Diller’s People makes $18B cash bid to acquire MGM Resorts

Barry Diller’s People Inc. has proposed an all-cash purchase of MGM Resorts for more than $18 billion, offering $48.30 per share and about a 10.6% premium to MGM’s prior close. People already owns roughly 26.1% of MGM, and the bid signals a strategic shift from digital media to hospitality and travel, with MGM’s Las Vegas properties, Macau, and BetMGM digital arm central to the value. The move follows a wave of casino M&A activity, including Tilman Fertitta’s Caesars deal.