Vanguard Amends MGM Resorts Stake to 10.7% as of Dec 29, 2023

TL;DR

**Vanguard still owns a huge chunk of MGM, 10.7% as of year-end!**

AI Summary

The Vanguard Group, a major investment firm, filed an amended SC 13G/A on February 13, 2024, indicating a change in its ownership stake in MGM Resorts International. As of December 29, 2023, Vanguard holds 38,067,908 shares of MGM common stock, representing 10.7% of the company. This filing updates their previous disclosures and signals Vanguard's continued significant, but passive, investment in the casino and hospitality giant.

Why It Matters

This filing shows that a major institutional investor, Vanguard, maintains a substantial ownership in MGM Resorts, which can signal confidence in the company's long-term prospects to other investors.

Risk Assessment

Risk Level: low — This is a routine update from a passive institutional investor and does not indicate any immediate risk or significant change in company control.

Analyst Insight

A smart investor would view this as a routine disclosure from a major institutional holder, confirming Vanguard's continued, passive interest in MGM Resorts International. It doesn't suggest any immediate buy or sell action but reinforces that a large, diversified fund manager sees value in holding MGM shares.

Key Numbers

• 38,067,908 — Shares Owned (The total number of MGM Resorts International common shares beneficially owned by The Vanguard Group.)
• 10.7% — Ownership Percentage (The percentage of MGM Resorts International's common stock owned by The Vanguard Group, indicating a significant stake.)
• December 29, 2023 — Reporting Date (The specific date as of which Vanguard's ownership stake is being reported in this filing.)

Key Players & Entities

• MGM Resorts International (company) — the subject company of the filing
• The Vanguard Group (company) — the reporting person and institutional investor
• 38,067,908 (dollar_amount) — number of shares of common stock beneficially owned by Vanguard
• 10.7% (dollar_amount) — percentage of class beneficially owned by Vanguard
• December 29, 2023 (date) — date of the event requiring the filing
• February 13, 2024 (date) — date the SC 13G/A was filed

Forward-Looking Statements

• Vanguard will likely maintain a significant, passive stake in MGM Resorts International. (The Vanguard Group) — high confidence, target: Next 12-24 months
• MGM Resorts International's stock price will not be significantly impacted by this routine filing alone. (MGM Resorts International) — high confidence, target: Next 1-3 months

FAQ

Filing Documents

• tv01451-mgmresortsinternatio.htm (SC 13G/A) — 11KB
• 0001104659-24-021462.txt ( ) — 13KB

(a) - Name of Issuer

Item 1(a) - Name of Issuer: MGM Resorts International

(b) - Address of Issuer's Principal Executive Offices

Item 1(b) - Address of Issuer's Principal Executive Offices: 3600 Las Vegas Boulevard South Las Vegas, NV 89109

(a) - Name of Person Filing

Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930

(b) – Address of Principal Business Office or, if none, residence

Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355

(c) – Citizenship

Item 2(c) – Citizenship: Pennsylvania

(d) - Title of Class of Securities

Item 2(d) - Title of Class of Securities: Common Stock

(e) - CUSIP Number

Item 2(e) - CUSIP Number 552953101

- Type of Filing

Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).

- Ownership

Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.

- Ownership of Five Percent or Less of a Class

Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following

- Ownership of More Than Five Percent on Behalf of Another Person

Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable

- Identification and Classification of Members of Group

Item 8 - Identification and Classification of Members of Group: Not applicable

- Notice of Dissolution of Group

Item 9 - Notice of Dissolution of Group: Not applicable

- Certification

Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration

View Full Filing

View this SC 13G/A filing on SEC EDGAR