Home Featured IAC/InterActive Bets $1 Billion on 12% MGM Resorts Stake

IAC/InterActive Bets $1 Billion on 12% MGM Resorts Stake

by Bioreports
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IAC/InterActiveCorp., flush with cash from the recent spinoff of online dating site Match.com, on Monday said it has spent just over $1 billion to build a 12% stake in MGM Resorts International, and that it plans to work with the casino operator to expand its online-gambling business.

The internet holding company run by billionaire Barry Diller said it plans to be a minority investor and a long-term strategic partner to MGM, adding that it would “welcome the opportunity to contribute to MGM’s success in any way that MGM’s…

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