Addressing stakeholders at the Global Gaming Expo, Hornbuckle emphasized a commitment to shareholder value, describing MGM as a company with significant unrealized potential. He pointed toward a diverse portfolio that includes the BetMGM platform, operations in Macao, and a major resort project currently under construction in Japan as key drivers for future growth.
The strategic tension follows People Inc.’s withdrawal of a $48.30-per-share takeover offer. Barry Diller, the architect behind People Inc., cited a failure to align the necessary conditions for a deal, though he maintained that the firm remains open to strategic cooperation. With People Inc. currently holding a 27% stake in MGM, any potential acquisition by the casino operator would represent a significant shift in corporate power, effectively turning its largest shareholder into a target.
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