Exhibit 99

MGM RESORTS INTERNATIONAL REPORTS FOURTH QUARTER
AND FULL YEAR RESULTS

Las Vegas, Nevada, February 14, 2011 — MGM Resorts International (NYSE: MGM) today announced a fourth quarter net loss of $139 million, or $0.29 per share, compared to a net loss of $434 million, or $0.98 per share in the prior year quarter. The current quarter results include a $32 million, or $0.07 per share, reduction in the Company’s income tax benefit as a result of providing reserves for certain state-level deferred tax assets. The prior year results include impairment charges totaling $548 million, or $0.73 per share, related to the Company’s undeveloped land holdings in Atlantic City.

Key results for the fourth quarter 2010 included the following:

	•		Net revenue was $1.5 billion;
	•		Adjusted Property EBITDA1 attributable to wholly-owned operations was $267 million;
	•		MGM Macau reported a record quarter with operating income of $119 million, including depreciation expense of $23 million;
	•		CityCenter reported Adjusted Property EBITDA related to its resort operations of $36 million; and
	•		The Company received approximately $192 million from MGM Macau, which represents a full repayment of the Company’s interest and non-interest bearing notes to the joint venture.

“2010 has been a transformational year for MGM Resorts International from a balance sheet and liquidity perspective. We have built the foundation needed to benefit from an economic recovery and are highly focused on initiatives such as M life, our new customer loyalty program, to improve our business,” said Jim Murren, MGM Resorts International Chairman and CEO. “We are encouraged in early 2011 by the level of business activity we are seeing. Our forward booking pace is currently ahead of last year led by stronger convention mix which we believe will position our Company to have a better year than last.”

The Company significantly improved its financial position by extending the maturity of its $3.5 billion credit facility to 2014 and raising an additional $3 billion of debt and equity capital during 2010. In addition, MGM Macau, which is 50% owned by the Company, entered into a new $950 million senior secured credit facility in August 2010 and CityCenter Holdings LLC, which is also 50% owned by the Company, recently extended the maturity of $500 million of its credit facility and raised $1.5 billion of senior secured first lien and second lien notes.

“We made significant improvements to our balance sheet during the year, raising capital and extending our debt maturities at MGM Resorts, MGM Macau and CityCenter, providing us with a strong liquidity profile,” said Dan D’Arrigo, MGM Resorts International Executive Vice President and CFO. “We remain focused on continuing to strengthen our balance sheet, growing our cash flows and positioning our resort portfolio for future growth.”

Discussion of Fourth Quarter Operating Results

The following table lists items which affect the comparability of the current and prior year quarterly results (approximate EPS impact shown, net of tax, per share; negative amounts represent charges to income):

Three months ended December 31,		2010				2009
Preopening and start-up expenses		$	—			$	(0.04	)
Atlantic City undeveloped land impairment charge			—				(0.73	)
Income (loss) from unconsolidated affiliates:
CityCenter residential inventory impairment charge			(0.02	)			—
CityCenter forfeited residential deposits income			0.01				—
Loss on retirement of long-term debt			(0.01	)			—
Tax adjustments			(0.07	)			—

Fourth quarter net revenue for 2010 was $1.5 billion. Excluding reimbursed costs revenue (approximately $87 million in 2010 and $57 million in 2009) mainly related to the Company’s management of CityCenter, net revenue decreased 1% from the fourth quarter of 2009.

Fourth quarter casino revenue decreased 3% compared to the prior year, with slots revenue increasing 2% and table games revenue down 11%. The Company’s table games volume decreased 13%. The overall table games hold percentage was slightly lower in 2010 than the prior year quarter and was near the low end of the Company’s normal range.

Rooms revenue decreased 5% from the prior year, excluding the impact of resort fees. Las Vegas Strip occupancy decreased from 86% to 84%, and ADR was $110, consistent with the prior year quarter; REVPAR² decreased 2%. If resort fees were included, rooms revenue and REVPAR would have been up 1% and 2%, respectively.

Operating income for the fourth quarter of 2010 was $107 million compared to a $487 million operating loss in the fourth quarter of 2009. The 2009 quarter included a $548 million impairment charge related to the Company’s Atlantic City land and $25 million related to the Company’s share of CityCenter’s preopening costs. Adjusted Property EBITDA attributable to wholly-owned operations was $267 million in the 2010 quarter, down 5% compared to $281 million in the 2009 quarter.

Income from Unconsolidated Affiliates

The Company had income from unconsolidated affiliates of $27 million in the fourth quarter of 2010 compared to $25 million in the prior year period. The current year includes an increase of $49 million in the Company’s share of operating income from MGM Macau, offset by a $37 million increase in the Company’s share of operating losses from CityCenter. The prior year fourth quarter included $8 million for the Company’s share of operating income from Borgata.

MGM Macau reported operating income of $119 million in the fourth quarter of 2010, which included depreciation expense of $23 million, compared to operating income of $22 million in the 2009 fourth quarter, which included depreciation expense of $24 million.

Results for CityCenter for the fourth quarter of 2010 include the following (see schedules accompanying this release for further detail on CityCenter Holdings, LLC’s fourth quarter and full year 2010 results):

	•		Net revenue was $257 million, including $26 million related to residential operations, of which $8 million was related to forfeited residential deposits;
	•		Aria’s net revenue was $198 million and Adjusted Property EBITDA was $30 million. Aria’s hold percentage was near the high end of its expected range;

	•		Aria’s occupancy percentage was 80% and its average daily rate was $190, resulting in REVPAR of $152, a 7% improvement compared to the third quarter;
	•		Crystals generated $6 million in Adjusted Property EBITDA and was approximately 80% occupied at December 31, 2010; and
	•		A $27 million impairment charge was incurred related to Veer residential inventory.

CityCenter completed the following financing transactions in January 2011:

	•		Issued $900 million of 7.625% senior secured first lien notes due 2016;
	•		Issued $600 million of 10.75% senior secured second lien PIK toggle notes due 2017 which give CityCenter the choice of paying interest in cash or in additional debt. The interest rate on these notes increases by 0.75% if CityCenter elects to pay interest in the form of additional debt;
	•		Amended and restated CityCenter’s previous credit facility which extended the maturity of $500 million of the credit facility to January 2015. Amounts in excess of $500 million were repaid using the proceeds of the first and second lien notes. The remaining $500 million credit facility is in the form of a term loan and is secured on a pari passu basis with the first lien notes and by a first priority lien on substantially all of CityCenter’s assets and those of its subsidiaries;
	•		Received total equity contributions of $73 million from the members; and
	•		Established a $159 million interest escrow account for the benefit of the lenders under the restated credit facility and the holders of the first lien notes.

Full Year 2010 Results
(Results are presented on a same store basis excluding TI)

Net revenue for 2010 was $6.0 billion. Net revenue excluding reimbursed costs revenue (which was approximately $359 million in 2010 and $99 million in 2009), was $5.7 billion, a decrease of 3% from 2009. Operating loss increased from $1.0 billion in 2009 to $1.2 billion in 2010. Adjusted Property EBITDA from wholly-owned operations was $1.2 billion for 2010 compared to $1.3 billion in 2009.

Loss per share for 2010 was $3.19 compared to a loss of $3.41 per share in 2009. The following table lists significant items that affect the comparability of the current year and prior year annual results (EPS impact shown, net of tax, per share; negative amounts represent charges to income):

Year ended December 31,		2010				2009
Monte Carlo business interruption (recorded as a reduction of general and administrative expenses)			—				0.03
Preopening and start-up expenses			(0.01	)			(0.09	)
Property transactions net:
Atlantic City Renaissance Pointe land holdings impairment							(0.85	)
Investment in Borgata impairment			(0.18	)			—
Gain on Sale of TI			—				0.31
Investment in CityCenter impairment			(1.88	)			(1.63	)
Other property transactions			(0.01	)			(0.02	)
Income (loss) from unconsolidated affiliates:
CityCenter joint venture residential impairment charge			(0.24	)			(0.35	)
CityCenter forfeited residential deposits income			0.08				—
Borgata joint venture insurance proceeds			—				0.02
North Las Vegas Strip joint venture impairment charge			—				(0.02	)
Other, net:
Convertible note impairment charge			—				(0.30	)
Gain (loss) on retirement of long-term debt			0.19				(0.11	)
Tax adjustments			(0.07	)			—

Financial Position

At December 31, 2010, the Company had approximately $12.3 billion of indebtedness (with a carrying value of $12.0 billion), including $2.3 billion of borrowings outstanding under its senior credit facility, with available borrowing capacity under the senior credit facility of approximately $1.2 billion.

     During 2010, the Company completed the following capital market transactions:

	•		In March, issued $845 million of 9% senior secured notes due 2020 for net proceeds of $826 million;
	•		In April, issued $1.15 billion of 4.25% convertible senior notes due 2015 for net proceeds of $1.12 billion;
	•		In October, issued 40.9 million shares of common stock for net proceeds of approximately $512 million and in November received an additional $77 million of net proceeds from the exercise of the underwriter’s overallotment option for an additional 6.1 million shares;
	•		In October, issued $500 million of 10% senior notes due 2016, issued at a discount to yield 10.25%, for net proceeds of approximately $486 million; and
	•		The Company used a portion of the net proceeds from the October equity offering and all of the proceeds of the October debt offering to retire $1.2 billion in commitments under its senior credit facility that were scheduled to mature in October 2011 and effect the extension of approximately $3.5 billion of its senior credit facility to February 2014.

The Company received approximately $192 million from MGM Macau during the fourth quarter of 2010, which represents a full repayment of its interest and non-interest bearing notes to the joint venture.

The Company’s New Jersey trust account received proceeds of approximately $74 million in the fourth quarter, including $71 million related to the sale of long-term land leases and associated real property parcels underlying Borgata. The balance in the trust account was approximately $188 million at December 31, 2010.

Conference Call Details

MGM Resorts International will hold a conference call to discuss its fourth quarter and full year results at 11:00 a.m. Eastern Time today. The call will be accessible via the Internet through www.mgmresorts.com under the Investors section or by calling 1-877-274-9221 for Domestic callers and 1-706-634-6528 for International callers. The conference call access code is 38464126. A replay of the call will be available through Sunday, February 20, 2011. The replay may be accessed by dialing 1-800-642-1687 or 1-706-645-9291. The replay access code is 38464126. The call will also be archived at www.mgmresorts.com.

1     “Adjusted EBITDA” is earnings before interest and other non-operating income (expense), taxes, depreciation and amortization, preopening and start-up expenses, and property transactions, net. “Adjusted Property EBITDA” is Adjusted EBITDA before corporate expense and stock compensation expense. Adjusted EBITDA information is presented solely as a supplemental disclosure to reported GAAP measures because management believes these measures are 1) widely used measures of operating performance in the gaming industry, and 2) a principal basis for valuation of gaming companies.

Management believes that while items excluded from Adjusted EBITDA and Adjusted Property EBITDA may be recurring in nature and should not be disregarded in evaluation of the Company’s earnings performance, it is useful to exclude such items when analyzing current results and trends compared to other periods because these items can vary significantly depending on specific underlying transactions or events that may not be comparable between the periods being presented. Also, management believes excluded items may not relate specifically to current operating trends or be indicative of future results. For example, pre-opening and start-up expenses will be significantly different in periods when the Company is

2     REVPAR is hotel Revenue per Available Room.

developing and constructing a major expansion project and will depend on where the current period lies within the development cycle, as well as the size and scope of the project(s). Property transactions, net includes normal recurring disposals, gains and losses on sales of assets related to specific assets within the Company’s resorts, but also includes gains or losses on sales of an entire operating resort or a group of resorts and impairment charges on entire asset groups or investments in unconsolidated affiliates, which may not be comparable period over period.

In addition, capital allocation, tax planning, financing and stock compensation awards are all managed at the corporate level. Therefore, management uses Adjusted Property EBITDA as the primary measure of the Company’s operating resorts’ performance.

* * *

MGM Resorts International (NYSE: MGM) is one of the world’s leading global hospitality companies, operating a peerless portfolio of destination resort brands, including Bellagio, MGM Grand, Mandalay Bay and The Mirage. The Company has significant holdings in gaming, hospitality and entertainment, owns and operates 15 properties located in Nevada, Mississippi and Michigan, and has 50% investments in four other properties in Nevada, Illinois and Macau. One of those investments is CityCenter, an unprecedented urban resort destination on the Las Vegas Strip featuring its centerpiece ARIA Resort & Casino. Leveraging MGM Resorts’ unmatched amenities, the M life loyalty program delivers one-of-a-kind experiences, insider privileges and personalized rewards for guests at the Company’s renowned properties nationwide. Through its hospitality management subsidiary, the Company holds a growing number of development and management agreements for casino and non-casino resort projects around the world. MGM Resorts International supports responsible gaming and has implemented the American Gaming Association’s Code of Conduct for Responsible Gaming at its gaming properties. The Company has been honored with numerous awards and recognitions for its industry-leading Diversity Initiative, its community philanthropy programs and the Company’s commitment to sustainable development and operations. For more information about MGM Resorts International, visit the Company’s Web site at www.mgmresorts.com.

Statements in this release which are not historical facts are “forward-looking” statements and “safe harbor statements” within the meaning of Section 21E of the U.S. the Securities Exchange Act of 1934, as amended, and other related laws that involve risks and/or uncertainties, including risks and/or uncertainties as described in the company’s public filings with the Securities and Exchange Commission. We have based those forward-looking statements on management’s current expectations and assumptions and not on historical facts. Examples of these statements include, but are not limited to statements regarding future operating results and liquidity to pay future indebtedness. These forward-looking statements involve a number of risks and uncertainties. Among the important factors that could cause actual results to differ materially from those indicated in such forward-looking statements include effects of economic conditions and market conditions in the markets in which we operate and competition with other destination travel locations throughout the United States and the world. In providing forward-looking statements, the Company is not undertaking any duty or obligation to update these statements publicly as a result of new information, future events or otherwise except as required by law.

Contacts:
Investment Community		News Media
DANIEL J. D’ARRIGO		ALAN M. FELDMAN
Executive Vice President,		Senior Vice President
Chief Financial Officer		Public Affairs
(702) 693-8895		(702) 650-6947

MGM RESORTS INTERNATIONAL AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
(Unaudited)

		Three Months Ended								Twelve Months Ended
		December 31,				December 31,				December 31,				December 31,
		2010				2009				2010				2009
Revenues:
Casino		$	608,795			$	627,957			$	2,442,927			$	2,618,060
Rooms			309,741				324,631				1,300,287				1,370,135
Food and beverage			319,621				321,785				1,339,174				1,362,325
Entertainment			121,795				123,801				486,319				493,799
Retail			47,322				50,475				194,891				207,260
Other			126,479				116,556				529,693				493,324
Reimbursed costs			87,235				56,899				359,470				99,379
			1,620,988				1,622,104				6,652,761				6,644,282
Less: Promotional allowances			(154,547	)			(169,688	)			(633,528	)			(665,693	)
			1,466,441				1,452,416				6,019,233				5,978,589
Expenses:
Casino			346,645				366,876				1,385,763				1,459,944
Rooms			102,607				101,922				423,073				427,169
Food and beverage			189,320				184,881				774,443				775,018
Entertainment			87,997				90,240				360,383				358,026
Retail			29,922				35,091				120,593				134,851
Other			83,519				66,837				333,817				284,919
Reimbursed costs			87,235				56,899				359,470				99,379
General and administrative			277,889				274,570				1,128,803				1,100,193
Corporate expense			36,698				44,469				124,241				143,764
Preopening and start-up expenses			186				25,474				4,247				53,013
Property transactions, net			(2,178	)			549,358				1,451,474				1,328,689
Depreciation and amortization			146,666				167,396				633,423				689,273
			1,386,506				1,964,013				7,099,730				6,854,238
Income (loss) from unconsolidated affiliates			27,275				24,942				(78,434	)			(88,227	)
Operating income (loss)			107,210				(486,655	)			(1,158,931	)			(963,876	)
Non-operating income (expense):
Interest expense, net			(273,097	)			(220,609	)			(1,113,580	)			(775,431	)
Non-operating items from unconsolidated affiliates			(26,622	)			(9,069	)			(108,731	)			(47,127	)
Other, net			7,475				(3,001	)			165,217				(226,159	)
			(292,244	)			(232,679	)			(1,057,094	)			(1,048,717	)
Loss before income taxes			(185,034	)			(719,334	)			(2,216,025	)			(2,012,593	)
Benefit for income taxes			45,845				285,416				778,628				720,911
Net loss		$	(139,189	)		$	(433,918	)		$	(1,437,397	)		$	(1,291,682	)
Per share of common stock:
Basic:
Net loss per share		$	(0.29	)		$	(0.98	)		$	(3.19	)		$	(3.41	)
Weighted average shares outstanding			477,630				441,238				450,449				378,513
Diluted:
Net loss per share		$	(0.29	)		$	(0.98	)		$	(3.19	)		$	(3.41	)
Weighted average shares outstanding			477,630				441,238				450,449				378,513

MGM RESORTS INTERNATIONAL AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(In thousands, except share data)
(Unaudited)

		December 31,				December 31,
		2010				2009
ASSETS
Current assets:
Cash and cash equivalents		$	498,964			$	2,056,207
Accounts receivable, net			321,894				368,474
Inventories			96,392				101,809
Income tax receivable			175,982				384,555
Deferred income taxes			45,313				38,487
Prepaid expenses and other			252,321				103,969
Total current assets			1,390,866				3,053,501
Property and equipment, net			14,554,350				15,069,952
Other assets:
Investments in and advances to unconsolidated affiliates			1,923,155				3,611,799
Goodwill			86,353				86,353
Other intangible assets, net			342,804				344,253
Other long-term assets, net			598,738				352,352
Total other assets			2,951,050				4,394,757
		$	18,896,266			$	22,518,210
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable		$	167,084			$	173,719
Current portion of long-term debt			—				1,079,824
Accrued interest on long-term debt			211,914				206,357
Other accrued liabilities			867,223				923,701
Total current liabilities			1,246,221				2,383,601
Deferred income taxes			2,404,554				3,031,303
Long-term debt			12,047,698				12,976,037
Other long-term obligations			199,248				256,837
Stockholders’ equity:
Common stock, $.01 par value: authorized 600,000,000 shares, issued 488,513,351 and 441,222,251 shares and outstanding 488,513,351 and 441,222,251 shares			4,885				4,412
Capital in excess of par value			4,060,826				3,497,425
Retained earnings (accumulated deficit)			(1,066,865	)			370,532
Accumulated other comprehensive loss			(301	)			(1,937	)
Total stockholders’ equity			2,998,545				3,870,432
		$	18,896,266			$	22,518,210

MGM RESORTS INTERNATIONAL AND SUBSIDIARIES
SUPPLEMENTAL DATA — NET REVENUES
(In thousands)
(Unaudited)

		Three Months Ended								Twelve Months Ended
		December 31,				December 31,				December 31,				December 31,
		2010				2009				2010				2009
Bellagio		$	268,814			$	269,712			$	1,035,787			$	1,064,729
MGM Grand Las Vegas			218,171				239,153				926,232				976,261
Mandalay Bay			173,313				171,418				718,778				725,129
The Mirage			134,192				140,780				557,531				624,132
Luxor			76,876				81,684				315,701				344,722
Treasure Island (1)			—				—				—				66,329
New York-New York			59,523				58,446				245,510				250,055
Excalibur			59,082				61,132				249,606				265,076
Monte Carlo			56,708				53,154				224,293				206,377
Circus Circus Las Vegas			41,764				44,617				183,452				200,385
MGM Grand Detroit			132,977				124,751				537,870				514,116
Beau Rivage			75,806				78,003				328,721				329,613
Gold Strike Tunica			36,199				35,051				151,078				153,108
Management operations			98,597				66,301				406,417				135,498
Other operations			34,419				28,214				138,257				123,059
		$	1,466,441			$	1,452,416			$	6,019,233			$	5,978,589

MGM RESORTS INTERNATIONAL AND SUBSIDIARIES
SUPPLEMENTAL DATA — ADJUSTED PROPERTY EBITDA
(In thousands)
(Unaudited)

		Three Months Ended								Twelve Months Ended
		December 31,				December 31,				December 31,				December 31,
		2010				2009				2010				2009
Bellagio		$	75,491			$	68,336			$	270,628			$	274,672
MGM Grand Las Vegas			32,489				46,329				163,093				214,369
Mandalay Bay			28,208				31,805				124,385				159,864
The Mirage			21,482				24,507				102,106				141,118
Luxor			16,741				16,370				61,196				76,167
Treasure Island (1)			—				—				—				12,729
New York-New York			16,693				16,968				76,254				78,555
Excalibur			14,078				14,990				63,236				72,130
Monte Carlo			9,517				4,422				33,555				36,594
Circus Circus Las Vegas			2,255				2,261				15,605				27,122
MGM Grand Detroit			36,737				31,112				155,173				138,010
Beau Rivage			10,247				12,517				61,287				65,422
Gold Strike Tunica			8,263				8,086				39,853				45,051
Management operations			(4,548	)			5,064				(13,668	)			18,322
Other operations			(907	)			(1,653	)			1,125				1,759
Wholly-owned operations			266,746				281,114				1,153,828				1,361,884
CityCenter (50%) (2)			(38,416	)			(1,430	)			(250,482	)			(208,634	)
Macau (50%) (2)			58,410				9,749				129,575				24,615
Other unconsolidated resorts (2)			7,280				17,192				42,764				96,947
		$	294,020			$	306,625			$	1,075,685			$	1,274,812

MGM RESORTS INTERNATIONAL AND SUBSIDIARIES
RECONCILIATION OF OPERATING INCOME (LOSS) TO ADJUSTED PROPERTY EBITDA AND ADJUSTED EBITDA
(In thousands)
(Unaudited)

		Three Months Ended December 31, 2010
		Operating income				Preopening and				Property				Depreciation and
		(loss)				start-up expenses				transactions, net				amortization				Adjusted EBITDA
Bellagio		$	51,484			$	—			$	108			$	23,899			$	75,491
MGM Grand Las Vegas			12,225				—				172				20,092				32,489
Mandalay Bay			6,101				—				52				22,055				28,208
The Mirage			6,654				—				(518	)			15,346				21,482
Luxor			6,585				—				256				9,900				16,741
New York-New York			10,108				—				22				6,563				16,693
Excalibur			8,431				—				19				5,628				14,078
Monte Carlo			3,092				185				158				6,082				9,517
Circus Circus Las Vegas			(2,837	)			—				1				5,091				2,255
MGM Grand Detroit			26,649				—				157				9,931				36,737
Beau Rivage			7,796				—				(2	)			2,453				10,247
Gold Strike Tunica			4,779				—				11				3,473				8,263
Management operations			(7,976	)			—				—				3,428				(4,548	)
Other operations			(2,500	)			1				16				1,576				(907	)
Wholly-owned operations			130,591				186				452				135,517				266,746
CityCenter (50%)			(38,416	)			—				—				—				(38,416	)
Macau (50%)			58,410				—				—				—				58,410
Other unconsolidated resorts			7,280				—				—				—				7,280
			157,865				186				452				135,517				294,020
Stock compensation			(8,832	)			—				—				—				(8,832	)
Corporate			(41,823	)			—				(2,630	)			11,149				(33,304	)
		$	107,210			$	186			$	(2,178	)		$	146,666			$	251,884

		Three Months Ended December 31, 2009
		Operating income				Preopening and				Property				Depreciation and
		(loss)				start-up expenses				transactions, net				amortization				Adjusted EBITDA
Bellagio		$	41,154			$	—			$	(34	)		$	27,216			$	68,336
MGM Grand Las Vegas			24,356				—				(51	)			22,024				46,329
Mandalay Bay			8,887				51				(3	)			22,870				31,805
The Mirage			8,598				—				—				15,909				24,507
Luxor			7,227				—				(78	)			9,221				16,370
New York-New York			9,896				—				—				7,072				16,968
Excalibur			8,430				—				(4	)			6,564				14,990
Monte Carlo			(2,082	)			—				(3	)			6,507				4,422
Circus Circus Las Vegas			(3,398	)			—				26				5,633				2,261
MGM Grand Detroit			19,525				—				1,430				10,157				31,112
Beau Rivage			95				—				—				12,422				12,517
Gold Strike Tunica			4,374				—				(209	)			3,921				8,086
Management operations			2,586				—				—				2,478				5,064
Other operations			(3,041	)			—				(63	)			1,451				(1,653	)
Wholly-owned operations			126,607				51				1,011				153,445				281,114
CityCenter (50%)			(26,853	)			25,423				—				—				(1,430	)
Macau (50%)			9,749				—				—				—				9,749
Other unconsolidated resorts			17,192				—				—				—				17,192
			126,695				25,474				1,011				153,445				306,625
Stock compensation			(9,495	)			—				—				—				(9,495	)
Corporate			(603,855	)			—				548,347				13,951				(41,557	)
		$	(486,655	)		$	25,474			$	549,358			$	167,396			$	255,573

MGM RESORTS INTERNATIONAL AND SUBSIDIARIES
RECONCILIATION OF OPERATING INCOME (LOSS) TO ADJUSTED PROPERTY EBITDA AND ADJUSTED EBITDA
(In thousands)
(Unaudited)

		Twelve Months Ended December 31, 2010
		Operating income				Preopening and				Property				Depreciation and
		(loss)				start-up expenses				transactions, net				amortization				Adjusted EBITDA
Bellagio		$	174,355			$	—			$	(17	)		$	96,290			$	270,628
MGM Grand Las Vegas			84,359				—				127				78,607				163,093
Mandalay Bay			29,859				—				2,892				91,634				124,385
The Mirage			36,189				—				(207	)			66,124				102,106
Luxor			18,822				—				257				42,117				61,196
New York-New York			41,845				—				6,880				27,529				76,254
Excalibur			39,534				—				803				22,899				63,236
Monte Carlo			5,020				185				3,923				24,427				33,555
Circus Circus Las Vegas			(5,366	)			—				230				20,741				15,605
MGM Grand Detroit			115,040				—				(327	)			40,460				155,173
Beau Rivage			21,564				—				349				39,374				61,287
Gold Strike Tunica			26,115				—				(540	)			14,278				39,853
Management operations			(27,429	)			—				—				13,761				(13,668	)
Other operations			(6,046	)			568				20				6,583				1,125
Wholly-owned operations			553,861				753				14,390				584,824				1,153,828
CityCenter (50%)			(253,976	)			3,494				—				—				(250,482	)
Macau (50%)			129,575				—				—				—				129,575
Other unconsolidated resorts			42,764				—				—				—				42,764
			472,224				4,247				14,390				584,824				1,075,685
Stock compensation			(34,988	)			—				—				—				(34,988	)
Corporate			(1,596,167	)			—				1,437,084				48,599				(110,484	)
		$	(1,158,931	)		$	4,247			$	1,451,474			$	633,423			$	930,213

		Twelve Months Ended December 31, 2009
		Operating income				Preopening and				Property				Depreciation and
		(loss)				start-up expenses				transactions, net				amortization				Adjusted EBITDA
Bellagio		$	157,079			$	—			$	2,326			$	115,267			$	274,672
MGM Grand Las Vegas			123,378				—				30				90,961				214,369
Mandalay Bay			65,841				948				(73	)			93,148				159,864
The Mirage			74,756				—				313				66,049				141,118
Luxor			37,527				(759	)			181				39,218				76,167
Treasure Island (1)			12,730				—				(1	)			—				12,729
New York-New York			45,445				—				1,631				31,479				78,555
Excalibur			47,973				—				(16	)			24,173				72,130
Monte Carlo			16,439				—				(4,740	)			24,895				36,594
Circus Circus Las Vegas			4,015				—				(9	)			23,116				27,122
MGM Grand Detroit			90,183				—				7,336				40,491				138,010
Beau Rivage			16,234				—				157				49,031				65,422
Gold Strike Tunica			29,010				—				(209	)			16,250				45,051
Management operations			7,285				—				2,473				8,564				18,322
Other operations			(4,172	)			—				(57	)			5,988				1,759
Wholly-owned operations			723,723				189				9,342				628,630				1,361,884
CityCenter (50%)			(260,643	)			52,009				—				—				(208,634	)
Macau (50%)			24,615				—				—				—				24,615
Other unconsolidated resorts			96,132				815				—				—				96,947
			583,827				53,013				9,342				628,630				1,274,812
Stock compensation			(36,571	)			—				—				—				(36,571	)
Corporate			(1,511,132	)			—				1,319,347				60,643				(131,142	)
		$	(963,876	)		$	53,013			$	1,328,689			$	689,273			$	1,107,099

MGM RESORTS INTERNATIONAL AND SUBSIDIARIES
RECONCILIATION OF ADJUSTED EBITDA TO NET LOSS
(In thousands)
(Unaudited)

		Three Months Ended								Twelve Months Ended
		December 31,				December 31,				December 31,				December 31,
		2010				2009				2010				2009
Adjusted EBITDA		$	251,884			$	255,573			$	930,213			$	1,107,099
Preopening and start-up expenses			(186	)			(25,474	)			(4,247	)			(53,013	)
Property transactions, net			2,178				(549,358	)			(1,451,474	)			(1,328,689	)
Depreciation and amortization			(146,666	)			(167,396	)			(633,423	)			(689,273	)
Operating income (loss)			107,210				(486,655	)			(1,158,931	)			(963,876	)
Non-operating income (expense):
Interest expense, net			(273,097	)			(220,609	)			(1,113,580	)			(775,431	)
Other			(19,147	)			(12,070	)			56,486				(273,286	)
			(292,244	)			(232,679	)			(1,057,094	)			(1,048,717	)
Loss before income taxes			(185,034	)			(719,334	)			(2,216,025	)			(2,012,593	)
Benefit for income taxes			45,845				285,416				778,628				720,911
Net loss		$	(139,189	)		$	(433,918	)		$	(1,437,397	)		$	(1,291,682	)

MGM RESORTS INTERNATIONAL AND SUBSIDIARIES
SUPPLEMENTAL DATA — HOTEL STATISTICS — LAS VEGAS STRIP
(Unaudited)

		Three Months Ended								Twelve Months Ended
		December 31,				December 31,				December 31,				December 31,
		2010				2009				2010				2009
Bellagio
Occupancy %			89.8	%			91.9	%			92.5	%			94.2	%
Average daily rate (ADR)		$	209			$	205			$	203			$	203
Revenue per available room (REVPAR)		$	187			$	188			$	187			$	192
MGM Grand Las Vegas
Occupancy %			87.0	%			89.8	%			92.3	%			94.2	%
ADR		$	110			$	112			$	113			$	113
REVPAR		$	96			$	100			$	104			$	106
Mandalay Bay
Occupancy %			83.7	%			85.5	%			88.0	%			89.1	%
ADR		$	152			$	152			$	155			$	159
REVPAR		$	127			$	130			$	137			$	141
The Mirage
Occupancy %			90.0	%			89.5	%			92.4	%			93.6	%
ADR		$	127			$	124			$	123			$	126
REVPAR		$	115			$	111			$	113			$	118
Luxor
Occupancy %			82.2	%			84.3	%			87.8	%			89.8	%
ADR		$	76			$	77			$	75			$	79
REVPAR		$	62			$	65			$	66			$	71
New York-New York
Occupancy %			89.5	%			90.8	%			91.5	%			93.2	%
ADR		$	88			$	97			$	90			$	96
REVPAR		$	79			$	88			$	82			$	90
Excalibur
Occupancy %			81.6	%			81.2	%			87.6	%			87.4	%
ADR		$	58			$	61			$	57			$	61
REVPAR		$	47			$	50			$	50			$	54
Monte Carlo
Occupancy %			88.6	%			83.5	%			90.7	%			90.0	%
ADR		$	78			$	86			$	77			$	84
REVPAR		$	69			$	72			$	70			$	76
Circus Circus Las Vegas
Occupancy %			65.3	%			76.3	%			75.4	%			83.2	%
ADR		$	44			$	42			$	42			$	44
REVPAR		$	29			$	32			$	32			$	36