MGM RESORTS INTERNATIONAL - 10-Q - Management's Discussion and Analysis of Financial Condition and Results of Operations - Marketscreener.com

Description of our business
Impact of COVID-19 – Update
Other Developments
expiration, and also includes material changes to the rights and obligations provided for under the new gaming concessions to be awarded in the upcoming public tender, such as limiting the term of concessions to a maximum of 10 years.
Key Performance Indicators
Key performance indicators related to gaming and hotel revenue are:
Additional key performance indicators at MGM China are:
Results of Operations
Summary Operating Results
Certain of our properties or portions thereof were temporarily closed due to COVID-19 during the comparative periods in 2021 as follows:
The following table summarizes our consolidated operating results:
2,267,962 $ 6,119,197 $ 3,915,709 Operating income
The following table presents a detail by segment of net revenues:
Las Vegas Strip Resorts
973,822 $ 585,567
1,181,296 443,043
945,040 306,050
411,387 606,985
$ 182 $ 88
Regional Operations
MGM China
The following table shows key gaming statistics for MGM China:
Corporate and other
Adjusted Property EBITDAR and Adjusted EBITDAR
Las Vegas Strip Resorts
Regional Operations
MGM China
Supplemental Information – Same-store Results of Operations
1,004,568 $ 3,800,068 $ 1,549,532 Acquisitions (1)
Las Vegas Strip Resorts same-store net revenues $ 1,604,336 $ 1,004,568 $ 2,955,935 $ 1,549,532
Las Vegas Strip Resorts Adjusted Property EBITDAR $ 825,267 $ 396,805 $ 1,418,901 $ 504,924 Acquisitions (1)
396,805 $ 1,071,349 $ 504,924
(1)Excludes the net revenues and Adjusted Property EBITDAR of The Cosmopolitan and Aria.
Income (loss) from Unconsolidated Affiliates
The following table summarizes information related to our share of operating income (loss) from unconsolidated affiliates:
In June 2021, CityCenter closed the sale of its Harmon land, for which we recorded a $50 million gain within our share of operating income from unconsolidated affiliates.
Non-operating Results
Interest Expense
Other, net
Income Taxes
Our effective income tax rate was a provision of 26.1% and 25.3% on income before income taxes for the three and six months ended June 30, 2022, respectively, compared to a provision of 27.8% on income before income taxes and a benefit of 19.6% on loss before income taxes for the three and six months ended June 30, 2021, respectively.
Reportable segment GAAP measure
Non-GAAP measures
income from unconsolidated affiliates, and income from unconsolidated affiliates related to investments in real estate ventures.
The following table presents a reconciliation of net income (loss) attributable to MGM Resorts International to Adjusted EBITDAR:
Guarantor Financial Information
associated with The Mirage and Gold Strike Tunica are included within current assets and other current liabilities, respectively, within the summarized financial information.
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