The 10-K highlights ongoing focus on key growth opportunities, including developing an integrated resort in Japan, investing in BetMGM North America Venture, advancing international digital opportunities, and exploring a full-scale commercial gaming opportunity in New York.

The 10-K states that visitation during 2023 and 2024 rebounded, and the company expects the long-term future growth of the Asian gaming market to drive additional visitation at MGM Macau and MGM Cotai.

MGM Digital net revenues increased 28% in 2024 compared to 2023 due primarily to entry into new markets in the current year.

The 10-K mentions that the company continues to enhance the efficiency of its operating model by optimizing its Centers of Excellence and achieving best-in-class operating performance through adjustments within corporate and business units. In addition, they have and will continue to refine several improvement and cost cutting initiatives focused on labor, sourcing, and revenue generation.

The 10-K emphasizes a focus on fostering a people-driven culture exemplified by core company values, enhancing talent attraction and development, and supporting local hiring and workforce development strategies.

The 10-K acknowledges a cybersecurity issue in September 2023 that resulted in some system shutdowns and operational disruptions at domestic properties, requiring expenses for technology consulting, legal fees, and third-party advisors.

The 10-K highlights the risk that substantial indebtedness and financial commitments, including rent payments and guarantees, could adversely affect operations, development options, and financial results and impact the ability to satisfy obligations.

The 10-K acknowledges significant competition with respect to destination travel locations and with respect to peers in the industries in which the company competes, including increased competition through online sports betting and iGaming.

The 10-K states that the company's businesses are subject to extensive regulation and the cost of compliance or failure to comply with such regulations may adversely affect the business and results of operations.

The 10-K states that key competitors in Macau include five other gaming concessionaires and competition from major gaming centers located in other areas of Asia and around the world.

The 10-K states that major competitors, including new entrants, may expand their hotel room capacity, expand their range of amenities, improve their level of service, or construct new resorts in Las Vegas, Macau or in the domestic regional markets.

The 10-K states that digital businesses face significant competition from other industry participants as well as the broader gaming and entertainment industries.

The 10-K mentions enhancing efficiency by optimizing Centers of Excellence and achieving best-in-class operating performance through adjustments within corporate and business units, as well as refining improvement and cost cutting initiatives focused on labor, sourcing, and revenue generation.

The 10-K states that a significant portion of the labor force is covered by collective bargaining agreements, which could lead to work stoppages and other labor problems.

The 10-K states that the business is particularly sensitive to energy prices and a rise in energy prices could harm operating results.

The 10-K highlights the belief that technology, powered by advanced data and analytics capabilities, enables the delivery of highly personalized digital experiences and targeted marketing that elevate the guest experience.

The 10-K mentions continuing to expand the digital portfolio by enhancing e-commerce and seamlessly integrating physical resorts with digital casino and sports betting experiences.

The 10-K acknowledges reliance on information systems and the risk that failure to maintain the integrity of these systems could result in damage to reputation and subject the company to fines, payment of damages, lawsuits, and restrictions on data use.

The 10-K states that the financial strategy is focused on maintaining and enhancing existing properties, pursuing strategic growth through mergers, acquisitions and development, repaying debt and maximizing shareholder returns.

The 10-K indicates that the Board of Directors determined to suspend ongoing dividends in order to focus on the preferred method of returning value to shareholders through the share repurchase plan.

The 10-K states that the company has planned capital expenditures in 2025 of approximately $1.1 billion to $1.2 billion on a consolidated basis, of which approximately $225 million to $275 million relates to MGM China.

The 10-K emphasizes a commitment to environmental and social responsibility, with a dedicated board committee focused on Corporate Social Responsibility and Sustainability.

The 10-K mentions continued progress on key social impact and sustainability initiatives and disclosures, supporting the commitment to MGM Resorts' Focused on What Matters platform and the UN Sustainable Development Goals.

The 10-K states that in 2023, the Science Based Target Initiative approved the company's climate targets as science-based and in line with the goals of the Paris Agreement.

The 10-K states that the business is affected by economic and market conditions in the jurisdictions in which the company operates and in the locations in which its customers reside.

The 10-K mentions that Macau laws and regulations concerning gaming and gaming concessions are complex, and a court or administrative or regulatory body may in the future render an interpretation of these laws and regulations, or issue new or modified regulations, that differ from MGM China's interpretation.

The 10-K states that leisure and business travel, especially travel by air, are particularly susceptible to global geopolitical events, such as terrorist attacks, other acts of violence or acts of war or hostility or the outbreak of infectious diseases.