MGM Resorts Enters Material Definitive Agreement

Ticker: MGM · Form: 8-K · Filed: 2024-04-03T00:00:00.000Z

Sentiment: neutral

Topics: material-agreement, financial-obligation

TL;DR

MGM just signed a big financial deal, details to come.

AI Summary

On March 29, 2024, MGM Resorts International entered into a material definitive agreement related to a financial obligation. The filing indicates the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement for the registrant.

Why It Matters

This filing signals a significant financial commitment or arrangement for MGM Resorts, potentially impacting its financial obligations and future operations.

Risk Assessment

Risk Level: medium — Material definitive agreements can introduce new financial obligations or risks that may affect the company's financial health.

Key Players & Entities

FAQ

What specific type of material definitive agreement did MGM Resorts International enter into?

The filing states the agreement relates to the 'Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant', but does not specify the exact nature of the agreement.

What is the effective date of this material definitive agreement?

The earliest event reported in relation to this agreement is March 29, 2024.

Does the filing provide any details on the financial terms or amounts involved in this agreement?

No, this 8-K filing does not disclose specific dollar amounts or financial terms related to the agreement.

What is the primary business of MGM Resorts International according to the filing?

According to the filing, MGM Resorts International is in the 'HOTELS & MOTELS' industry, SIC code 7011.

Where are MGM Resorts International's principal executive offices located?

MGM Resorts International's principal executive offices are located at 3600 Las Vegas Boulevard South, Las Vegas, Nevada 89109.

From the Filing

0000789570-24-000009.txt : 20240403 0000789570-24-000009.hdr.sgml : 20240403 20240403163119 ACCESSION NUMBER: 0000789570-24-000009 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 13 CONFORMED PERIOD OF REPORT: 20240329 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant FILED AS OF DATE: 20240403 DATE AS OF CHANGE: 20240403 FILER: 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: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10362 FILM NUMBER: 24819270 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 8-K 1 mgm-20240329.htm 8-K mgm-20240329 0000789570 FALSE 0000789570 2024-03-29 2024-03-29   UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): March 29, 2024 MGM Resorts International (Exact name of Registrant as Specified in its Charter) Delaware 001-10362 88-0215232 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.) 3600 Las Vegas Boulevard South , Las Vegas , Nevada   89109 (Address of principal executive offices – Zip Code) Registrant’s Telephone Number, Including Area Code: ( 702 ) 693-7120 Not Applicable (Former Name or Former Address, if Changed Since Last Report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:   ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) 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 $0.01)   MGM   New York Stock Exchange NYSE Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CRF § 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CRF § 240.12b-2). 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.  ☐     ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT MGM Resorts International (the “Company”) entered into a Core Shareholders, etc. Support Letter, dated as of March 29, 2024 (the “Support Letter”) by and between, among others, the Company as completion guarantor, MGM Resorts Japan, LLC as core shareholder (“MGM Resorts Japan”), ORIX Corporation as core shareholder and completion guarantor (“ORIX”), Osaka IR KK as borrower (the “Venture&#8

View on Read The Filing