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

Ticker: MGM · Form: SC 13G/A · Filed: 2024-02-13T00:00:00.000Z

Sentiment: neutral

Topics: institutional-ownership, amendment, passive-investing

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

Who filed this SC 13G/A amendment regarding MGM Resorts International?

The Vanguard Group, with IRS Identification No. 23-1945930, filed this SC 13G/A amendment.

What is the total number of MGM Resorts International common shares beneficially owned by The Vanguard Group as reported in this filing?

The Vanguard Group beneficially owns 38,067,908 shares of MGM Resorts International common stock.

What percentage of MGM Resorts International's common stock does The Vanguard Group own, according to this filing?

The Vanguard Group owns 10.7% of the class of common stock of MGM Resorts International.

What was the 'Date of Event Which Requires Filing of this Statement' for this SC 13G/A?

The 'Date of Event Which Requires Filing of this Statement' was December 29, 2023.

Under which rule was this Schedule 13G filed?

This Schedule 13G was filed under Rule 13d-1(b), as indicated by the checked box in the filing.

From the Filing

0001104659-24-021462.txt : 20240213 0001104659-24-021462.hdr.sgml : 20240213 20240213170944 ACCESSION NUMBER: 0001104659-24-021462 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240213 DATE AS OF CHANGE: 20240213 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: MGM Resorts International CENTRAL INDEX KEY: 0000789570 STANDARD INDUSTRIAL CLASSIFICATION: HOTELS & MOTELS [7011] ORGANIZATION NAME: 05 Real Estate & Construction IRS NUMBER: 880215232 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-40054 FILM NUMBER: 24629070 BUSINESS ADDRESS: STREET 1: 3600 LAS VEGAS BLVD S CITY: LAS VEGAS STATE: NV ZIP: 89109 BUSINESS PHONE: 702-693-7120 MAIL ADDRESS: STREET 1: 3600 LAS VEGAS BLVD S. CITY: LAS VEGAS STATE: NV ZIP: 89109 FORMER COMPANY: FORMER CONFORMED NAME: MGM MIRAGE DATE OF NAME CHANGE: 20000823 FORMER COMPANY: FORMER CONFORMED NAME: MGM GRAND INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: GRAND NAME CO DATE OF NAME CHANGE: 19870713 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD GROUP INC CENTRAL INDEX KEY: 0000102909 ORGANIZATION NAME: IRS NUMBER: 231945930 STATE OF INCORPORATION: PA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482-2600 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482-2600 SC 13G/A 1 tv01451-mgmresortsinternatio.htm SCHEDULE 13G/A mgmresortsinternational SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Schedule 13G Under the Securities Exchange Act of 1934 (Amendment No.: 9)* Name of issuer:  MGM Resorts International Title of Class of Securities:  Common Stock CUSIP Number:  552953101 Date of Event Which Requires Filing of this Statement: December 29, 2023 Check the appropriate box to designate the rule pursuant to which this Schedule is filed: ☒ Rule 13d-1(b) ☐ Rule 13d-1(c) ☐ Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). (Continued on the following page(s))     13G CUSIP No.:  552953101 1.  NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON The Vanguard Group - 23-1945930 2.  CHECK THE APPROPRIATE [LINE] IF A MEMBER OF A GROUP A.  B.  X 3.  SEC USE ONLY 4.  CITIZENSHIP OF PLACE OF ORGANIZATION Pennsylvania (For questions 5-8, report the number of shares beneficially owned by each reporting person with:) 5.  SOLE VOTING POWER 0 6.  SHARED VOTING POWER 346,486 7.  SOLE DISPOSITIVE POWER 29,324,940 8.  SHARED DISPOSITIVE POWER 1,151,851 9.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 30,476,791 10.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES N/A 11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 8.92% 12.  TYPE OF REPORTING PERSON IA     SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Schedule 13G Under the Securities Act of 1934 Item 1(a) - Name of Issuer: MGM Resorts International Item 1(b) - Address of Issuer's Principal Executive Offices: 3600 Las Vegas Boulevard South Las Vegas, NV 89109 Item 2(a) - Name of Person Filing: The Vanguard Group - 23-19459