MGM Resorts International
Company History
MGM Resorts History: Founding, Growth & Key Milestones
Founded 1969 in Las Vegas, Nevada
When was MGM Resorts founded?
MGM Resorts was founded in 1969 in Las Vegas, Nevada by Kirk Kerkorian, making it 57 years old.
- Founded
- 1969
- Founding place
- Las Vegas, Nevada
- Founders
- Kirk Kerkorian
- Headquarters today
- Las Vegas, Nevada, United States
- Milestones documented
- 12 (1969–2025)
- Current CEO
- William Hornbuckle
- Acquisitions
- 4
| Year | Event |
|---|---|
| 1969 | Kerkorian Opens A Las Vegas Landmark |
| 1973 | MGM Grand Arrives In Las Vegas |
| 2000 | Mirage Resorts Acquisition |
| 2005 | Mandalay Resort Group Deal |
| 2009 | CityCenter Opens |
| 2010 | MGM Resorts International Name |
| 2016 | MGM Growth Properties IPO |
| 2018 | BetMGM Launches |
| 2020 | Bill Hornbuckle becomes CEO |
| 2020 | Paul Salem becomes chairman |
| 2022 | Cosmopolitan Acquired |
| 2025 | FY2025 Scale |
- Where was MGM Resorts founded?
- MGM Resorts was founded in Las Vegas, Nevada in 1969.
- Who founded MGM Resorts?
- MGM Resorts was founded by Kirk Kerkorian.
- When did MGM Resorts start?
- MGM Resorts was founded in 1969.
- How old is MGM Resorts?
- MGM Resorts is 57 years old as of 2026.
Founding Story
Kirk Kerkorian, a former wartime transport pilot who built a charter airline, opened the International Hotel in Las Vegas in 1969, the same year he bought control of the Metro-Goldwyn-Mayer film studio. He borrowed the studio's name for the original MGM Grand, which opened in 1973. MGM Grand Inc. was formed in 1986, opened the 5,005-room MGM Grand on Tropicana Avenue in 1993, and grew into today's company through the 2000 Mirage Resorts and 2005 Mandalay Resort Group acquisitions.
Founders
Kirk Kerkorian
Kirk Kerkorian was an American investor who opened the International Hotel in Las Vegas in 1969, took control of the MGM film studio the same year, and opened the original MGM Grand in 1973. He later formed MGM Grand Inc. in 1986, opened the 5,005-room MGM Grand in 1993, and through his holding company Tracinda remained MGM's controlling shareholder for decades. He died in 2015 at age 98. Kerkor "Kirk" Kerkorian was born on June 6, 1917 and died on June 15, 2015. He ran his investments through Tracinda Corporation, his private holding company in Beverly Hills. Kirk Kerkorian was born in 1917.
Key Milestones
Kerkorian Opens A Las Vegas Landmark
Kirk Kerkorian opens the International Hotel in Las Vegas, one of the roots of the MGM resort story.
Source: sec.govMGM Grand Arrives In Las Vegas
The MGM Grand Hotel brand gives Kerkorian's gaming and hospitality ambitions a global entertainment identity.
Source: sec.govMirage Resorts Acquisition
MGM Grand acquires Mirage Resorts, adding Bellagio, The Mirage, and other premium Las Vegas assets.
Source: sec.govMandalay Resort Group Deal
The Mandalay acquisition expands MGM's Las Vegas Strip and regional resort portfolio.
Source: sec.govCityCenter Opens
CityCenter adds Aria, Vdara, and a large mixed-use resort footprint to the Las Vegas Strip.
Source: sec.govMGM Resorts International Name
The company adopts the MGM Resorts International name to reflect a broader resort and entertainment strategy.
Source: sec.govMGM Growth Properties IPO
MGM Resorts listed its real estate arm, MGM Growth Properties, in April 2016.
Source: en.wikipedia.orgBetMGM Launches
MGM and Entain create BetMGM to pursue regulated sports betting and iGaming.
Source: sec.govBill Hornbuckle becomes CEO
Bill Hornbuckle became CEO of MGM Resorts International in 2020. Named acting CEO in March 2020 and permanent CEO later that year, Hornbuckle led MGM through the pandemic shutdown, the 2022 VICI sale-leaseback, the Cosmopolitan and LeoVegas acquisitions, the 2023 cyberattack, and the Osaka resort approval.
Source: sec.govPaul Salem becomes chairman
Paul Salem became chairman of MGM Resorts International in 2020. Leads the board, which in September 2026 confirmed MGM would continue as a standalone company after People Inc.
Source: investors.mgmresorts.comCosmopolitan Acquired
MGM Resorts bought the operations of The Cosmopolitan of Las Vegas in May 2022 for about $1.6 billion.
Source: en.wikipedia.orgMajor Acquisitions
Mirage Resorts
2000MGM Grand bought Mirage Resorts in 2000 for $21 a share, about $4.4 billion plus roughly $2 billion of assumed debt, adding Bellagio, The Mirage and Treasure Island and creating MGM Mirage.
Mandalay Resort Group
2005MGM Mirage acquired Mandalay Resort Group in 2005 for about $7.9 billion including assumed debt, adding Mandalay Bay, Luxor, Excalibur and Circus Circus.
The Cosmopolitan of Las Vegas (operations)
2022MGM bought the operations of The Cosmopolitan from Blackstone for $1.625 billion, adding a luxury resort between Bellagio and ARIA.
LeoVegas AB
2022MGM acquired Swedish online casino operator LeoVegas to build an international online gaming business outside BetMGM's North American footprint.
Keep researching MGM Resorts
MGM Resorts Company History FAQ
What are the major historical eras in MGM Resorts' development since 1969?
MGM's history spans key eras: the Kerkorian Founding and Original MGM Grand Era (1969 to 1980s), the Megaresort Boom and 1993 Green Emerald MGM Grand (1986 to 1990s), the Mega-Merger Era creating MGM Mirage (2000 to 2005), the CityCenter Development and Great Recession (2006 to 2010), the Rebranding to MGM Resorts and Macau Expansion (2010s), and the Asset-Light Digital & Japan Era (2020s under Hornbuckle).
How did the 1993 opening of the modern MGM Grand change Las Vegas entertainment?
Opened in December 1993 with 5,005 rooms, a 33-acre theme park, and the 16,800-seat MGM Grand Garden Arena, the resort became the global epicenter for championship boxing matches (Mike Tyson, Evander Holyfield, Floyd Mayweather) and large headline entertainment.
What was the monumental $8.5 billion CityCenter project opened in 2009?
CityCenter was the largest privately funded construction development in American history, spanning 67 acres between Bellagio and Monte Carlo. Opened in December 2009 during the depth of the Great Recession, it introduced ARIA Resort & Casino, Vdara, the Crystals luxury retail district, and luxury residential towers.
When did the company change its name to MGM Resorts International in 2010?
In June 2010, shareholders approved renaming MGM Mirage to MGM Resorts International. The new name reflected the company's evolution from a Nevada casino holding company into a diversified global entertainment and hospitality brand with international resorts and sports partnerships.
How did MGM Resorts support the Las Vegas community following the October 1, 2017 tragedy?
Following the tragic mass shooting at the Route 91 Harvest music festival opposite Mandalay Bay on October 1, 2017, MGM mobilized immediate crisis response teams, funded medical and emotional support for victims and first responders, settled legal claims through an $800 million fund in 2020, and championed community resilience.
How did MGM Resorts launch BetMGM in 2018 following the repeal of PASPA?
In May 2018, the US Supreme Court struck down the Professional and Amateur Sports Protection Act (PASPA), legalizing state-by-state sports betting. MGM immediately partnered with Entain to form BetMGM, scaling into one of the top three digital betting platforms in North America.
What was the significance of winning the Osaka, Japan integrated resort license in 2023?
In April 2023, the Japanese national government officially approved the Osaka prefectural integrated resort development plan submitted by MGM Resorts and ORIX. The historic approval granted MGM the exclusive right to build Japan's first commercial casino resort, opening an untapped $10B+ gaming market.
How has MGM transformed Las Vegas into the Sports Capital of the World?
MGM played a foundational role in bringing major league sports to Las Vegas: co-owning T-Mobile Arena to host the Vegas Golden Knights, acquiring the WNBA champion Las Vegas Aces, and hosting the Super Bowl, Formula 1, and NCAA championships, driving millions of sports tourists to the Strip.
How did Kirk Kerkorian build MGM Resorts?
Reclusive billionaire Kirk Kerkorian founded MGM Grand, Inc. in 1986. In December 1993, Kerkorian opened the 5,005-room MGM Grand on the Las Vegas Strip—at the time the largest hotel in the world—complete with a 33-acre outdoor theme park. In 2000, Kerkorian acquired Steve Wynn's Mirage Resorts for $6.4 billion (gaining Bellagio and The Mirage), and in 2005 bought Mandalay Resort Group for $7.9 billion, giving MGM dominant control over more than half of the Las Vegas Strip.
How did the Great Recession almost bankrupt CityCenter in 2008-2009?
In the mid-2000s, MGM broke ground on CityCenter, the most expensive privately financed commercial development in US history ($8.5 billion). When the 2008 global financial crisis hit, credit markets froze, tourism collapsed, and construction partner Dubai World sued MGM. MGM narrowly averted Chapter 11 bankruptcy in early 2009 through emergency debt restructuring and equity injections, opening the landmark Aria and Vdara resorts in December 2009.
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