| Schedule of Long-Term Debt |
Long-term debt consisted of the following: | | | | | | | | | | | | | | | | | | December 31, | | | | 2025 | | 2024 | | | | (In thousands) | Senior secured yen credit facility | | $ | 346,528 | | | $ | — | | MGM China revolving credit facility | | 488,247 | | | — | | | MGM China first revolving credit facility | | — | | | 477,567 | | 5.25% MGM China senior notes, due 2025 | | — | | | 500,000 | | 5.875% MGM China senior notes, due 2026 | | 750,000 | | | 750,000 | | 4.625% senior notes, due 2026 | | 400,000 | | | 400,000 | | 5.5% senior notes, due 2027 | | 675,000 | | | 675,000 | | 4.75% MGM China senior notes, due 2027 | | 750,000 | | | 750,000 | | 4.75% senior notes, due 2028 | | 750,000 | | | 750,000 | | 6.125% senior notes, due 2029 | | 850,000 | | | 850,000 | 7.125% MGM China senior notes, due 2031 | | 500,000 | | | 500,000 | 6.5% senior notes, due 2032 | | 750,000 | | | 750,000 | 7% debentures, due 2036 | | 552 | | | 552 | | | | | 6,260,327 | | | 6,403,119 | | Less: Unamortized discounts and debt issuance costs, net | | (30,186) | | | (41,021) | | | | | $ | 6,230,141 | | | $ | 6,362,098 | |
|
| Schedule of Interest Expense, Net |
Interest expense, net consisted of the following: | | | | | | | | | | | | | | | | | | | | | | | | Year Ended December 31, | | | | 2025 | | 2024 | | 2023 | | | | (In thousands) | | Total interest incurred | | $ | 421,143 | | | $ | 445,660 | | | $ | 463,175 | | | Interest capitalized | | (2,101) | | (2,430) | | (2,882) | | | | $ | 419,042 | | | $ | 443,230 | | | $ | 460,293 | |
|
| Schedule of Maturities of Long-Term Debt |
The maturities of the principal amount of the Company’s long-term debt as of December 31, 2025 were as follows: | | | | | | | | | Year ending December 31, | | (In thousands) | | 2026 | | $ | 1,150,000 | | | 2027 | | 1,425,000 | | | 2028 | | 750,000 | | | 2029 | | 850,000 | | | 2030 | | 834,775 | | | Thereafter | | 1,250,552 | | | | | $ | 6,260,327 | |
|