MGM CEO leaves door open to People Inc. bid as casino dealmaking heats up

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Published: 2026-10-03T17:20:32.949Z • Permanent link

MGM Resorts International's CEO, Jim Murren, left the door open for a potential bid from People Inc., a private investment firm led by billionaire Ken Griffin. In an interview with CNBC, Murren expressed interest in exploring strategic options, including a potential sale, citing the company's debt burden and desire to focus on its core business. MGM has been navigating a tumultuous casino landscape, with increased competition from online gaming and rising costs associated with maintaining its brick-and-mortar properties. In recent months, the company has been actively seeking a buyer or partner to help alleviate its financial woes.

MGM's efforts to revamp its business model have been hindered by a combination of factors, including the COVID-19 pandemic's impact on the gaming industry and a recent decline in the company's valuation. The firm's shares have lost nearly 40% of their value over the past year, making it an attractive target for investors seeking a distressed opportunity. People Inc., a firm with a reputation for making strategic acquisitions, has been quietly building its gaming portfolio through a series of smaller transactions.

The potential for a People Inc.-led bid adds a new layer of complexity to MGM's already challenging situation. The company's board of directors has been exploring various options to address its financial struggles, including a possible sale or merger. Any potential deal would need to address MGM's substantial debt burden, estimated at over $10 billion, and the company's desire to maintain its competitive edge in the gaming industry.

A potential People Inc.-led bid for MGM would have significant implications for the gaming industry and investors alike. The deal would not only provide a much-needed influx of capital for MGM but also create a new competitor in the market. The acquisition would also raise questions about the future of casino gaming in the United States, particularly in states where online gaming is becoming increasingly popular.

The gaming industry is closely watched by research communities, including firms like Eilers & Krejcik Gaming and the American Gaming Association. These organizations provide valuable insights into market trends and regulatory developments, which can significantly impact the industry's outlook. The potential for a People Inc.-led bid would also spark intense scrutiny from investors, policymakers, and the media, highlighting the need for careful consideration of the deal's terms and implications.

The MGM-People Inc. bid is part of a larger trend in the gaming industry, where companies are increasingly exploring strategic options to address financial challenges. Other firms, such as Caesars Entertainment and Wynn Resorts, have also been navigating similar situations, seeking buyers or partners to help alleviate their debt burdens. The current market environment, marked by increasing competition from online gaming and rising costs associated with maintaining brick-and-mortar properties, has created a perfect storm of challenges for the industry.