USA

MGM Keeps Quiet on Barry Diller’s $18B Buyout Proposal

July 12, 2026
Sarah Chambers

MGM Resorts International remained silent about billionaire Barry Diller
nd#8217;s $18 billion proposal to acquire the casino operator during a Nevada Gaming Control Board meeting on July 8. The lack of comment leaves players and bettors uncertain about how potential ownership changes might affect their experiences at MGM properties.

MGM executives appeared before the Nevada Gaming Control Board as part of an agenda item concerning a continuous public offering, a financial mechanism that allows MGM to raise capital more quickly if needed. Chandler Pohl, MGM
nd#8217;s vice president and legal counsel, declined to provide updates on the buyout proposal, stating,
nd#8220;I can say only what has been made publicly available and should more developments take place, it will become public as well.
nd#8221;

Barry Diller
nd#8217;s company, People Inc. (formerly IAC), currently owns 26.1% of MGM
nd#8217;s common stock and has submitted a non-binding offer to acquire all remaining shares at $48.30 per share in cash. This offer represents a premium of over 24% compared to recent trading prices, which could financially benefit MGM shareholders if accepted.

For players and consumers, ownership changes can sometimes lead to shifts in casino policies, loyalty programs, or property investments. However, no immediate changes have been announced, and MGM
nd#8217;s second-quarter earnings report, expected on July 29, may provide further insight into the company
nd#8217;s financial health and future direction.

The Nevada Gaming Control Board recommended the Nevada Gaming Commission approve MGM
nd#8217;s continuous public offering. Legal counsel Sean McGuinness explained this mechanism
nd#8220;provides the flexibility to move quickly to hit the market appropriately, instead of having to go through the more lengthy process with the Board,
nd#8221; which could help MGM respond promptly to financial opportunities. McGuinness added,
nd#8220;By the time you go through the process with the Board and Commission, the opportunity might have passed.
nd#8221;

Such financial flexibility may indirectly benefit players by supporting MGM
nd#8217;s operational stability, ensuring the company can maintain or enhance its properties and services without delay.

The Board also approved MGM
nd#8217;s application related to the CityCenter project on the Las Vegas Strip, clarifying ownership percentages after previous oversights. The adjustment corrected the ownership split between MGM CC Holdings and Project CC to 65.79% and 34.21%, respectively, following a capital contribution return to Infinity World, a Dubai World subsidiary. Board Chair Mike Dreitzer noted the error was an oversight rather than intentional, emphasizing the importance of accurate regulatory filings.

During the meeting, Board member Chandeni Sendall inquired about MGM
nd#8217;s financial health ahead of the upcoming quarterly earnings call. Pohl responded,
nd#8220;The quarterly results will come out soon and everything seems to be in order as expected,
nd#8221; adding,
nd#8220;We wait anxiously for those results ourselves.
nd#8221;

Players and bettors should monitor official MGM communications and regulatory updates for any developments related to the buyout proposal or changes in company strategy. Ownership transitions can eventually influence casino operations, promotions, and responsible gambling initiatives.

For further information on casino ownership and its impact on players, visit our USA gambling news and business developments sections.

Additional recent industry news includes the resignation of a Caesars Entertainment board member with ties to billionaire Carl Icahn, which may affect corporate governance at another major casino operator (CDC Gaming).

Source: CDC Gaming.

Sarah Chambers
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