MGM executive Chandler Pohl told the Nevada Gaming Control Board that he could provide no further information about People Inc’s proposed acquisition of MGM shares. People Inc has made a non-binding cash offer of $48.30 per share for the shares it does not already own, valuing the proposal at $18bn; MGM has not announced a decision.
The proposal’s status affects MGM shareholders and the company’s potential ownership structure.
The day’s most important stories, free. One email a day.
Regulators from Florida, Massachusetts and Nevada described challenges in tackling illegal online gambling at a recent industry panel. Florida Gaming Control Commission law enforcement director Carl Herold said enforcement has shifted towards more technology-focused methods, while Nevada Gaming Commission vice-chairman Brian Krolicki called for international cooperation. IAGR managing director Kevin Mullally said the association plans an international awareness week later this year.
MGM Resorts and People Inc. have amended their voting agreement, with People Inc. to vote its MGM shares in line with the MGM board’s recommendation in a potential change-of-control transaction. CreditSights said the change could give the board more flexibility, while MGM Resorts has said it is not discussing a transaction with Diller’s media consortium; no sale is currently under discussion.
A revised voting arrangement linking MGM Resorts International with Barry Diller’s People Inc. may ease a future sale for the casino operator. Under the revised terms, the media company would commit its shares in line with what the MGM board recommends. A research firm judged that the threat of a takeover has eased since the agreement was changed.
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.
CreditSights noted that MGM China may face "event risk" should control of its Las Vegas-based parent change hands. The firm described takeover overhang risk as "less acute," yet said the revised voting agreement with Diller suggests MGM Resorts might be open to a future sale.
MGM Resorts said on 29 October 2026 that takeover discussions with its largest shareholder, People Inc., had ended after People withdrew its offer of more than $18 billion in September. CEO Bill Hornbuckle said the parties had agreed on a price, but People could not assemble a syndicate that met its objectives; MGM said no transaction is currently under consideration.
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.