Barry Diller's People Inc withdrew its $18 billion takeover bid for MGM Resorts International, citing that the deal's components weren't coming together as hoped. People Inc will retain its 27% stake in MGM Resorts, which rejected the offer and intends to remain independent while developing its online sportsbook BetMGM and international properties.
Ticket-in, ticket-out (TITO) is a casino gaming technology that prints barcoded tickets instead of dispensing coins, allowing players to redeem them for cash at kiosks. Developed through a consortium led by MGT with manufacturers like IGT and Bally Gaming, the system was first successfully trialed at the Fiesta Hotel & Casino in Las Vegas in 2000 and approved by Nevada regulators. TITO reduces cash handling, eliminates hopper fills, and enables multi-denomination machines, though it has drawbacks including ticket loss and potential money laundering concerns.