ANNUAL REPORT

1 20. 20. ANNUAL REPORT . THANK. OUR EMPLOYEES. HAVE SHOWN THE. STRENGTH OF. RESILIENCE. YOU. UNITED STATES. SECURITIES AND EXCHANGE COMMISSION. washington , 20549. FORM 10-K. (Mark One). ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the fiscal year ended December 31, 2020. OR. TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transition period from to Commission File No. 001-10362. MGM RESORTS INTERNATIONAL. (Exact name of Registrant as specified in its charter). DELAWARE 88-0215232. (State or other jurisdiction of ( Employer incorporation or organization) Identification Number). 3600 Las Vegas Boulevard South - Las Vegas, Nevada 89109.

2 (Address of principal executive office) (Zip Code). (702) 693-7120. (Registrant's telephone number, including area code). Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $ Par Value MGM New York Stock Exchange (NYSE). Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the Registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes No . Indicate by check mark if the Registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes No . 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 of 1934 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 such filing requirements for the past 90 days: Yes No.

3 Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T ( of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such 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, or an emerging growth company. See the definitions of large accelerated filer, accelerated filer, smaller reporting company, and emerging growth company in Rule 12b-2 of the Exchange Act. Large accelerated filer Accelerated filer . Non-accelerated filer Smaller reporting company.

4 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 any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.. Indicate by check mark whether the registrant has led a REPORT on and attestation to its management's assessment of the e ectiveness of its internal control over nancial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 7262(b)) by the registered public accounting rm that prepared or issued its audit REPORT .. Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Act): Yes No . The aggregate market value of the Registrant's Common Stock held by non-affiliates of the Registrant as of June 30, 2020 (based on the closing price on the New York Stock Exchange Composite Tape on June 30, 2020) was $ billion.

5 As of February 23, 2021, 494,853,355 shares of Registrant's Common Stock, $ par value, were outstanding. DOCUMENTS INCORPORATED BY REFERENCE. Portions of the Registrant's definitive Proxy Statement for its 2021 ANNUAL Meeting of Stockholders are incorporated by reference into Part III of this Form 10- K. TABLE OF CONTENTS. Page PART I. Item 1. Business 1. Item 1A. Risk Factors 14. Item 1B. Unresolved Staff Comments 31. Item 2. Properties 32. Item 3. Legal Proceedings 33. Item 4. Mine Safety Disclosures 33. PART II. Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 34. Item 6. Removed and Reserved 36. Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 36.

6 Item 7A. Quantitative and Qualitative Disclosures About Market Risk 57. Item 8. Financial Statements and Supplementary Data 58. Consolidated Financial Statements 62. Notes to Consolidated Financial Statements 67. Schedule II Valuation and Qualifying Accounts 103. Item 9. Changes In and Disagreements with Accountants on Accounting and Financial Disclosure 104. Item 9A. Controls and Procedures 104. Item 9B. Other Information 104. PART III. Item 10. Directors, Executive Officers and Corporate Governance 105. Item 11. Executive Compensation 105. Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 105. Item 13. Certain Relationships and Related Transactions, and Director Independence 105.

7 Item 14. Principal Accounting Fees and Services 105. PART IV. Item 15. Exhibits, Financial Statements Schedules 106. Item 16. Form 10-K Summary 114. Signatures 115. PART I. ITEM 1. BUSINESS. MGM Resorts International is referred to as the Company, MGM Resorts, or the Registrant, and together with its subsidiaries may also be referred to as we, us or our. MGM China Holdings Limited together with its subsidiaries is referred to as MGM China. Except where the context indicates otherwise, MGP refers to MGM Growth Properties LLC together with its consolidated subsidiaries. Overview MGM Resorts International is a Delaware corporation incorporated in 1986 that acts largely as a holding company and, through subsidiaries, owns and operates integrated casino, hotel, and entertainment resorts across the United States and in Macau.

8 We believe we own or invest in several of the finest casino resorts in the world and we continually reinvest in our resorts to maintain our competitive advantage. We make significant investments in our resorts through newly remodeled hotel rooms, restaurants, entertainment and nightlife offerings, as well as other new features and amenities. We believe we operate the highest quality resorts in each of the markets in which we operate. Ensuring our resorts are the premier resorts in their respective markets requires capital investments to maintain the best possible experiences for our guests. MGM Growth Properties LLC ( MGP ), is a consolidated subsidiary of the Company. Substantially all of its assets are owned by and substantially all of its businesses are conducted through its subsidiary MGM Growth Properties Operating Partnership LP (the Operating Partnership ).

9 As of December 31, 2020, pursuant to a master lease agreement between a subsidiary of ours and a subsidiary of the Operating Partnership, we lease the real estate assets of The Mirage, Luxor, New York-New York, Park MGM, Excalibur, The Park, Gold Strike Tunica, MGM Grand Detroit, Beau Rivage, Borgata, Empire City, MGM National Harbor, and MGM Northfield Park. See Note 1 in the accompanying consolidated financial statements for information regarding MGP and the Operating Partnership, which we consolidate in our financial statements, and Note 18 in the accompanying consolidated financial statements for information regarding the master lease with MGP. Pursuant to a lease agreement between a subsidiary of ours and a venture that is 5% owned by such subsidiary and 95% owned by a subsidiary of Blackstone Real Estate Income Trust, Inc.

10 ( BREIT , and such venture, the Bellagio BREIT Venture ), we lease the real estate assets of Bellagio. Additionally, pursuant to a lease agreement between a subsidiary of ours and a venture that is owned by a subsidiary of the Operating Partnership and by a subsidiary of BREIT (such venture, the MGP BREIT Venture ), we lease the real estate assets of Mandalay Bay and MGM Grand Las Vegas. Refer to Note 11 for further discussion of the leases. Business Developments In August 2016, we acquired the remaining 50% ownership interest in Borgata, at which time Borgata became a wholly owned consolidated subsidiary of ours. Subsequently, MGP acquired Borgata's real property from us and Borgata was added to the master lease between us and MGP.