Wall Street veterans are seeking refuge from AI disruption by investing in Las Vegas, with Barry Diller proposing a $19 billion buyout of MGM Resorts, citing its tangible assets and digital growth potential.
Barry Diller's People Inc has proposed to buy MGM Resorts for over $18bn, offering $48.30 per share. People Inc, which already owns 26.1% of MGM, sees the casino operator as undervalued and a strategic move into the travel and tourism industry.
Barry Diller's People Inc. has made a cash offer of $48.30 per share to acquire MGM Resorts, the company behind major Las Vegas properties. People Inc., which already owns a 26.1% stake in MGM, believes the casino giant is undervalued and presents a unique business model with strong digital growth potential.
Barry Diller's People Inc. is reportedly preparing an $18 billion bid to acquire MGM Resorts, offering $48.30 per share in cash. Diller, already on MGM's board, would recuse himself from voting on the deal. People Inc. currently holds a 26.1% stake in MGM.
