Barry Diller’s People Inc is pressing an $18bn offer for MGM Resorts, valuing the remaining 74 % at $48.30 per share, a 10.6 % premium to the last close. The media veteran, who already controls 26 % of MGM, says physical resorts‑like the Bellagio and Mandalay Bay retain unique appeal in an AI‑driven economy. He calls the deal a “good big swing” that leverages hard assets against digital disruption.

Las Vegas visitor numbers fell 7.5 % in 2025, prompting Diller to blame short‑term factors such as immigration policy and a sluggish Canadian market. He argues those issues will not erode long‑term demand for resort experiences. People Inc posted a Q1 loss of $72 million on $423 million revenue, underscoring why the billionaire sees MGM’s tangible properties as a hedge against the volatility of digital publishing.

MGM’s shares slipped from a June 1 high of $50.69 but stayed above the $43.67 offer price, reflecting investor caution amid pending antitrust review. Diller, who began buying MGM in 2020 through IAC, also floated interest in media assets like CNN, signalling a broader strategy to blend hospitality with content. The bid now awaits regulator sign‑off, putting a rare $18bn casino acquisition on the table.