Diller, senior executive and chairman of the internet and media conglomerate he founded in 1995, is worth an estimated $5.2 billion as of Monday. He has been chair of online travel giant Expedia since his company acquired Liberty Expedia in a $2.6 billion deal in 2019 and he built Pier 55 named—a park and performance venue named "Little Island"—in the Hudson River in 2021.
Barry Diller, whose company already owns a 26% share of casino giant, has said he sees it as a business that is less at risk of being disintermediated by technology.
Barry Diller's People Inc. is preparing a bid for MGM Resorts at $48.30 per share, according to CNBC's Andrew Ross Sorkin. The offer would value MGM at more than $18 billion.
MGM Resorts is showing signs of a Las Vegas Strip turnaround, supported by improving GGR data and recent sell-side upgrades. Q1 earnings were mixed, with a $78M revenue beat but an EPS miss due to non-operational one-offs; underlying trends remain positive. MGM Digital and China segments are growing, while Las Vegas Strip posted its first positive growth in six quarters, fueling optimism for 2024 EBITDA growth.
MGM (MGM) reported earnings 30 days ago. What's next for the stock?
MGM Resorts International was upgraded to Overweight by JPMorgan, which outlined stabilizing trends in Las Vegas. Data from early 2026 indeed shows an improvement in Las Vegas tourism trends. I believe that the improvement should be extrapolated cautiously. MGM's other segments have grown well, but with weakening profitability.
Shares of MGM Resorts International (MGM) surged on Wednesday after multiple Wall Street firms upgraded the casino operator. Analysts cited growing confidence that visitors and consumers are returning to the Las Vegas Strip following a prolonged period of weaker demand trends.
MGM Resorts Q1 revenues beats expectations as China and digital strength lift sales, but higher costs and margin pressure push earnings below estimates.
The headline numbers for MGM (MGM) give insight into how the company performed in the quarter ended March 2026, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
MGM Resorts International (MGM) Q1 2026 Earnings Call Transcript
MGM Resorts (MGM) came out with quarterly earnings of $0.49 per share, missing the Zacks Consensus Estimate of $0.56 per share. This compares to earnings of $0.69 per share a year ago.
The hotel and casino operator logged a quarterly profit of $125.1 million, down from $148.6 million a year earlier.