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Stocks•7 April 2026•

1 min read

IAC Adjusts MGM Resorts Stake and Enters New Voting Agreement

Key Facts

1IAC Inc. now holds approximately 65.8 million shares in MGM Resorts, representing 25.7% of outstanding shares.

2The new voting agreement stipulates that any shares exceeding a 25.73% stake must be voted proportionally with other stockholders.

3The agreement includes termination conditions, such as a drop in collective stake or failure to nominate IAC-designated directors.

IAC Inc. has filed an amended Schedule 13D regarding its significant stake in MGM Resorts International. The company currently holds approximately 65.8 million shares, representing 25.7% of MGM's outstanding stock. As part of the update, IAC entered into a new voting agreement with MGM and Barry Diller to formalize governance relations and cap voting influence. Under the terms, any shares held by IAC exceeding a 25.73% threshold must be voted proportionally with other stockholders. The agreement also outlines specific termination conditions, including potential drops in collective ownership or board nomination issues. This move is viewed as a regulatory clarification of the relationship between the major shareholder and the casino operator.

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