MGM Resorts Receives Buyout Bid From Barry Diller’s People

Barry Diller’s People Inc. has made an all-cash offer to acquire MGM Resorts for $48.30 per share, according to a company announcement.

MGM operates some of the most recognizable properties on the Las Vegas Strip, including Bellagio and Aria. Following news of the proposal, MGM shares surged about 11% in early trading, while shares of People rose roughly 2%.

Diller, who serves on MGM’s board and whose company already owns a 26.1% stake in the casino operator, said he would recuse himself from any board discussions or decisions related to the proposed transaction.

Barry Diller's People to put in $18 billion bid for casino giant MGM Resorts https://t.co/r1ZfIeSo8n

— CNBC (@CNBC) June 1, 2026

In a statement, Diller said People first invested in MGM nearly six years ago because of its combination of valuable physical assets and growing digital opportunities. He argued that the market continues to undervalue MGM’s long-term potential.

The report said People believes MGM’s leadership team is strong and that additional support could help unlock the company’s next phase of growth and shareholder value.

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