美高梅 2026年季度报告

(Mark One) ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934 For the quarterly period ended June30, 2026OR MGM Resorts International(Exact name of registrant as specified in its charter) 88-0215232 (I.R.S. EmployerIdentification No.) 3600 Las Vegas Boulevard South, Las Vegas, Nevada 89109(Address of principal executive offices) (Zip Code)(702) 693-7120(Registrant’s telephone number, including area code) Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to suchfiling requirements for the past 90 days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submitsuch files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, oran emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growthcompany” in Rule 12b-2 of the Exchange Act. Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with anynew or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☒ Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date. Class Outstanding at July27, 2026 Common Stock, $0.01 par value 251,592,756 shares MGM RESORTS INTERNATIONAL AND SUBSIDIARIESFORM 10-QI N D E X FINANCIAL INFORMATION1Financial Statements (Unaudited)1Consolidated Balance Sheets at June 30, 2026 and December 31, 20251Consolidated Statements of Operations for the Three and Six Months Ended June 30, 2026and June 30, 20252Consolidated Statements of Comprehensive Income for the Three and Six Months EndedJune 30, 2026 and June 30, 20253Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2026 and June30, 20254Consolidated Statements of Stockholders’ Equity for the Three and Six Months Ended June30, 2026 and June 30, 20255Condensed Notes to Consolidated Financial Statements7Management’s Discussion and Analysis of Financial Condition and Results of Operations20Quantitative and Qualitative Disclosures About Market Risk33Controls and Procedures33OTHER INFORMATION34Legal Proceedings34Risk Factors34Unregistered Sales of Equity Securities and Use of Proceeds34Other Information34Exhibits35 Item 2.Item 3.Item 4.PART II.Item 1.Item 1A.Item 2.Item 5.Item 6.SIGNATURES MGM RESORTS INTERNATIONAL AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF CASH FLOWS(In thousands)(Unaudited) MGM RESORTS INTERNATIONAL AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS(Unaudited) NOTE 1 — ORGANIZATION Organization.MGM Resorts International, a Delaware corporation, (together with its consolidated subsidiaries, unlessotherwise indicated or unless the context requires otherwise, the “Company”) is a global gaming and entertainment company withdomestic and international locations featuring hotels and casinos, convention, dining, and retail offerings, and sports betting and onlinegaming operations. As of June30, 2026, the Company’s domestic casino resorts include the following integrated casino, hotel and entertainmentresorts in Las Vegas, Nevada: Aria (including Vdara), Bellagio, The Cosmopolitan of Las Vegas (“The Cosmopolitan”), MGM GrandLas Vegas (including The Signature), Mandalay Bay (including W Las Vegas and Four Seasons), Luxor, New York-New York, ParkMGM (including The Reserve at Park MGM), and Excalibur. The Company also operates MGM Grand Detroit in Detroit, Michigan,MGM National Harbor in Prince George’s County, Maryland, MGM Springfield in Springfield, Massachusetts, Borgata in AtlanticCity, New Jersey, Empire City in Yonkers, New York, and Beau Rivage in Biloxi, Mississippi. Additionally, the Company operates ThePark, a dining and entertainment district located between New York-New York and Park MGM. The Company leases the real estateassets of its domestic properties pursuant to triple net lease agreements. As of June30, 2026, the Company has an approximate 56% controlling interest in MGM China Holdings Limited (togetherwith its subsidiaries, “MGM China”), which owns MGM Grand Paradise, S.A. (“MGM Grand Paradise”). MGM Grand Paradise ownsand operates MGM Macau and MGM Cotai, two integrated casino,