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

People Incorporated

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))