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Barry Diller’s People Inc. has proposed buying the remaining shares of MGM Resorts International it does not already own, valuing the Las Vegas casino and resort operator at more than $18 billion.

Barry Diller, whose company already owns a 26% share of casino giant, said MGM’s potential isn’t being fully realized in the public markets.

People Inc. offers to acquire MGM Resorts for $48.30 a share in cash, valuing the casino operator at roughly $18 billion.

Media mogul Barry Diller's People Inc said on Monday it has proposed to buy MGM Resorts , valuing ‌the casino operator at more than $18 billion, marking the industry's second takeover bid in a week as it grapples with slowing consumer demand.

MGM is the largest publicly traded Las Vegas casino owner, but it may not stay that way. On Monday, People Inc. offered to buy MGM for $18 billion.

Barry Diller is making his next big move as People Inc. (previously IAC) submitted a non-binding proposal to acquire control of MGM Resorts International. The plan would be to buy outstanding MGM shares that People doesn't already own and take the publicly-traded company private.

Less than a week after a multibillion-dollar deal for one of the country’s largest casino operators was announced, another gambling giant could soon be acquired. Billionaire media mogul Barry Diller’s People Inc.