Share 
MGM Resorts International will continue operating as an independent company after People Incorporated withdrew its proposal to acquire the casino operator.
The decision leaves MGM Grand Detroit and MGM Resorts’ 50% stake in BetMGM under their existing ownership structures, with no operational changes announced for either business.
The company confirmed the decision on Sept. 23, bringing nearly four months of takeover discussions to an end. People Incorporated had offered $48.30 per share to acquire the MGM Resorts shares it did not already own and take the company private.
Takeover talks end, but People Incorporated retains MGM stake
People Incorporated, formerly known as IAC, submitted its nonbinding acquisition proposal on June 1. MGM Resorts subsequently formed a special committee of its board to review and evaluate the offer, with negotiations continuing over the following months.
People Incorporated Chairman Barry Diller said the proposed transaction had not progressed as the company had hoped. However, he did not identify a specific reason or provide a detailed explanation for the decision to withdraw the offer.
People Incorporated will remain a major MGM Resorts shareholder despite the unsuccessful takeover discussions. The company confirmed it continues to hold 66.8 million shares, representing approximately 27% of MGM Resorts.
Diller also indicated that People Incorporated remains interested in a potential future transaction with MGM Resorts, although neither company has announced another proposal. The Wall Street Journal reported that MGM may be interested in acquiring People Incorporated, which would be a complete reversal to the original plan.
With the takeover proposal withdrawn, MGM Resorts plans to focus on executing its existing strategy as an independent company. Its board highlighted the company’s casino properties and BetMGM’s performance as important parts of that strategy.
MGM Grand Detroit maintains lead in Detroit casino revenue
The withdrawal is relevant to Michigan because MGM Resorts operates MGM Grand Detroit, which remains the highest-earning of the city’s three commercial casinos based on its latest monthly revenue figures.
According to the August casino revenue, MGM Grand Detroit generated $52.9 million from slot machines and table games during the month. That represented a 2.3% increase compared with August 2025.
The property accounted for approximately 48% of Detroit’s combined casino revenue from slots and table games during August, placing it ahead of the city’s two other commercial casinos:
- MotorCity Casino: $33.77 million, up 8.3% year-over-year.
- Hollywood Casino at Greektown: $22.19 million, down 2.6% year-over-year.
Together, Detroit’s three commercial casinos generated $108.86 million in revenue from slots and table games during August, representing a 3% increase from the same month last year.
BetMGM’s Michigan operations remain unchanged
MGM Resorts also holds a 50% ownership stake in BetMGM, with Entain owning the remaining half of the joint venture. In Michigan, BetMGM operates an online casino, poker platform, and sportsbook through its existing partnership with MGM Grand Detroit.
The Michigan Gaming Control Board lists MGM Grand Detroit as the licensed operator and BetMGM as its authorized online platform provider in the state.
People Incorporated’s proposed acquisition targeted MGM Resorts rather than BetMGM directly. Had the transaction proceeded, it would have changed the ownership of one of the two companies behind the BetMGM joint venture.
MGM Resorts also highlighted BetMGM’s continued momentum in its Sept. 23 announcement, identifying the joint venture as one of the businesses contributing to its shareholder value.
For Michigan players, BetMGM will continue offering its existing online casino, poker, and sportsbook services through its partnership with MGM Grand Detroit. Neither company announced changes to BetMGM’s Michigan online casino, poker, or sportsbook services following the withdrawal.
