CreditSights said MGM China could face event risk if parent MGM Resorts International changes ownership, while describing takeover overhang as less acute. MGM Resorts owns 56% of MGM China, and the companies are not currently in transaction talks, according to the report.
Investors can weigh potential ownership changes at MGM Resorts against event risk for MGM China.
Quarter ended 30 September 2026
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MGM Resorts said it amended its voting agreement with People Inc., Barry Diller and associated entities. Subject to conditions, they must vote their MGM shares in line with the board’s recommendation in a change-of-control transaction, and their combined ownership cannot exceed 29.9%. MGM said neither party is required to pursue a transaction and none is contemplated.
A statement from the Las Vegas-based company confirmed that MGM Resorts International and People Inc., the vehicle of Barry Diller, revised a voting agreement they had signed earlier in the year. The filing describes People, Diller and certain associated persons as the "Covered Entities." Those parties committed, provided certain conditions are met, to cast all of their MGM Resorts shares the way the board recommends when a change of control transaction arises. The company gave no indication that it is in discussions with another bidder.
Reportedly, People Inc withdrew its bid for the MGM Resorts shares it did not own. People held approximately 27% of MGM and proposed the acquisition in June, valuing the deal above $18bn.
People Inc has withdrawn its proposal to acquire the MGM Resorts International shares it does not already own, MGM confirmed. The proposal, submitted on 1 June, valued the deal at more than $18bn and offered $48.30 a share for the remaining stock. People holds 66.8 million MGM shares, approximately 27% of the company.
It was reported that People Inc.’s plan to buy MGM Resorts drew questions from Nevada Gaming Commission members. Commission members expressed concern because MGM employs more private-sector workers than any other Nevada employer.
MGM Resorts said MGM Digital generated $184m in segment revenue in the third quarter of 2026, up from $174m a year earlier. Its adjusted EBITDAR loss narrowed to $4m from $23m, while revenue growth slowed to 6%; Spain, the Netherlands and the UK drove gains, management told analysts.
MGM Resorts said its MGM Digital segment narrowed its adjusted EBITDAR loss to $4m in the third quarter of 2026, from $23m a year earlier, according to the company's third-quarter results. Segment revenue rose to $184m from $174m, a 6% increase, as growth slowed from the previous quarter.
MGM China said its third-quarter revenue rose 5% year on year to about HK$8.9bn, while adjusted EBITDA reached roughly HK$2.4bn. Its Macau market share was 17.1%; the company also reported a 4% fall in the market's average daily gross gaming revenue and attributed the decline to a temporary World Cup-related drag.