MGM Resorts International and People Incorporated Enter into Amended Voting Agreement

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.

Key terms of the Agreement include, among other things, that People, Barry Diller and certain associated persons (the "Covered Entities") have agreed, subject to certain conditions, to vote all their MGM Resorts shares in accordance with the Board's recommendation in connection with a change of control transaction. The Covered Entities have also agreed to not purchase additional shares of MGM Resorts if doing so would result in their aggregate ownership exceeding 29.9% of the Company's outstanding shares. For so long as the Covered Entities remain in compliance with the Agreement, MGM Resorts has agreed not to take defensive measures or actions designed to be adverse to the Covered Entities.

"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," said 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."

The Agreement does not obligate MGM Resorts or the Covered Entities to pursue or enter into any transaction and none is contemplated. MGM Resorts remains committed to executing its operational strategy and acting in the best interests of the Company and its shareholders.

About MGM Resorts International

MGM Resorts International (NYSE: MGM) is an S&P 500^® global gaming and entertainment company with national and international destinations featuring best-in-class hotels and casinos, state-of-the-art meetings and conference spaces, incredible live and theatrical entertainment experiences, and an extensive array of restaurant, nightlife and retail offerings. MGM Resorts creates immersive, iconic experiences through its suite of Las Vegas-inspired brands. The MGM Resorts portfolio encompasses 30 unique hotel and gaming destinations globally, including some of the most recognizable resort brands in the industry. The Company's 50/50 venture, BetMGM, LLC, offers sports betting and online gaming in North America through market-leading brands, including BetMGM and partypoker, and the Company's subsidiary, LV Lion Holding Limited, offers sports betting and online gaming through market-leading brands in several jurisdictions throughout Europe and Brazil. The Company is currently pursuing targeted expansion in Asia through an integrated resort development in Japan. Through its Focused on What Matters philosophy, MGM Resorts commits to creating a more sustainable future, while striving to make a bigger difference in the lives of its employees, guests and in the communities where it operates. The global employees of MGM Resorts are proud of their company for being recognized as one of FORTUNE^® Magazine's World's Most Admired Companies^®. For more information, please visit us at www.mgmresorts.com. Please also connect with us @MGMResortsIntl on X as well as Facebook and Instagram.

Forward Looking Statements

Statements in this release that are not historical facts are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, and involve risks and/or uncertainties, including those described in the Company's public filings with the Securities and Exchange Commission. Forward-looking statements can be identified by the use of forward-looking terminology such as "believes," "expects," "could," "may," "will," "should," "seeks," "likely," "intends," "plans," "projects," "estimates" or "anticipates" or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and that do not relate solely to historical matters. The Company has based forward-looking statements on management's current expectations and assumptions and not on historical facts. Forward-looking statements depend on assumptions, data or methods that may be incorrect or imprecise, and the Company may not be able to realize them. These forward-looking statements involve a number of risks and uncertainties. Among the important factors that could cause actual results to differ materially from those indicated in such forward-looking statements include risks relating to any strategic transaction the Company may undertake and the effects of such a transaction, or the completion or failure to complete such a transaction, on the Company's business, the effects of economic conditions and market conditions in the markets in which the Company operates and competition with other destination travel locations throughout the United States and the world, the design, timing and costs of expansion projects, risks relating to international operations, permits, licenses, financings, approvals and other contingencies in connection with growth in new or existing jurisdictions, the risks in the Company's execution of its strategic plan and additional risks and uncertainties described in the Company's Form 10-K, Form 10-Q and Form 8-K reports (including all amendments to those reports). In providing forward-looking statements, the Company is not undertaking any duty or obligation to update these statements publicly as a result of new information, future events or otherwise, except as required by law. If the Company updates one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those other forward-looking statements.

MGM RESORTS CONTACTS:

Investment Community
SARAH ROGERS
Senior Vice President of Corporate Finance & Treasurer
[email protected]

HOWARD WANG
Vice President of Investor Relations
[email protected] 

News Media
BRIAN AHERN
Executive Director of Communications
[email protected] 

SOURCE MGM Resorts International