This is a weird one.
Build environment: OS X Sierra (10.12.3), Xcode 8.2.1, clang-800.0.42.1, SDL is installed as native frameworks (both 1.2.15 and 2.0.5), and SUBTARGET=arcade is set at build time. MAME builds fine - no errors, no warnings.
My usual quick test to see if I have a functional binary post-build (`mamearcade64 pacman -rompath /path/to/roms`) works fine: Pac-Man starts up, coins up, and plays with controls and audio. So far, so good.
However, attempting to start any game after that initial test run results in a black screen with the pointer on top of it (the pointer is controllable), and I have to force quit the emulator with CMD-OPTION-ESC in order to get out of it.
It doesn't seem to matter what the test game is, or the one that is specified on subsequent launches. You get one successful startup and that's it. Note that I have been testing out of 'clean' directories with fresh configs, etc. so this likely isn't a case of an older configuration, NVRAM, etc. file causing an issue.
Downloaded the official 0.182 binary from http://sdlmame.lngn.net/ and got the same result, so doubt that it's my build environment.
0.181 was running fine on here a few days ago. About the only thing I can think of that's changed is that the 10.12.3 update to OS X was pushed down recently. Unfortunately, I don't recall if I ran 0.181 after that was installed or not, so can't give a direct comparison.
Has anyone else seen this behaviour? It's really odd and I'm wondering if this isn't down to a change Apple made rather than something to do with MAME.