MGM RESORTS INTERNATIONAL ANALYST & INVESTOR DAY PRESENTATION

June 16, 2016

Legal Disclaimers 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, the Company’s expectations regarding future financial results (including all guidance in this presentation), its ability to generate future cash flow growth and to execute on future development and other projects, such as the Profit Growth Plan, the expected results of the Profit Growth Plan, the realization of any benefits from the MGP transactions and the Company’s ability to execute its strategic plan and improve its financial flexibility. These forward-looking statements involve a number of risks and uncertainties.

Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, regional, national or global political, economic, business, competitive, market, and regulatory conditions and the following:

• our substantial indebtedness and significant financial commitments, including our fixed annual lease payment to MGP, could adversely affect our development options and financial results and impact our ability to satisfy our obligations;

• current and future economic, capital and credit market conditions could adversely affect our ability to service or refinance our indebtedness and to make planned expenditures and investments as well as strategic initiatives; • restrictions and limitations in the agreements governing our senior credit facility and other senior indebtedness could significantly affect our ability to operate our business, as well as significantly affect our liquidity; • the fact that we are required to pay a significant portion of our cash flows as fixed and percentage rent under the master lease, which could adversely affect our ability to fund our operations and growth, service our indebtedness and

limit our ability to react to competitive and economic changes; • a significant number of our domestic gaming facilities are leased and could experience risks associated with leased property, including risks relating to lease termination, lease extensions, charges and our relationship with the lessor,

which could have a material adverse effect on our business, financial position or results of operations; • financial, operational, regulatory or other potential challenges that may arise with respect to MGP, as our sole lessor for a significant portion of our business, may adversely impair our operations; • James J. Murren, our Chairman, and Daniel J. Taylor, one of our directors, and William J. Hornbuckle, Elisa C. Gois, and John M. McManus, our executive officers, may have actual or potential conflicts of interest because of their

positions at MGP; • the fact that MGP has adopted a policy under which certain transactions with us, including transactions involving consideration in excess of $25 million, must be approved by a conflict committee comprised of independent directors of

MGP; • significant competition we face with respect to destination travel locations generally and with respect to our peers in the industries in which we compete; • the fact that our businesses are subject to extensive regulation and the cost of compliance or failure to comply with such regulations could adversely affect our business; • the impact on our business of economic and market conditions in the markets in which we operate and in the locations in which our customers reside; • restrictions on our ability to have any interest or involvement in gaming business in China, Macau, Hong Kong and Taiwan, other than through MGM China; • the ability of the Macau government to terminate MGM Grand Paradise’s gaming subconcession under certain circumstances without compensating MGM Grand Paradise or refuse to grant MGM Grand Paradise an extension of the

subconcession, which is scheduled to expire on March 31, 2020; • our ability to build and open our development in Cotai by January 2018; • the dependence of MGM Macau upon gaming promoters for a significant portion of gaming revenues in Macau; • our ability to recognize our foreign tax credit deferred asset and the variability of the valuation allowance we may apply against such deferred tax asset; • extreme weather conditions or climate change may cause property damage or interrupt business;

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Legal Disclaimers • the concentration of a majority of our major gaming resorts on the Las Vegas Strip; • the fact that we extend credit to a large portion of our customers and we may not be able to collect gaming receivables; • the potential occurrence of impairments to goodwill, indefinite-lived intangible assets or long-lived assets which could negatively affect future profits; • the susceptibility of leisure and business travel, especially travel by air, to global geopolitical events, such as terrorist attacks or acts of war or hostility, and to disease epidemics; • the fact that co-investing in properties, including our investment in CityCenter, decreases our ability to manage risk; • the fact that future construction or development projects will be susceptible to substantial development and construction risks; • the fact that our insurance coverage may not be adequate to cover all possible losses that our properties could suffer, our insurance costs may increase and we may not be able to

obtain similar insurance coverage in the future; • the fact that a failure to protect our trademarks could have a negative impact on the value of our brand names and adversely affect our business; • the risks associated with doing business outside of the United States and the impact of any potential violations of the Foreign Corrupt Practices Act or other similar anti-corruption

laws; • risks related to pending claims that have been, or future claims that may be brought against us; • the fact that a significant portion of our labor force is covered by collective bargaining agreements; • the sensitivity of our business to energy prices and a rise in energy prices could harm our operating results; • the potential that failure to maintain the integrity of our computer systems and internal customer information could result in damage of reputation and/or subject us to fines,

payment of damages, lawsuits or other restrictions on our use or transfer of data; • increases in gaming taxes and fees in the jurisdictions in which we operate; and • the potential for conflicts of interest to arise because certain of our directors and officers are also directors of MGM China, which is a publicly traded company listed on the Hong

Kong Stock Exchange.

Any forward-looking statement made by us in this presentation speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law. If we update one or more forward-looking statements, no inference should be made that we will make additional updates with respect to those or other forward-looking statements.

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Legal Disclaimers Note Regarding Presentation of Non-GAAP Financial Measures

The following presentation includes certain “non-GAAP financial measures” as defined in Regulation G under the Securities Exchange Act of 1934, as amended. Schedules that reconcile the non-GAAP financial measures to the most directly comparable financial measures calculated and presented in accordance with Generally Accepted Accounting Principles in the United States are included herein or in our earnings releases that have been furnished with the SEC and are available on our website at www.mgmresorts.com. In addition, the following presentation includes projected Adjusted Free Cash Flow. Projected Adjusted Free Cash Flow is a non-GAAP measure and may not be similar to free cash flow measures used by other companies. The Company uses Adjusted Free Cash Flow because the Company believes that it is indicative of its ability to fund project developments, acquisitions and other investments and, in the absence of refinancings, to repay its debt obligations. Adjusted Free Cash Flow is not intended to replace “Net cash provided by operating activities,” which is the most comparable U.S. GAAP measure. However, the Company believes Adjusted Free Cash Flow gives investors useful insight into how the Company views its liquidity. Nevertheless, the use of Adjusted Free Cash Flow as a liquidity measure has material limitations because it excludes certain expenditures that are required or that the Company has committed to, such as repayment of principal amounts of long term indebtedness. Projected Adjusted Free Cash Flow is an estimate of the company’s operating cash flow adjusted for capital expenditures, distributions received from joint venture in excess of cumulative earnings, and distributions to non-controlling interests. The Company is unable to provide a quantitative reconciliation of projected Adjusted EBITDA to net income (loss) because the Company cannot reliably forecast property transactions, net or depreciation and amortization, which are difficult to predict and estimate and are primarily dependent on future events. Please note that the unavailable reconciling items could significantly impact the Company’s future financial results.

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MGM Growth Properties

James Stewart CEO of MGM Growth Properties LLC

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Introduction To MGM Growth Properties

Las Vegas

Biloxi, MS

Tunica, MS

Detroit, MI Atlantic City, NJ

• Publicly traded REIT engaged in owning, acquiring and leasing high-quality leisure, entertainment and hospitality assets and other attractive triple-net lease opportunities

• Assets leased to MGM Resorts creating $650 million of revenues in year one as part of a long-term triple net master lease (including Borgata)

• One of the largest portfolios of premier assets on the Las Vegas Strip based on hotel rooms and convention square footage

• Additional embedded growth opportunity in ROFO assets, MGM National Harbor and MGM Springfield Geographic Overview

Las Vegas Assets Regional Assets ROFO Assets

1

2

3

4

5

6

7

1

2

3

4

1

2

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Acquisition Of The Real Property Of The Borgata

MGM Growth Properties has reached an agreement with MGM Resorts to acquire the real property of the Borgata Hotel Casino & Spa for $1,175 million

Represents a 11.75x purchase multiple on beginning year rent, or a ~8.5% cap rate

MGP expects to finance the transaction with cash on hand, OP Units based on MGP’s closing share price of $23.03 on 5/27/16 and debt draw that is neutral to current net leverage of ~5.5x (1)

High single digit percentage accretion to AFFO / share

Agreement to add Borgata into the in-place Master Lease with MGM Resorts

Pro forma, increases base rental income by 18%, room count by 11%

Transaction Overview Portfolio Pro Forma

Current Pro Forma

# of Properties 10 11

# of States 3 4

# of Hotel Rooms 24,466 27,233

Meeting / Convention Space ~2.5 million sq. ft. ~2.6 million sq. ft.

Mandalay Bay 20%

Mirage 12%

Luxor 8%

Monte Carlo 6% Excalibur

6%

NY-NY 7%

MGM Detroit

12%

Beau Rivage 8%

Gold Strike 4%

Borgata 17%

LV Luxury 32%

LV Upscale / Midscale

27%

Regional 41%

2015 Revenue Diversification Pro Forma

Source: Company filings (1) Net leverage represents pro forma total debt outstanding less cash and cash equivalents divided by pro forma Further

Adjusted EBITDA as of December 31, 2015. For a description and reconciliation of MGP’s pro forma Further Adjusted EBITDA see MGM Resorts’ 8-K that was furnished to the SEC on April 4, 2016. Cash and cash equivalents, after giving effect to the underwriters option to purchase additional Class A common shares in the initial public offering, would have been ~$264.5 million as of December 31, 2015 112

Long-Term Strategy

ROFO Assets

Existing MGM Assets, Future Acquisitions,

Development, and Expansions

Asset Class and Tenant

Diversification

Contractual Rent

Escalators

$60+ million

of contractual rent growth through the first six years of lease

Opportunity to acquire additional gaming properties from third parties

Pursue attractive net lease acquisitions that may be available in leisure, entertainment, hospitality and related sectors

Potential opportunities

Park theater expansion

CityCenter

Borgata (Announced 5/31/16)

Grand Victoria

Bellagio

MGM Grand Las Vegas

Circus Circus Las Vegas

MGM National Harbor: $1.3 billion development opening late 2016

MGM Springfield: $865 million development opening in late 2018

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MGP Rent Growth Potential • Escalators based on 2% annual rent growth on the initial 90% of total rent per the Master Lease

for Standalone & Borgata over first 6 years

• MGM National Harbor & MGM Springfield Rental Revenue based on a rent coverage of 2.0x (1)

Source: Company filings, Wall Street Research (1) Based on Consensus Wall Street Analyst Estimates

($ millions)

$550

$1,021

$100

$160 $61

$150

FY 2016 PF Borgata ROFOs @ 2.0xAnalyst Estimates

Escalators ofInitial + Borgata

Additional PotentialAcquisitions

Total Potential Rent

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MGP Comparable Value 2015A Rental Revenue ($mm) (1) 2016E – 2018E AFFO / Share CAGR Dividend Yield (2)

5.7%

4.1% 3.7% 3.7%

0%

1%

2%

3%

4%

5%

6%

7%

MGP StoreCapital

RealtyIncome

NationalRetail

Properties

6.2%

4.2%

3.3%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

9.0%

10.0%

Store Capital RealtyIncome

NationalRetail

Properties

Borgata AFFO / Share Accretion: High Single Digits %

$977

$550 $465

$271

$0

$200

$400

$600

$800

$1,000

$1,200

RealtyIncome

MGP NationalRetail

Properties

StoreCapital

Source: Company filings, FactSet, Street Research as of 06/15/2016; Note: AFFO / Share based on Wall Street Research estimates (1) Based on “Rental Revenue” per Company disclosure for O and STOR; based on “Rental Income” per Company disclosure for NNN; MGP based on FY 2016 PF Rent (2) Based on last quarter dividend annualized

115

Q&A

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June 16, 2016

MGM RESORTS INTERNATIONAL ANALYST & INVESTOR DAY PRESENTATION