Barry Diller’s People Inc. Offers $18 Billion Deal to Take MGM Resorts Private

Barry Diller’s People Inc. has launched a bid to acquire the remaining shares of MGM Resorts International, offering $48.30 per share in cash and valuing the casino giant at roughly $18 billion including debt. The company already owns about 26% of MGM and says the resort operator is undervalued in public markets.

If approved, MGM would become a privately controlled company under People Inc.

The proposal comes during a period of growing merger activity across the gaming sector. Operators are increasingly looking for scale as Las Vegas tourism growth slows from post-pandemic highs while digital betting and international gaming operations become more important revenue drivers.

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For the broader U.S. economy, the deal highlights a continuing trend of large investors targeting companies with significant physical assets and strong consumer brands. MGM owns roughly 40% of the Las Vegas Strip and maintains major online betting interests through BetMGM.

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