Current Ownership of MGM Grand
The MGM Grand Las Vegas is owned and operated by MGM Resorts International, a publicly traded gaming and hospitality company headquartered in Las Vegas, Nevada. The property operates under a long-term lease and management agreement with VICI Properties, which owns the land and real estate assets. VICI Properties leases the real estate to MGM Resorts International through a triple-net lease structure, a common model in modern casino real estate that separates property ownership from operations. This structure provides MGM Resorts with operational flexibility while VICI earns stable rental income from the high-traffic Strip location. Learn more about the REIT and leaseback model.
MGM Resorts International itself is controlled by its largest shareholder, a consortium of institutional investors and the company's founding family interests. The Kirk Kerkorian family trust, through Tracinda Corporation, remains a significant long-term shareholder in MGM Resorts International. As of the latest available public filings, the company has a broad institutional ownership base with major pension funds, mutual funds, and sovereign wealth funds holding substantial positions. The company is listed on the New York Stock Exchange under the ticker symbol MGM and is a component of the S&P 400 index. View the latest SEC filing for ownership details.
Corporate Structure and Key Entities
MGM Resorts International Overview
MGM Resorts International is the parent company that manages the MGM Grand Las Vegas, along with other major Strip properties including Mandalay Bay, The Mirage, and the Park MGM. The company was formed through the 2000 acquisition of Mirage Resorts by MGM Grand Inc., which was itself renamed MGM Mirage and later MGM Resorts International. The company operates 30 properties across the United States, with the Las Vegas Strip portfolio remaining its most iconic and high-revenue segment. Visit the official MGM Resorts corporate website.
VICI Properties and the Real Estate Separation
VICI Properties Inc. is a real estate investment trust that owns the land beneath the MGM Grand Las Vegas and many other major casino properties. VICI acquires real estate assets from gaming operators and leases them back through long-term triple-net leases, where the operator pays rent, taxes, insurance, and maintenance. This arrangement allows operators like MGM Resorts to free up capital for operations and development while VICI earns predictable, inflation-linked rental income. VICI is also publicly traded on the NYSE under the ticker VICI. Explore VICI Properties investor relations.
Ownership History and Key Transactions
Founding and Early Ownership
The MGM Grand Las Vegas originally opened in 1973 under the ownership of Kirk Kerkorian, the Armenian-American businessman and founder of Metro-Goldwyn-Mayer studios. Kerkorian's Tracinda Corporation was the primary driving force behind the project, and the property was originally named after his film studio. The original MGM Grand was sold and rebranded as Bally's in 1986, while the current MGM Grand property at the southern Strip end opened in 1993 under the MGM Grand name, also under Kerkorian's direction. Read about Kirk Kerkorian's legacy.