MGM Resorts International bought by Interactive Corp: $179.53m-August 6,7
MGM Resorts International jumped 13.5% for the biggest gain in the S&P 500 after IAC disclosed that it had built a roughly $1 billion stake in the company
Like other businesses that depend on people feeling safe enough to travel, MGM Resorts has been pummeled by the pandemic, and its shares more than halved in March alone. Barry Diller, IAC’s chairman, called it a “once in a decade” opportunity, citing its potential to move business online.
https://www.marketscreener.com/MGM-RESORTS-INTERNATIONAL-13513/news/MGM-Resorts-International-Stocks-drift-on-Wall-Street-S-P-500-within-1-of-record-31093010/
MGM Resorts International is one of the world's leading casino operators. At the end of 2019, the group operates 18 casino hotels in the United States (16; Bellagio, MGM Grand Las Vegas, Mandalay Bay, The Mirage, Luxor, Excalibur, New York-New York, Monte Carlo, Circus Circus Las Vegas , etc.) and in China (MGM Macau and MGM Cotai). Additionally, the group owns 50% of CityCenter and 50% of Greater Victoria. Net sales break down by activity as follows:
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casinos operation (50.5%): 34,546 slot machines and 2,041 gaming tables operated at the end of 2019;
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hotel operation (18.8%): operation of 45,157 hotel rooms (including 31,098 hotel rooms in the United States);
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catering (16.6%);
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operation of leisure sites (11.5%);
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other (2.6%): mainly stores operation.
Net sales are distributed geographically as follows: the United States (77.5%) and China (22.5%). Number of employees : 70 000 people.
https://www.marketscreener.com/MGM-RESORTS-INTERNATIONAL-13513/company/
IAC (InterActiveCorp) is an American holding company that owns brands across 100 countries, mostly in media and Internet. The company is headquartered in New York City and incorporated in Delaware. Joey Levin, who previously led the company's search & applications segment, has served as Chief Executive Officer since June 2015. IAC was established in 1986 as Silver King Broadcasting Company, as part of a plan to increase viewership of the Home Shopping Network (HSN) by purchasing local television stations.
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https://en.wikipedia.org/wiki/IAC_(company)
Barry Diller-Chairman and Senior Executive, IAC; Chairman and Senior Executive, Expedia Group.
Barry Diller is the Chairman and Senior Executive of IAC and the Chairman and Senior Executive of Expedia, Inc. From 1995 to late 2010, Mr. Diller served as the Chairman and the Chief Executive Officer of IAC. Since December 1992, beginning with QVC, Mr. Diller has served as chief executive for a number of predecessor companies engaged in media and interactivity prior to the formation of IAC. From October 1984 to April 1992, Mr. Diller served as Chairman and Chief Executive Officer of Fox, Inc. and was responsible for the creation of Fox Broadcasting Company in addition to Fox's motion picture operations. Before joining Fox, Mr. Diller served for 10 years as the Chairman and Chief Executive of Paramount Pictures Corporation. In March 1983, in addition to Paramount, Mr. Diller became President of the conglomerate's newly formed Entertainment and Communications Group, which included Simon & Schuster, Inc., Madison Square Garden Corporation and SEGA Enterprises, Inc. Prior to joining Paramount, Mr. Diller served as Vice President of Prime Time Television for ABC Entertainment. His broadway credits include To Kill A Mockingbird; The Iceman Cometh; Carousel; Three Tall Women; A Doll’s House, Part 2; The Humans; and Betrayal. Through his foundation Mr. Diller has supported projects for Roundabout Theatre Company, Signature Theatre, The Public Theater, and Motion Picture & Television Fund, and is creating Little Island, a park and performance center in the Hudson River. He serves on the board of The Coca-Cola Company. He is also a member of The Business Council, and serves on the Dean’s Council of The New York University Tisch School of the Arts, the Board of Councilors for the School of Cinema-Television at the University of Southern California and the Advisory Board for the Peter G. Peterson Foundation.
https://www.iac.com/about/leadership/iac-senior-management/barry-diller
https://www.finviz.com/insidertrading.ashx?oc=1800227&tc=7&b=2
https://ir.iac.com/financial-information/sec-filings