0001193125-17-282987.txt : 20170913 0001193125-17-282987.hdr.sgml : 20170913 20170912192207 ACCESSION NUMBER: 0001193125-17-282987 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20170913 DATE AS OF CHANGE: 20170912 GROUP MEMBERS: ANTHONY L. MANDEKIC SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: MGM Resorts International CENTRAL INDEX KEY: 0000789570 STANDARD INDUSTRIAL CLASSIFICATION: HOTELS & MOTELS [7011] IRS NUMBER: 880215232 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-40054 FILM NUMBER: 171082029 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: TRACINDA CORP CENTRAL INDEX KEY: 0000319029 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] IRS NUMBER: 000000000 STATE OF INCORPORATION: NV FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 150 RODEO DRIVE SUITE 250 CITY: BEVERLY HILLS STATE: CA ZIP: 90212 BUSINESS PHONE: 7027378060 MAIL ADDRESS: STREET 1: 150 RODEO DRIVE SUITE 250 CITY: BEVERLY HILLS STATE: CA ZIP: 90212 SC 13D/A 1 d369176dsc13da.htm SC 13D/A SC 13D/A

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13D/A

Under Rule 13d-1 of the Securities Exchange Act of 1934

(Amendment No. 51)

 

 

MGM Resorts International

(Name of Issuer)

Common Stock, par value $.01 per share

(Title of Class of Securities)

552953 10 1

(CUSIP Number)

Anthony L. Mandekic

Tracinda Corporation

6725 Via Austi Parkway, Suite 370

Las Vegas, NV 89119

(702) 978-6161

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

September 11, 2017

(Date of Event which Requires Filing of this Statement)

 

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.  ☐

 

 

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.

 

 

 

* 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 disclosures provided in a prior cover page.

The information required on 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).

 

 

 


CUSIP No. 552953 10 1  

 

  1.   

Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only).

 

Tracinda Corporation

  2.  

Check the Appropriate Box if a Member of a Group (See Instructions)

(a)  ☐        (b)  ☐

 

  3.  

SEC Use Only

 

  4.  

Source of Funds (See Instructions)

 

N/A

  5.  

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

 

  6.  

Citizenship or Place of Organization

 

Nevada

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With

 

     7.    

Sole Voting Power

 

0 shares

     8.   

Shared Voting Power

 

47,173,744 shares

     9.   

Sole Dispositive Power

 

0 shares

   10.   

Shared Dispositive Power

 

47,173,744 shares

11.  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

47,173,744 shares

12.  

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

 

13.  

Percent of Class Represented by Amount in Row (11)

 

8.35%*

14.  

Type of Reporting Person (See Instructions)

 

CO

 

* Percentage calculated on the basis of 575,192,163 shares of common stock issued and outstanding as of August 3, 2017 (based upon information contained in the Company’s Quarterly Report Form 10-Q for the period ended June 30, 2017), reduced by the 10,000,000 shares of common stock being acquired by the Company.


CUSIP No. 552953 10 1  

 

  1.   

Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only).

 

Anthony L. Mandekic

  2.  

Check the Appropriate Box if a Member of a Group (See Instructions)

(a)  ☐        (b)  ☐

 

  3.  

SEC Use Only

 

  4.  

Source of Funds (See Instructions)

 

N/A

  5.  

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

 

  6.  

Citizenship or Place of Organization

 

United States

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With

 

     7.    

Sole Voting Power

 

51,540 shares

     8.   

Shared Voting Power

 

47,225,284 shares

     9.   

Sole Dispositive Power

 

51,540 shares

   10.   

Shared Dispositive Power

 

47,225,284 shares

11.  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

47,225,284 shares

12.  

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

 

13.  

Percent of Class Represented by Amount in Row (11)

 

8.36%*

14.  

Type of Reporting Person (See Instructions)

 

IN

 

* Percentage calculated on the basis of 575,192,163 shares of common stock issued and outstanding as of August 3, 2017 (based upon information contained in the Company’s Quarterly Report Form 10-Q for the period ended June 30, 2017), reduced by the 10,000,000 shares of common stock being acquired by the Company.


This Amendment No. 51 amends and supplements the Statement on Schedule 13D filed by Tracinda Corporation, a Nevada corporation (“Tracinda”), and Mr. Kirk Kerkorian, the sole shareholder of Tracinda, with the Securities and Exchange Commission (the “SEC”) on August 20, 1991, as amended on June 8, 1992, October 16, 1992, February 22, 1994, March 11, 1994, November 20, 1995, January 24, 1997, September 25, 1997, August 3, 1998, August 21, 1998, September 1, 1998, June 11, 1999, November 16, 1999, April 18, 2000, February 9, 2001, May 21, 2001, November 2, 2001, May 21, 2007, June 20, 2007, August 7, 2007, August 22, 2007, March 5, 2008, July 8, 2008, September 3, 2008, October 16, 2008, February 19, 2009, May 18, 2009, May 20, 2009, September 9, 2009, October 20, 2009, April 16, 2010, October 13, 2010, October 18, 2010 (two filings), October 21, 2010, November 12, 2010, January 28, 2011, April 20, 2011, August 18, 2011, February 28, 2012, April 4, 2012, March 14, 2013, September 18, 2013, June 16, 2015, June 14, 2016. August 17, 2016. September 1, 2016, February 13, 2017, February 17, 2017, February 22, 2017 and May 24, 2017, as amended by that certain Schedule TO-T filed by Tracinda and Mr. Kerkorian with the SEC on December 4, 2006, as amended (as so amended, the “Schedule 13D”), relating to the common stock, $.01 par value per share (“Common Stock”), of MGM Resorts International, a Delaware corporation (the “Company”). Capitalized terms used herein and not otherwise defined in this Amendment No. 51 shall have the meaning set forth in the Schedule 13D.

 

Item 4. Purpose of Transaction.

Item 4 of the Schedule 13D is hereby amended to add the following information:

On September 11, 2017, pursuant to a Letter Agreement, Tracinda agreed to sell 10,000,000 shares of the Common Stock to the Company at a price of $32.75 per share, which is a 1% discount from the closing price of the Common Stock on that date. The transaction is expected to be completed on September 12, 2017.

Tracinda continues to believe there is substantial value in the assets of MGM Resorts and that the Company is a good long term investment. The decision to sell the shares described above is a product of Tracinda’s ongoing evaluation of alternatives and opportunities for an orderly disposition of its position in the Common Stock, as directed in Mr. Kerkorian’s will.

 

Item 5. Interests in Securities of the Issuer.

Item 5 of the Schedule 13D is hereby amended to add the following information:

(a)-(b) The following table sets forth information with respect to the Company’s securities beneficially owned, as of the date hereof, by each person or entity named in Item 2 of the Schedule 13D. Mr. Mandekic has sole voting and investment power with respect to the shares held by the Filing Persons.

 

Reporting Persons

   Number of Share
Beneficially Owned
with Sole Power to
Vote or to Direct the
Vote or Sole Power
to Dispose or to
Direct the
Disposition
     Number of Share
Beneficially Owned
with Share Power to
Vote or to Direct the
Vote or Shared
Power to Dispose or
to Direct the
Disposition
     Aggregate Number
of Shares
Beneficially
Owned
     Percentage of Class
Beneficially
Owned (1)
 

Tracinda Corporation

     -0-        47,173,744        47,173,744        8.35

Anthony L. Mandekic

     51,540        47,225,284        47,225,284        8.36

 

(1) Percentage calculated on the basis of 575,192,163 shares of common stock issued and outstanding as of August 3, 2017 (based upon information contained in the Company’s Quarterly Report Form 10-Q for the period ended June 30, 2017), reduced by the 10,000,000 shares of common stock being acquired by the Company.


(c) On August 28, 2017, Mr. Mandekic sold 11,920 shares of the Common Stock (which had been acquired upon exercise of derivative securities) in an open market transaction at a price per share of $31.637. Except as set forth in this Schedule 13D, no reportable transactions were effected by any Reporting Person since the filing of Amendment No. 50 to the Schedule 13D.

(d) & (e) Not applicable.

 

Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.

Item 6 of the Schedule 13D is hereby amended to add the following information:

The disclosure set forth in Item 4 of this Amendment No. 51 is incorporated herein by this reference.

 

Item 7. Exhibits.

 

99.1     Letter Agreement, dated September 11, 2017, between MGM Resorts and Tracinda Corporation.


SIGNATURE

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

September 12, 2017

 

TRACINDA CORPORATION
By: Anthony L. Mandekic
CEO, President and Secretary/Treasurer
By:   /s/ Janet S. McCloud
Name:   Janet S. McCloud
Title:   Attorney-in-Fact*
ANTHONY L. MANDEKIC
By:   /s/ Janet S. McCloud
Name:   Janet S. McCloud
Title:   Attorney-in-Fact*

 

* Power of Attorney filed on June 14, 2016, as Exhibit 99.3 to Amendment No. 44 to the Schedule 13D.
EX-99.1 2 d369176dex991.htm EX-99.1 EX-99.1

Exhibit 99.1

MGM RESORTS INTERNATIONAL

LETTER AGREEMENT

September 11, 2017

This Letter Agreement by and between MGM Resorts International, a Delaware corporation (the “Company”), and Tracinda Corporation, a Nevada corporation (the “Seller”), confirms the Company’s agreement to purchase all of the Seller’s right, title and interest in and to 10,000,000 shares of the Company’s common stock, par value $0.01 (the “Shares”).

The Company hereby acknowledges its agreement to pay to the Seller a price per Share of $32.75, for an aggregate purchase price for the Shares of $327,500,000 (the “Purchase Price”), by wire transfer of immediately available funds to the bank account designated by the Seller in Schedule A hereto, on or before September 12, 2017 and in no event later than September 13, 2017 (the “Purchase Date”), against delivery by the Seller of security entitlements for the Shares.

The Seller hereby acknowledges its agreement to deliver to the Company on the Purchase Date security entitlements for the Shares to an account designated in writing by the Company, upon receipt of the Purchase Price from the Company.

This agreement may be executed in counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same agreement.

[Signature pages follow]


IN WITNESS WHEREOF, the parties hereto confirm their acknowledgement on the date first written above.

 

MGM RESORTS INTERNATIONAL
By       /s/ Daniel J. D’Arrigo
Name:   Daniel J. D’Arrigo
Title:   EVP & CFO

 

TRACINDA CORPORATION
By       /s/ Anthony Mandekic
Name:   Anthony Mandekic
Title:   CEO & Pres