The future of MGM Resorts International and Caesars Entertainment as publicly traded companies may be coming to an end, as Nevada regulators have approved plans that could lead to their exit from the stock market. Both companies are currently facing takeover bids from buyers interested in operating them privately. MGM made its debut on the New York Stock Exchange in the late 1990s, while Caesars became a publicly listed entity in 2012.
Last week, the Nevada Gaming Commission unanimously voted to amend the permits and registration orders for both firms, as reported by the Las Vegas Review-Journal.
With casino revenues along the Las Vegas Strip plummeting by 81% in 2025, concerns have arisen over declining visitor numbers potentially posing long-term risks to the iconic gambling destination in the United States.
If the takeover deals proceed, it would signify a significant transformation for Las Vegas, where Caesars and MGM together operate 18 venues on the Strip.
Recent changes on the Strip have included major asset sales, such as the $6.4 billion worth of Strip properties that Las Vegas Sands sold off in December 2023.
During the Nevada commission meeting, approvals were granted for shelf offerings for both Caesars and MGM. Shelf offerings allow companies to register new securities without the immediate obligation to sell them, enabling them to keep securities available for up to three years while adhering to Securities & Exchange Commission regulations.
Caesars has already approved a takeover bid from rival operator Fertitta Entertainment, which owns the Golden Nugget. The Nevada gaming regulator has also signed off on licenses for two members of Fertitta’s board: Richard Liem, the Chief Financial Officer, and Steven Scheinthal.
On the other hand, MGM Resorts is considering a takeover bid from billionaire Barry Diller and his firm, People Inc. Chandler Pohl, MGM's Vice President and Legal Counsel, refrained from commenting on prospective operations under Diller's ownership but indicated that updates may be discussed during the upcoming Q2 earnings call on July 29.
Uncertainty looms over MGM Resorts’ Asian operations. MGM also holds a stake in MGM China, a company listed on the Stock Exchange of Hong Kong that operates casinos in Macau. Plans are moving forward for MGM Osaka, which is expected to become Japan's first casino when it opens in 2030.
Currently, MGM’s board has yet to approve Diller's buyout offer of $48.30 per share. In pre-market trading on July 27, MGM Resorts’ share price continued to decline, following an 8.4% drop over the previous month; however, it rose back above $45.75 once the market opened. Meanwhile, MGM China's shares rose over 4% on the same day.
As MGM and Caesars await their future, other U.S. operators are working on new gambling facilities. In New York, three new casinos are under development, with at least one already partially open. Additionally, tribal casinos are enjoying a surge in revenue and visitor traffic, prompting the construction of new venues across the country.
