MGM Resorts International has released its Q1 2026 results, revealing that the company generated $4.5 billion during the quarter, representing a 4% year-on-year rise.In...
Diller’s People Incorporated to acquire MGM Resorts for $18B
Businessman and billionaire Barry Diller has announced plans to acquire MGM Resorts International for $18 billion with a proposal through Diller’s People Incorporated company.
Currently, the company already owns a 26.1% stake in MGM, which makes up 66.8 million shares, making it the operator’s biggest shareholder. Diller’s proposal has offered to buy the rest of the company for $48.30 per share.
Diller stated:
“We began investing in MGM nearly six years ago because we believed it represented a rare kind of business: one with real-world assets that AI cannot easily replicate or disintermediate and exceptional digital growth opportunities. That conviction has only strengthened over time. We continue to believe the market materially undervalues the power and durability of MGM’s assets. We believe MGM’s management team is superb and that there is a compelling opportunity to support MGM’s next phase of growth and help unlock its full value.”
MGM addressed the proposal:
“MGM will carefully review and consider the proposal to determine the course of action that it believes is in the best interests of the company and all of its shareholders.”
The offer represents a 10.6% premium to MGM’s latest closing price and would take the company private; however, Diller shared that Bill Hornbuckle, the current CEO of MGM, as well as the existing management team, would continue holding their positions in the case that the acquisition happens.
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