MGM Resorts International owns and operates casino resorts in Las Vegas and other markets, along with a growing sports betting and online gaming business through its BetMGM joint venture. Its Las Vegas properties represent a significant portion of the company's business, combining casino gaming with hotel, dining, entertainment and convention facilities that together drive visitor spending across multiple revenue streams beyond just gambling. MGM's BetMGM sports betting and online casino business has grown alongside the expansion of legalized sports betting across U.S. states, giving the company exposure to online gaming in addition to its traditional physical casino resort operations. The company's results are sensitive to broader travel and tourism trends, consumer discretionary spending on gaming and entertainment, and the regulatory environment for both traditional casino gaming and the newer online sports betting and gaming markets it has expanded into.