MGM Resorts Signs Partnership with Barry Diller

(AsiaGameHub) –   Global casino leader MGM Resorts International has entered into a voting pact with its largest shareholder, Barry Diller, and his company, IAC Inc, a move that gives the billionaire media mogul far greater input over the company’s future direction.

What Does This Agreement Entail?

Per the terms of the voting pact, Diller and IAC have committed to casting votes for any shares they beneficially hold beyond 25.73% of the company’s total voting power in alignment with how other shareholders cast their ballots. This arrangement applies to all matters put to a vote at both annual and special shareholder meetings. In practical terms, this permits Diller and IAC to vote freely on up to 25.73% of their holdings, while any shares above that threshold must be voted proportionally, which places a cap on their overall voting influence.

In exchange, Diller and IAC will keep the permanent right to appoint two representatives to the company’s board of directors at all times. It is important to note that these voting restrictions will be lifted if Diller steps down from his leadership roles at IAC, or if he no longer maintains control of at least one-third of the firm.

This deal arrives as MGM Resorts continues to expand its global footprint via the construction of new venues. One of its most high-priority projects is the casino in Osaka, Japan, which broke ground last year and is scheduled to open at some point in 2030. Officials have stated the property could outperform some of East Asia’s most well-established leading casino hubs, such as Las Vegas Sands’ Marina Bay Sands in Singapore.

Diller’s Bet on MGM Is Delivering Strong Returns

Diller, co-founder of the Fox Broadcasting Company, first purchased a 12% stake in MGM for $1 billion in 2020, an investment he has since referred to as a “forever asset.” Since that time, he has served on MGM’s board of directors alongside IAC chief executive Joey Levin, with both also holding seats on the company’s Finance Committee. This latest development comes after recent reports that Diller and IAC increased their stake in MGM Resorts by roughly one million shares.

This deep involvement has worked out very favorably for Diller, as MGM’s share price has followed a general upward trend despite some fluctuations earlier in the year, and has risen 17% over the past six months to date.

According to its full-year 2025 financial report released in February, the Las Vegas-based flagship operator, Macau concessionaire, and 50% owner of BetMGM posted a 6% rise in Q4 revenue to $4.6 billion. This performance translated to a quarterly net income of $294 million, compared to the $157 million recorded in Q4 2024. In separate MGM news, the company’s New York establishment, the Empire City Casino, recently celebrated Women’s History Month by highlighting key achievements it has made in fostering a culture of equality.