Negotiations regarding a potential MGM takeover have intensified as MGM Resorts International established a special board committee and appointed financial advisers to evaluate a proposal from media mogul Barry Diller. According to reports from the Wall Street Journal, discussions between the casino operator and Dillers firm, People Incorporated, accelerated this month, although sources caution there is no guarantee a final agreement will be reached. The latest developments in the MGM takeover process follow an offer made by Diller on June first. Under that proposal, Diller offered forty-eight dollars and thirty cents per share to acquire the remaining portion of MGM…

An agreement has been reached for an $18 billion Caesars takeover, while MGM Resorts has received a buyout bid all their own! This Week in Gambling, we’re looking at what all of this means for players, rewards programs, and casinos in Las Vegas, Atlantic City, and all points in between! So, do you remember when billionaire Tilman Fertitta wanted to build a new Las Vegas resort right in the middle of the Strip? Well… he don’t have to worry about that no more! The Golden Nugget owner purchased Caesars’ Entertainment for $17.6 billion, and industry experts believe this takeover will…

A takeover offer was submitted to MGM Resorts International on Monday by Barry Diller’s firm, People Inc., valuing the casino operator at more than 18 billion dollars. The corporate proposal arrived only days after another major hospitality acquisition in the United States gaming sector, indicating a wave of consolidation across the domestic casino industry. People Inc., which was previously known as IAC, announced it made an offer of 48.30 dollars per share in cash for the shares of MGM Resorts that it does not currently own. The proposal marks a premium of roughly 10.6 percent over the closing price of…

MGM Resorts announced its first quarter financial results on Wednesday, revealing a complex performance defined by strong growth in international and digital markets despite some challenges in its domestic operations. The company reported consolidated net revenue of 4.5 billion dollars for the period, marking a 4 percent increase compared to the previous year. This growth was primarily driven by a significant recovery in Macau and an expanding digital footprint. In the Las Vegas segment, MGM Resorts saw revenue reach 2.2 billion dollars. While this represented the first year over year increase for the market since 2024, the gain was minimal…

MGM Resorts has acknowledged that its summer pricing in Las Vegas sparked a public backlash and forced the company to make rapid changes. Executives said the controversy began when reports surfaced of steep markups on basic items, most notably a $26 bottle of water at one of its Strip hotels. The episode crystallized customer anger about perceived gouging and made pricing a public relations problem for the operator. On an earnings call, MGM Resorts’ leadership admitted the company “lost control of the narrative” and described the episode as a mistake. The CEO said the company reviewed its own practices after…

MGM Resorts International reported a drop in profits from its Las Vegas operations during the third quarter, as hotel renovations and softer visitor demand slowed performance. The company said net revenue from its Las Vegas properties declined about seven percent to roughly two billion dollars compared to the same period last year. Overall, MGM Resorts posted adjusted earnings of twenty-four cents per share, falling short of analyst projections that averaged around forty cents. Total company revenue increased slightly, rising about 1.6 percent to 4.25 billion dollars, helped by strong results from its China operations, which grew more than seventeen percent…