Regulator Defers MGM Stakeholder's Nevada Gaming License By 1 Month

Nevada Gaming Commission shelved MGM Resorts International MGM stakeholder Barry Diller’s licensing by a month until an April commission meeting, the Wall Street Journal reports.
The move coincided with insider-trading investigations by federal authorities into his share purchases of Activision Blizzard Inc ATVI.
In 2020, Diller and his internet holding company, IAC/InterActiveCorp IAC, admitted spending over $1 billion for a 12% stake in MGM to tap the budding online gambling industry in the U.S.
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IAC’s stake in the casino operator has since grown to about 14%.
IAC admitted that the matter was “simply delayed” and looked to a clean chit concerning Diller and IAC.
Price Action: MGM shares traded lower by 0.41% at $41.77 in the premarket on the last check Friday.