Good morning. The casino chessboard is shifting. Media group People Inc. has moved a major piece, submitting an $18 billion bid to take MGM Resorts private after nearly six years as a major shareholder. The offer comes just days after another major U.S. casino takeover deal, putting consolidation talk firmly back in the spotlight. In Macau, Seaport says May’s GGR was dragged down by low VIP hold but supported by stronger underlying demand, with June forecast to be broadly flat year-on-year. And in Sydney, The Star has been fined $7.2 million over historical compliance breaches, even as regulators note some remediation progress.
What you need to know
- Barry Diller-led People Inc. proposes taking MGM Resorts private in a $18 billion-plus deal, aiming to gain control of the casino group.
- Seaport says strong premium play supported Macau in May, but low VIP hold weighed on GGR, with June expected flat YoY.
- The Star Sydney faces $7.2 million in penalties after NSW regulators identified historical breaches linked to financial crime risk and gambling harm.
On the radar
- Jeju Dream Tower casino sales rise 19.5% to $33M in May.
- Macau posts strongest May since the pandemic, GGR up 6.7% to $2.8B.
- Over 4M Thai Gen Z users drawn into online gambling: police.
- Malaysia tightens social media controls to combat online gambling.
AGB Intelligence
M&A
People Inc seeks majority control of MGM Resorts in $18B offer
Media group People Incorporated, led by Barry Diller, has launched an $18 billion bid to take MGM Resorts International private, offering $48.30 per share for the stock it does not already own and seeking control of the company. People said the offer reflects its view that MGM’s assets and digital growth prospects remain undervalued. MGM said its board would review the bid but cautioned there was no assurance it would lead to an agreement.
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How Crypto Adoption in Asia is Changing iGaming Payments
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