Las Vegas headquartered MGM Resorts International has welcomed an announcement by IAC/InterActiveCorp the media and technology company founded and led by businessman Barry Diller, which has made a significant investment in the group.
IAC/InterActiveCorp, which operates as a holding company, is headquartered in New York City and has business operations and satellite offices worldwide, as well as boasting five operating segments and more than 150 brands and products.
“We could not be more excited to welcome IAC and Mr. Diller as an investor in MGM Resorts. Mr. Diller and Joey Levin, CEO of IAC, bring vast experience in both entertainment and online commerce and we will take full advantage of their experience,” said Paul Salem, MGM Resorts chairman of the board of directors.
“IAC’s family of brands and digital expertise are a great complement to the direction MGM Resorts has been taking both in leveraging our digital assets to enhance our guests’ experience and building a leading igaming and sports betting business in BetMGM. We welcome IAC as a long-term strategic partner and intend to invite them to join our board of directors.”
Data-driven, digital and customer-centric innovations are a key principle of the MGM 2020 plan announced last year, and MGM Resorts has lauded IAC’s recognition of the ‘tremendous value creation potential’.
“IAC’s expertise in growing and expanding brands online is a natural fit for our focus on enhancing the resort experience through curated and personalised offerings, as well as digital enhancements in sports betting and online gaming,” added MGM Resorts’ CEO and president Bill Hornbuckle.
“We appreciate that they share our long-term strategic vision for growth and maximizing value for our shareholders. We welcome their collaboration and are excited at the possibilities it will bring.”