Our Vision For A Japan Integrated

Bill Hornbuckle President

Mizuho Investment Conference September 2014 1. Who is MGM? 2. What is an Integrated Resort (IR)? 3. What are the benefits an IR can bring to Japan? 4. What is MGM’s vision for a Japan Integrated Resort (JR) Who is MGM?

Fortune 500 company with iconic brands known worldwide 18 destination in 5 jurisdictions worldwide $10 billion in global revenue 62,000 employees worldwide Diverse revenue mix across multiple business lines Growing presence in – the world’s largest gaming market Luxury Properties

Aria MGM Grand The Mansion

Mandalay Bay MGM Macau Mass and Regional Properties

Monte Carlo NY - NY Luxor Excalibur

MGM Detroit Beau Rivage Gold Strike Circus Circus MGM Properties Snapshot

Resorts 18

Hotel Rooms 42,000

Total Area (Hectares, Las Vegas Strip) 300

Food & Beverage Outlets 350

Employees 62,000

MICE Space (m2) 300,000 Net Revenues MGM Resorts International MGM China $12,000 (USD Millions)

$10,188 $10,000 $9,810 $9,161

$3,504 $7,849 $3,317 $8,000 $2,808 $1,535 $6,000

$4,000 $6,314 $6,353 $6,493 $6,684

$2,000

$- 2011 2012 2013 2Q 14 LTM EBITDA MGM Resorts International MGM China (USD Millions) $2,481 $2,500 $2,326

$2,000 $1,968 $880 $814 $1,749 $679 $1,500 $475

$1,000

$1,512 $1,601 $1,274 $1,289 $500

$- 2011 2012 2013 2Q 14 LTM Growing Presence In Macau

Growing Presence In Macau What Is An Integrated Resort?

Large-scale mixed-use destination resort Spectacular entertainment and “WOW” attractions Significant MICE component Ability to attract the widest distribution of customers and drive international tourism Gaming space limited Non-gaming activities account for 70% of revenues in some markets Dramatic architecture Minimum ¥500 billion investment Permanently employs approximately 10,000 people Entertainment MICE Food & Beverage Amenities & Attractions CITYCENTER A New Paradigm In Resort Design CITYCENTER A New Paradigm In Resort Design

Largest private investment in U.S. history

One of the largest private job creators

Largest privately funded “ECO” project in North America: Received six LEED Gold Certifications from the U.S. Green Building Council

Features the work of several great architects: KPF, Cesar Pelli, Rafael Vinoly, Helmut Jahn, Daniel Libeskind

CITYCENTER A New Paradigm In Resort Design

Hotel rooms 5,826 Condo units 901

Total Gross Floor 1.8 33 Area (m2) million

Gaming Floor Area Retail Outlets 58 14,000 (m2)

Conference 30,000 Employees 10,000 Space (m2)

BELLAGIO A Resort Incorporating “WOW” Attractions What Are The Benefits IRs Can Bring To Japan?

Increase inbound and domestic tourism Deliver on key macro and micro government policy objectives Generate significant tax revenues Develop strong regulatory oversight and controls Las Vegas Strip Revenue Mix

2013 1979

Gaming 37% Non-Gaming 41% Gaming Non-Gaming 59% 63%

Source: LVCVA MGM Las Vegas Strip Revenue Mix 2013 Entertainment 10% Retail & Other 10%

Food & Beverage 22% 31%

Hotel 27%

Non-Gaming 69% Gaming 31% Increase Inbound Tourism

Las Vegas Visitation Statistics, 2013

Domestic International 80% 20%

Source: LVCVA Increase Inbound Tourism

Estimated incremental international visitation growth (millions)

Japan international visitation goals (millions)

50

40 10

30 5 30

25 20 20

10

0 2020 2025 2030 Deliver On Key Macro And Micro Government Policy Objectives

Export Japanese culture - “Cool Japan” Infrastructure investment Expand non-manufacturing sectors of the economy Spur development in areas surrounding the IR Develop / enhanced MICE business Attract world-class entertainers “Womenomics” Generate Significant Tax Revenues

Incremental tax revenue from an IR can benefit many areas including:

Regional economic revitalization Infrastructure improvements Public safety Education Problem gambling Develop Strong Regulatory Oversight And Controls

Establish regulatory framework that reflects best practices Ensure economic benefits generated are directed in a purposeful and socially acceptable manner Include responsible gaming legislation based on reliable scientific research What Is MGM’s Vision For A Japan Integrated Resort?

Landmark destination attraction Uniquely Japanese, not a copy of an IR from Las Vegas or Consortium of leading Japanese companies Integrated with surrounding regions, tourist attractions, businesses, and citizens Focus on sustainability, ECO, setsuden MGM Osaka MGM Osaka MGM Osaka Safe Harbor Provision Cautionary Statement Concerning Forward-Looking Statements: Statements In This Presentation That Are Not Historical Facts Are Forward-looking Statements, Within The Meaning Of The Private Securities Litigation Reform Act Of 1995 And Involve Risks And/or Uncertainties, Including Those Described In The Company’s Public Filings With The Securities And Exchange Commission. The Company Has Based 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 Our Development Projects. 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 The Company Operates And Competition With Other Destination Travel Locations Throughout The United States And The World, The Design, Timing And Costs Of Expansion Projects, Risks Relating To International Operations, Permits, Licenses, Financings, Approvals And Other Contingencies In Connection With Growth In New Or Existing Jurisdictions And Additional Risks And Uncertainties Described In The Company’s Form 10- K, Form 10-Q And Form 8-K Reports (including All Amendments To Those Reports). 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. If The Company Updates One Or More Forward-looking Statements, No Inference Should Be Drawn That It Will Make Additional Updates With Respect To Those Other Forward-looking Statements. Non-GAAP Financial Measures: The Financial Information Included In This Presentation Includes Non-GAAP Financial Measures. The Company’s Management Uses Non-GAAP Financial Measures To Evaluate The Company’s Performance And Provides Them To Investors As A Supplement To The Company’s Reported Results, As They Believe This Information Provides Additional Insight Into The Company’s Operating Performance By Disregarding Certain Non-recurring Items. Reconciliations Can Be Found In The Financial Schedules Accompanying The Company’s Earnings Releases.