Nevada's gaming commission has unanimously approved licence amendments for MGM Resorts International and Caesars Entertainment, clearing the way for both operators to delist. Each has accepted a takeover bid from buyers planning to run them as private companies.
Caesars approved an offer from competitor Fertitta Entertainment, owner of the Golden Nugget chain. The regulator licensed two Fertitta directors: CFO Richard Liem and Steven Scheinthal. MGM Resorts is weighing a proposal from billionaire Barry Diller and his firm People Inc at $48.30 per share. The MGM board's decision is expected with second-quarter earnings on 29 July.
The commission also approved shelf offerings for both companies, a mechanism that lets them register new securities without an immediate sale obligation. The instrument gives up to three years without breaching SEC requirements.
MGM debuted on the NYSE in the late 1990s, Caesars in 2012. Together they run 18 properties on the Las Vegas Strip. Casino revenue on the Strip fell 81% in 2025, raising concerns about the long-term future of the largest gambling hub in the US.
MGM's position in Asia remains uncertain. MGM China trades in Hong Kong and operates casinos in Macau on the peninsula and in Cotai. MGM Osaka, Japan's first casino, is under construction with a 2030 launch planned. On 27 July, MGM China shares rose more than 4%, while MGM Resorts stock extended losses in pre-market trading after an 8.4% drop over the month. After the open, the price climbed above $45.75.
