LAS VEGAS—MGM Resorts International has announced confirmation of an offer from People Inc. to acquire all of the outstanding shares of the company that it does not already own for $48.30 per share in cash. The MGM Resorts International Board of Directors, in consultation with its financial and legal advisors, will carefully review and consider the proposal to determine the course of action that it believes is in the best interests of the company and all of its shareholders.
According to a corporate press release, MGM Resorts “cannot provide assurances that such proposal or any subsequent proposal will result in an agreement or a transaction being reached or, if so, as to the timing, price or other terms and conditions of any such agreement. The company remains focused on advancing its position as the world’s premier gaming entertainment company.”
MGM Resorts International (NYSE: MGM) is an S&P 500® global gaming and entertainment company with national and international locations featuring best-in-class hotels and casinos, state-of-the-art meetings and conference spaces, incredible live and theatrical entertainment experiences, and an extensive array of restaurant, nightlife and retail offerings. MGM Resorts creates immersive, iconic experiences through its suite of Las Vegas-inspired brands.
The MGM Resorts portfolio encompasses 31 unique hotel and gaming destinations globally, including some of the most recognizable resort brands in the industry. The Company’s 50/50 venture, BetMGM, LLC, offers U.S. sports betting and online gaming in North America through market-leading brands, including BetMGM and partypoker, and the Company’s subsidiary, LV Lion Holding Limited, offers sports betting and online gaming through market-leading brands in several jurisdictions throughout Europe. The Company is currently pursuing targeted expansion in Asia through an integrated resort development in Japan. Through its Focused on What Matters philosophy, MGM Resorts commits to creating a more sustainable future, while striving to make a bigger difference in the lives of its employees, guests and in the communities where it operates.
