MGM Resorts International (MGM)

Debt-to-assets ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	6,343,810	7,432,820	11,770,800	12,376,700	11,168,900
Total assets	US$ in thousands	42,368,500	45,692,200	40,899,100	36,494,900	33,876,400
Debt-to-assets ratio		0.15	0.16	0.29	0.34	0.33

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $6,343,810K ÷ $42,368,500K
= 0.15

MGM Resorts International's debt-to-assets ratio has shown a decreasing trend over the past five years, indicating a stronger financial position in terms of leverage. The ratio has decreased from 0.33 in 2019 to 0.15 in 2023. This suggests that the company has been able to reduce its debt relative to its total assets, which can be viewed positively by investors and creditors as it signifies lower financial risk and greater stability. The declining trend in the debt-to-assets ratio reflects potential improvements in the company's debt management strategies and overall financial health.