MGM Resorts falls after Barry Diller's People withdraws buyout proposal

MGM Resorts International

24/09/2026 09:49

** Shares of casino operator MGM Resorts International MGM.N down 8.38% at $34.68 in premarket trading 
** Stock down after media mogul Barry Diller's People Inc PPLI.O withdrew its proposal to purchase all public shares of MGM 
** People Inc, which owns a ~27% stake in MGM, had proposed to buy remaining shares for $48.30 each, valuing company at more than $18 billion
** MGM has been relying on growth in its China assets and digital operations in recent quarters amid sluggish footfalls at its Las Vegas properties
** Eleven of 24 brokerages rate the stock "buy" or higher, 11 "hold" and 2 "sell" or lower; their median PT is $48.3 - LSEG-compiled data 
** YTD, MGM shares up about 3.7%, compared with a 12.6% rise in the S&P 500 .SPX


 (Reporting by Kanishka Ajmera in Bengaluru)
 ((mail to: Kanishka.Ajmera@thomsonreuters.com))