MGM Resorts International and People Incorporated Enter into Amended Voting Agreement
PR Newswire•28/10/2026•09:01 ET
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Key Highlights
- ➤People withdrew its previously announced proposal to acquire MGM Resorts.
- ➤Covered Entities must vote MGM shares with the Board on change-of-control transactions.
- ➤Covered Entities cannot increase aggregate MGM ownership above 29.9% of outstanding shares.
- ➤MGM may pursue share repurchases and a change-of-control transaction, subject to fiduciary duties.
- ➤Agreement does not obligate either party to pursue a transaction; none is contemplated.
Expert Statements
Paul Salem, Chairman of the MGM Resorts Board
“This agreement provides the Board with a clear path to maximize value through share repurchases and a change of control transaction, if applicable, in accordance with the Board's fiduciary duties.”
Paul Salem, Chairman of the MGM Resorts Board
“We value People, our largest shareholder, and Barry Diller, an MGM Resorts Director, both of whom will continue to help maximize value for all shareholders.”
MGM Resorts International and People Incorporated Enter into Amended Voting Agreement PR Newswire
LAS VEGAS, Oct. 28, 2026 /PRNewswire/ -- MGM Resorts International ("MGM Resorts" or the "Company") today announced that it has amended its existing Voting Agreement with People Incorporated ("People") (as amended, the "Agreement"). The amendment follows People's withdrawal of its previously announced proposal to acquire MGM Resorts.
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