MGM Resorts has amended its voting agreement with People Incorporated. The MGM voting agreement follows the withdrawal of a takeover proposal. It sets new rules for share ownership and voting rights.

• 29.9% ownership limit: People Incorporated, Barry Diller and associated parties cannot increase their combined MGM Resorts stake beyond 29.9%. The limit is part of the amended MGM voting agreement. People remains MGM Resorts’ largest shareholder.
• Voting conditions: The parties agreed to follow the MGM Board’s recommendation in certain takeover votes. In return, MGM agreed not to introduce defensive measures against them while they comply with the agreement. Neither side is required to pursue a transaction.
• Takeover proposal withdrawn: The agreement follows the withdrawal of People’s proposal to acquire MGM Resorts. The original proposal was announced in June 2026. It was withdrawn in September 2026.
• Board position: MGM Chairman Paul Salem said the agreement provides “a clear path to maximize value.” Barry Diller remains on MGM Resorts’ Board. MGM continues with its existing business strategy.

• Shareholder structure: MGM Resorts International is listed on the New York Stock Exchange (NYSE: MGM). People Incorporated (formerly IAC) is its largest shareholder with 26.5%, followed by Davis Selected Advisers (9.3%) and Vanguard Capital Management (5.4%). The remaining shares are held by other institutional and individual investors.

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