The hospitality and entertainment company will shut casino operations on 16 March, followed by hotel business, while total activity will come to a halt from 17 March.
MGM also announced it will not be taking any reservations for arrivals until at least 1 May.
The coronavirus, which has caused the postponement of all major sports leagues in the US and around the globe, has seen nearly 172,000 cases reported worldwide.
The virus has claimed 69 lives in the US at the time of writing, out of more than 3,800 cases.
MGM Chairman and CEO, Jim Murren, who announced last month he will be stepping down once a successor is found, said: "Despite our commitment to dedicating additional resources for cleaning and promoting good health, while making difficult decisions to close certain aspects of our operations, it is now apparent this is a public health crisis that requires major collective action if we are to slow its progression.
"We plan to reopen our resorts as soon as it is safe to do so and we will continue to support our employees, guests and communities in every way we can during this period of closure."
MGM had announced intentions earlier this month to buy back $1.25bn of shares, due to a recent hit in stock prices due to the outbreak, after losing around $1.5m daily during the casino closures in Macau.
