![]() ![]() Diller and IAC CEO Levin described the bet as one on online gaming revenue. IAC - which backs assets like the Angi digital marketplace, Dotdash Meredith magazines like People and InStyle, and content brands like Ask and news sites like The Daily Beast - disclosed a buy-in to MGM Resorts two years ago, in the middle of pandemic-era shutdowns for resorts and casinos.Īt the time, IAC accumulated a 12 percent stake in the company for about $1 billion, in August 2020. The Best Black Friday Deals on Hulu, Paramount+, Prime Video and More Streaming Services ![]() The move could be an opportunistic buy, given that share prices have ranged between $27-$35 in July and August, down from $45-$48 at the beginning of the year. 11-23, IAC purchased shares in MGM Resorts totaling about $41.7 million, increasing its stake in the company to 16.5 percent, the Las Vegas-based hospitality and betting firm disclosed in a filing with the Securities and Exchange Commission on Friday. IAC, the digital media and internet services company led by mogul Barry Diller, has upped the ante on MGM Resorts International, eying the growth of the online gambling and sports betting market.īetween Aug.
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