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Barry Diller Drops $18B Bid to Buy MGM Resorts
FeaturedfinanceSkift··1 min·For: Investor, Owner, Revenue

Barry Diller Drops $18B Bid to Buy MGM Resorts

Barry Diller's People Inc. has withdrawn its roughly $18 billion offer to take MGM Resorts International private, leaving the hospitality and casino operator public. People retains a 27% stake in MGM and remains open to future strategic transactions as Las Vegas Strip demand softens.

Key Takeaways

  1. 1People Inc. pulled its $18B buyout proposal but retains a 27% stake in MGM.
  2. 2Diller noted future strategic transactions remain possible if market conditions align.
  3. 3Las Vegas Strip demand shows softening, with Q2 occupancy flat and ADR down 4%.

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Source: Skift

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