STOCK-BASED COMPENSATION

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION

MGM Resorts International 2022 Omnibus Incentive Plan. On May 4, 2022, the MGM Resorts 2022 Omnibus Incentive Plan (“2022 Omnibus Plan”) was approved and replaced and superseded the amended and restated MGM Resorts 2005 Omnibus Incentive Plan. The Company’s 2022 Omnibus Plan allows it to grant up to approximately 18 million shares or stock-based awards, such as stock options, stock appreciation rights (“SARs”), restricted stock units (“RSUs”),

performance share units (“PSUs”) and other stock-based awards to eligible directors, officers, employees, and consultants of the Company and its subsidiaries.

As of December 31, 2024, the Company had an aggregate of approximately 14 million shares of common stock available for grant as stock-based awards under the 2022 Omnibus Plan. Additionally, as of December 31, 2024, the Company had approximately 6 million aggregate RSUs and PSUs outstanding, including deferred share units and dividend equivalent units related to RSUs and PSUs.

MGM Growth Properties 2016 Omnibus Incentive Plan; MGM China Share Option Plan and Restricted Stock Unit Plan. The Company’s subsidiaries, MGP and MGM China, each adopted their own equity award plans for the issuance of stock-based awards to each subsidiary’s eligible recipients. Vesting of MGP’s outstanding awards was accelerated as a result of the change of control of MGP related to the VICI Transaction in 2022.

Stock-based compensation expense. Stock-based compensation expense was recognized as follows:

	Year Ended December 31,
	2024		2023		2022
Stock-based compensation expense:	(In thousands)
Omnibus Plan	$	73,074	$	67,375	$	60,264
MGM Growth Properties Omnibus Incentive Plan	—		—		5,112
MGM China share-based compensation plans	7,150		6,232		5,920
Total stock-based compensation expense	80,224		73,607		71,296
Less: Reimbursed costs	(67)		(21)		—
	80,157		73,586		71,296
Less: Related tax benefit	(17,266)		(15,975)		(14,458)
Stock-based compensation expense, net of tax benefit	$	62,891	$	57,611	$	56,838