MGM Digital cuts loss to $4m as LeoVegas-led arm's revenue growth slows to 6% - CasinoBeats

Arkhouse, an activist investor, urged People Inc. (PPLI) to repurchase $750M in stock, citing undervaluation and MGM's (MGM) 'depressed' share price. Arkhouse estimates PPLI's intrinsic value at $72 per share, higher than its current $40.90. PPLI owns 26% of MGM and recently abandoned an $18B takeover bid. MGM's CEO ruled out further takeover talks with PPLI.

MGM Resorts ended takeover talks with its largest shareholder, People Inc., led by Barry Diller. Both parties revised their voting agreement, capping People's ownership at 29.9%. MGM reported Q3 revenue of $4.2B, down 1% YoY, with Las Vegas results weighing on performance. MGM China set a quarterly revenue record of $1.1B, up 5% YoY. The company has $2.3B in cash and $5.6B in long-term debt.

MGM Resorts (MGM) shares rose 4.6% after reporting Q3 revenue of $4.2B, a net loss of $17M, and amending a voting agreement, allowing more share repurchases. MGM China revenue hit a record, and BetMGM saw growth. The stock closed at $28.44. The company is down 22.3% YTD.

MGM Resorts International (MGM) has ended talks of any deal with People Inc. (PPLI), according to CEO Bill Hornbuckle during an earnings call. This decision impacts potential M&A activity between the two companies.

MGM Resorts reported Q3 earnings, noting average daily rate pressure but stabilization in October. Regional operations saw a 1% revenue increase, while MGM China's revenue rose 5%. BetMGM narrowed losses with 7% revenue growth. MGM Osaka is on track for a 2030 opening. The company has $1.4B left for share repurchases.

MGM Resorts reported Q3 2026 earnings, highlighting record China and BetMGM performance but facing Las Vegas macro headwinds, including a 45% airline price increase and high jet fuel costs. The company saw a decline in Las Vegas segment adjusted EBITDAR due to lower room revenues. MGM Digital's Brazil operations were shut down unexpectedly.