MGM and People Inc end takeover talks and cap the stake at 29.9 per cent
On 28 October 2026 MGM Resorts said it had amended its voting agreement with People Incorporated after People withdrew its offer to buy the company. People and Barry Diller agreed not to go above 29.9 per cent ownership and to vote with the board on any change of control.
MGM is a US land-based and online gaming group and has no licence to serve South African players, so this is not a story about your own betting. It matters as a signal about the global industry that supplies games and technology to many offshore brands. Big takeover moves and weak results at the top of the sector can lead to cost cutting, partnerships and sales of smaller businesses further down the chain.
What MGM announced
MGM Resorts International said on 28 October 2026 that it had amended its existing voting agreement with People Incorporated, its largest shareholder. The company said the change followed People's withdrawal of its earlier proposal to acquire MGM.
Under the terms in MGM's release, People, Barry Diller and certain associated persons agreed, subject to conditions, to vote all their MGM shares in line with the board's recommendation on any change of control. They also agreed not to buy more shares if that would take them above 29.9 per cent of the company. In return MGM agreed not to take defensive measures aimed against them.
MGM stressed that the agreement does not oblige either side to pursue a transaction and that none is contemplated.
The third quarter numbers
iGaming Business reported that MGM's chief executive, Bill Hornbuckle, told analysts the talks about either side buying the other were finished. The same report put group revenue at 4.2 billion US dollars for the quarter, down 1 per cent on last year, with adjusted EBITDA down 20 per cent to 403 million dollars. Net loss narrowed from 285 million dollars to 17 million dollars.
Las Vegas revenue fell 2 per cent, with weaker hotel rates offset by a rise in table games win, while regional casino revenue dropped 10 per cent. MGM China set a quarterly revenue record. These figures come from the trade report on MGM's results; we have not independently checked the earnings tables.
What it means for South African players
There is no direct effect on bonuses, payouts or access for South African players. If you want to understand who is behind the casinos you use, read our casino reviews, which flag how much we have actually verified.
What to watch next
Watch for share buybacks, which MGM's chairman cited as a route to value, and for any later approach if the share price stays weak.