MGM Resorts International ("MGM Resorts" or the "Company") today announced that it has amended its existing Voting Agreement with People Incorporated ("People") (as amended, the "Agreement"). The amendment follows People's withdrawal of its previously announced proposal to acquire MGM Resorts.

Key terms of the Agreement include, among other things, that People, Barry Diller and certain associated persons (the "Covered Entities") have agreed, subject to certain conditions, to vote all their MGM Resorts shares in accordance with the Board's recommendation in connection with a change of control transaction. The Covered Entities have also agreed to not purchase additional shares of MGM Resorts if doing so would result in their aggregate ownership exceeding 29.9% of the Company's outstanding shares. For so long as the Covered Entities remain in compliance with the Agreement, MGM Resorts has agreed not to take defensive measures or actions designed to be adverse to the Covered Entities.
 

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