate and
empower our Company to take a smarter, more innovative approach to the way we operate our business...
…with the ultimate goal of creating an embedded culture of operational excellence and continuous improvement
Improve Guest Experience
Leverage Size & Scale
Operate More Efficiently
Operate More Effectively
Generate Incremental Revenue & Cash Flow
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MGM IS A LEADER
✓ Entertainment
✓ Hotel & Convention Business
✓ Corporate Social Responsibility
✓ Development of Integrated Resorts
✓ Operational Excellence
✓ Driving Long-Term Sustainable Shareholder Value
MGM Resorts is taking center stage as a market leader in…
21
MGM GROWTH PROPERTIES
Priced at $21/ share, the top of the $18-$21 range
Largest IPO this year
3rd largest REIT IPO ever
Highlights the significant inherent value of MGM’s real estate
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BORGATA HOTEL CASINO & SPA
Premier market leading asset in the second largest gaming market
Leverage neutral transaction that executes on MGM’s growth strategyMGM to leverage scale, loyalty program and Profit Growth Plan to enhance growth
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TWO-NOTCH RATING AGENCY UPGRADES
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Moody’s Fitch
Ba3
B2 B+
Ba3
B2
B1
Corporate Family Rating Issuer Default Rating
BB
B1 BB-
BB
BB-
B+
MGM STOCK PERFORMANCE VS PEERS
25(Indexed 2015 U.S. Stock Performance)
MGM Resorts WYNN LVS CZR
MGM+6%
Wynn-53%
LVS-25%CZR-50%
TAKING CENTER STAGE2016 ANNUAL MEETING OF SHAREHOLDERS