MGM Resorts stock rises after Barry Diller takeover talks
By Dan Whitaker, Casino News Editor
In the United States, MGM Resorts stock rose in pre-market trading after a news report on Friday suggested the casino operator remains locked in takeover talks with media billionaire Barry Diller. The report identified Diller as the People Inc CEO and the founder of Fox Broadcasting Company, and said the coverage of renewed discussions coincided with early trading movement in the company’s shares.
The same report said Diller tabled an $18 billion bid to boost his firm’s holdings in MGM Resorts to 51%. The combination of a large bid and ongoing takeover talks has put the operator’s shares in focus ahead of regular market hours, and market participants will likely watch for any formal announcements or shifts in ownership interest.
Player angle: Takeover talks and a sizable bid for a major operator can signal potential changes to ownership or strategy that players tracking casino brands should follow. The details live in our fast payout casinos guide.
Reported by CasinoBeats.