The acquisition of LeoVegas in September 2022 expands MGM Resorts' global online presence and digital capabilities. This strategic move aligns with the company's vision for growth and diversification.

Osaka IR KK signed an agreement with Osaka Prefecture and Osaka City in September 2023 to implement an Area Development Plan (ADP) for the development of an integrated resort in Osaka, Japan. This represents a significant step in expanding MGM Resorts' presence in Asia.

The sales of The Mirage and Gold Strike Tunica operations are part of MGM Resorts' asset-light business model, allowing for redeployment of capital into other growth opportunities. This strategic shift aims to improve balance sheet efficiency and shareholder returns.

MGM Resorts continues to maximize the benefits of its operating model by driving optimization of its Centers of Excellence and enabling best-in-class operations through adjustments within corporate and property business units. In addition, the company has implemented several improvement and cost cutting initiatives comprised of labor, sourcing, and revenue programs.

MGM Resorts is focused on using technology, digital and advanced data science/analytics capabilities to optimize customer experience and loyalty, employee productivity and engagement, operational efficiency and revenue growth. This indicates a commitment to innovation and efficiency.

The Cybersecurity Issue, together with the incident response efforts, resulted in some disruptions to business operations primarily during the third quarter of 2023 and also incurred expenses for technology consulting services, legal fees and other third-party advisors in connection with this issue during the second half of 2023.

The company acknowledges that its substantial indebtedness and significant financial commitments, including rent payments and guarantees, could adversely affect its operations and financial results and impact its ability to satisfy obligations.

The company states that its businesses are subject to extensive regulation and the cost of compliance or failure to comply with such regulations may adversely affect its business and results of operations.

The company acknowledges that the failure to maintain the integrity of its information and other systems or customer information can result in damage to its reputation, subject it to fines, payment of damages, lawsuits and restrictions on its use of data, and have a material adverse effect on its business, financial condition, and results of operations.

The company faces significant competition with respect to destination travel locations generally and with respect to our peers in the industries in which we compete, including increased competition through online sports betting and iGaming, and failure to compete effectively could materially adversely affect our business, financial condition, results of operations and cash flows.

Competition could increase if changes in gaming restrictions in the United States and elsewhere are enacted, including the addition of new gaming establishments located closer to our customers than our casinos.

The company's Macau operations compete to some extent with casinos located elsewhere in or near Asia, certain areas in the region have legalized casino gaming (including Japan) and others (such as Taiwan and Thailand) may legalize casino gaming (or iGaming) in the future.

All of our domestic gaming facilities are leased and could experience risks associated with leased property, including risks relating to lease termination, lease extensions, charges and our relationship with the lessor, which could have a material adverse effect on our business, financial position or results of operations.

Moreover, our businesses are capital intensive. For our owned, leased and managed properties to remain attractive and competitive, we must periodically invest significant capital to keep the properties well-maintained, modernized and refurbished.

Our business is particularly sensitive to energy prices and a rise in energy prices could harm our operating results.

The company believes technology, digital and advanced data science/analytics capabilities are critical to optimizing customer experience and loyalty, employee productivity and engagement, operational efficiency and revenue growth. This indicates a commitment to innovation and efficiency.

The company relies extensively on its information and other systems and those of third parties to process transactions, maintain and communicate information, and manage its businesses, including at its properties and on its website and digital platforms. Disruptions in these systems, through cyber-attacks or otherwise, have in the past and can in the future be expected to impact our ability to service our customers and adversely affect our business, financial condition, and results of operations.

The company expanded its international digital presence in August 2023 when it launched the BetMGM brand in the UK, leveraging the technology of LeoVegas. The company seeks to further expand the BetMGM and LeoVegas brands into other geographies over time.

On February 8, 2023, the Board of Directors determined to suspend ongoing dividends in order to focus on returning value to shareholders through a share repurchase plan. This indicates a shift in capital allocation strategy.

In February and November of 2023, the Board of Directors authorized $2.0 billion stock repurchase plans respectively. This demonstrates a commitment to returning capital to shareholders and confidence in the company's financial position.

The company is making significant capital expenditures to maintain and upgrade its properties. This includes investments in room remodels, convention center remodels, and gaming equipment.

The company has a long-standing commitment to environmental and social responsibility and has a dedicated board committee focused on Corporate Social Responsibility and Sustainability.

In 2023, the Science Based Target Initiative (SBTi) approved the company's climate targets as science-based and in line with the goals of the Paris Agreement. This demonstrates a commitment to reducing environmental impact.

The company believes in the importance of responsible water usage throughout its operations and supply chain and has developed a water white paper that set the Company's ambition for water stewardship including a strategic framework and a global water policy to codify our commitment.

During the year ended December 31, 2023, Las Vegas visitor volume increased 5% compared to 2022 according to information published by the Las Vegas Convention and Visitors Authority. The Las Vegas market has experienced the expansion of convention center, sporting, music, and entertainment events in the current year, which have positively impacted business and leisure travel.

During the year ended December 31, 2023, Macau visitor arrivals increased 395% compared to 2022 according to statistics published by the Statistics and Census Service of the Macau Government, as 2022 was more negatively affected by travel and entry restrictions in Macau than in 2023.

Since the company expects a significant number of customers to come to MGM Macau and MGM Cotai from mainland China, general economic, regulatory, geopolitical and market conditions in China could impact financial prospects.