IAC/InterActiveCorp. (IAC) announced its accumulation of a 12% interest in MGM Resorts International (MGM) for an aggregate of approximately $1 billion. IAC said it has a very long-term view of this investment and will be open to all the opportunities it presents.
"We will be a minority investor in MGM, but given the size of our financial commitment, we'd welcome the opportunity to contribute to MGM's success in any number of areas," said Joey Levin, CEO of IAC.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.