MGM Resorts in Deal Talks With Barry Diller's People Inc.

MGM Resorts International is reportedly engaged in deal talks with Barry Diller's People Inc. The discussions follow an offer from Diller to acquire the portion of the casino company that he does not currently own, according to The Wall Street Journal.

Barry Diller, through his holding company People Inc., has expressed interest in a transaction that would consolidate ownership of MGM Resorts. The specifics of the proposed deal, including valuation and terms, have not been disclosed publicly. The Wall Street Journal cited sources familiar with the matter in its reporting.

This development comes as MGM Resorts continues to navigate the complexities of the hospitality and gaming industry. The company operates numerous casino resorts and entertainment properties across the United States and internationally. The potential acquisition by Diller's People Inc. could represent a significant shift in the ownership structure of one of the major players in the casino sector.

Barry Diller has a long history in the media and entertainment industries, with past ventures including the creation of Fox Broadcasting Company and the acquisition of USA Networks. His interest in MGM Resorts signals a potential new direction for his investment portfolio, focusing on the integrated resort and gaming market. Further details are expected to emerge as the discussions progress.