Billionaire Barry Diller has withdrawn his bid for a majority stake in MGM Resorts, according to the Wall Street Journal. Diller had been in talks with the casino operator after offering in June to acquire a controlling interest. The withdrawal marks a significant shift in the potential deal, which had drawn attention in the business world.

Diller, through his investment vehicle, had proposed taking a majority stake in MGM Resorts, one of the largest casino and entertainment companies. The talks, however, have now ended, with Diller pulling his offer. No specific reasons for the withdrawal were immediately disclosed.

The move leaves MGM Resorts without a potential new majority owner, as the company continues its operations. Industry observers had speculated on the implications of Diller's bid, given his background in media and technology. The withdrawal could impact MGM's strategic direction.

Diller's decision to withdraw his bid may affect investor sentiment toward the casino operator. The Wall Street Journal reported the development, highlighting the end of negotiations between the two parties. Further details on the reasons for the withdrawal remain unclear.