MGM Resorts CFO: Investors 'Aren't Doing the Work' to Value Company Properly -- WSJ

Dow Jones06-03 04:39

By Jacob Passy

MGM Resorts Chief Financial Officer Jonathan Halkyard echoed Barry Diller's sentiment that markets aren't giving the casino giant its due.

Speaking at a hotel investment conference in New York Tuesday, Halkyard called Diller's assessment of MGM "gratifying" a day after the magnate's People Inc. offered to take the company private in a $12.4 billion deal. People Inc. currently holds a 26% stake in MGM.

"Sometimes investors just aren't doing the work to value the sum of the parts," Halkyard said during a discussion of the future of gaming hospitality.

He suggested that the complexity of MGM's business made it more difficult to assess. He also noted that the valuation of the company's domestic business, which includes its operations in Las Vegas, was "at a very low multiple." He said that MGM could improve how it was communicating its value.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

June 02, 2026 16:39 ET (20:39 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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People Inc. currently holds a 26% stake in MGM. \n\n\n     \"Sometimes investors just aren't doing the work to value the sum of the parts,\" Halkyard said during a discussion of the future of gaming hospitality. \n\n\n     He suggested that the complexity of MGM's business made it more difficult to assess. He also noted that the valuation of the company's domestic business, which includes its operations in Las Vegas, was \"at a very low multiple.\" He said that MGM could improve how it was communicating its value. \n\n\n       This item is part of a Wall Street Journal live coverage event. 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