Update: MGM Resorts Shares Fall After People Withdraws Buyout Proposal

04:57 AM EDT, 09/24/2026 (MT Newswires) -- (Updates with the stock move in the headline and the first paragraph.) MGM Resorts International's (MGM) shares were down 8.3% in premarket activity Thursday after People (PPLI) dropped its offer to acquire the casino operator. People Chairman Barry Diller said late Wednesday the group no longer believed the conditions for a take-private deal were coming together as hoped, though he reiterated confidence in MGM's long-term prospects. MGM separately confirmed the withdrawal and said it will continue to operate as an independent company.