v3.25.4
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Schedule of Debt Investments
The following table presents information regarding the Company’s debt investments:
Fair value levelDecember 31,
20252024
(In thousands)
Cash and cash equivalents:
Money market fundsLevel 1$158,564 $52,794 
Cash and cash equivalents158,564 52,794 
Short-term investments:
U.S. government securitiesLevel 162,267 19,075 
Corporate bondsLevel 2135,211 171,117 
Asset backed securities
Level 212,681 9,960 
Short-term investments210,159 200,152 
Total debt investments$368,723 $252,946 
Schedule of Estimated Useful Lives of Property and Equipment
Property and equipment are generally depreciated over the following estimated useful lives on a straight-line basis:

Building and improvements
15 to 40 years
Land improvements
10 to 20 years
Furniture and fixtures
3 to 20 years
Equipment
3 to 15 years
Property and equipment, net consisted of the following:
 December 31,
 20252024
 (In thousands)
Land$484,067 $484,338 
Building, building improvements, and land improvements
5,657,823 5,150,315 
Furniture, fixtures, and equipment
5,660,313 5,300,400 
Construction in progress379,559 600,945 
 12,181,762 11,535,998 
Less: Accumulated depreciation(6,113,009)(5,644,484)
Finance lease ROU assets, net236,861 304,645 
 $6,305,614 $6,196,159 
Schedule of Contract and Contract - Related Liabilities
The following table summarizes the activity related to contract and contract-related liabilities:
 Outstanding Chip Liability Loyalty ProgramCustomer Advances and Other
 2025 20242025202420252024
 (In thousands)
Balance at January 1$215,710 $211,606 $215,005 $201,973 $825,236 $766,226 
Balance at December 31204,020 215,710 216,579 215,005 860,126 825,236 
Increase / (decrease)$(11,690)$4,104 $1,574 $13,032 $34,890 $59,010 
Schedule of Diluted Weighted-Average Number of Common and Common Equivalent Shares Adjustments for Potential Dilution of Share-Based Awards Outstanding The table below reconciles basic and diluted earnings per share of common stock. Diluted net income attributable to common stockholders includes adjustments for redeemable noncontrolling interests. Diluted weighted-average common and common equivalent shares include adjustments for potential dilution of stock-based awards outstanding under the Company’s stock compensation plan. Antidilutive share-based awards excluded from the diluted earnings per share calculation are not material.
 
Year Ended December 31,
 202520242023
Numerator:(In thousands)
Net income attributable to MGM Resorts International$205,862 $746,558 $1,142,180 
Adjustment related to redeemable noncontrolling interests5,228 (2,906)2,128 
Net income available to common stockholders - basic and diluted$211,090 $743,652 $1,144,308 
Denominator:
Weighted-average common shares outstanding - basic
275,046 307,408 354,926 
Potential dilution from stock-based awards2,229 2,824 3,701 
Weighted-average common and common equivalent shares - diluted
277,275 310,232 358,627