LAS VEGAS - MGM Resorts International (NYSE:MGM) said today that People Incorporated has withdrawn its proposal to acquire the outstanding shares of the company that it does not already own, according to a press release statement.
People Incorporated submitted the acquisition proposal on June 1, 2026. A special committee of MGM Resorts’ Board of Directors participated in negotiations with People over the past several months. MGM Resorts will continue operating as a standalone company.
Paul Salem, Chairman of the MGM Resorts Board, said the board remains focused on the company’s operations in Las Vegas, regional properties, and BetMGM’s performance. He also cited the company’s international portfolio including MGM China and MGM Osaka.
MGM Resorts operates 30 hotel and gaming destinations globally. The company’s 50/50 venture BetMGM offers sports betting and online gaming in North America. The company’s subsidiary LV Lion Holding Limited provides sports betting and online gaming in Europe and Brazil. MGM Resorts is pursuing an integrated resort development in Japan.
The press release did not disclose the percentage of MGM Resorts shares currently owned by People Incorporated or the terms of the withdrawn proposal.
People Incorporated submitted the acquisition proposal on June 1, 2026. A special committee of MGM Resorts’ Board of Directors participated in negotiations with People over the past several months. MGM Resorts will continue operating as a standalone company.
Paul Salem, Chairman of the MGM Resorts Board, said the board remains focused on the company’s operations in Las Vegas, regional properties, and BetMGM’s performance. He also cited the company’s international portfolio including MGM China and MGM Osaka.
MGM Resorts operates 30 hotel and gaming destinations globally. The company’s 50/50 venture BetMGM offers sports betting and online gaming in North America. The company’s subsidiary LV Lion Holding Limited provides sports betting and online gaming in Europe and Brazil. MGM Resorts is pursuing an integrated resort development in Japan.
The press release did not disclose the percentage of MGM Resorts shares currently owned by People Incorporated or the terms of the withdrawn proposal.