MGM Resorts Signs Voting Deal with Billionaire Media Mogul Barry Diller

Global casino leader MGM Resorts International has signed a voting agreement with its largest shareholder, Barry Diller, and his company, IAC Inc, meaning the billionaire media mogul would have a much bigger say in the company’s future.

What Does This Deal Mean?

Under the voting agreement, Diller and IAC have committed to casting votes for any shares they beneficially own beyond 25.73% of the company’s total voting power in proportion to how other shareholders vote. This arrangement applies whenever a matter is put to a vote at either annual or special shareholder meetings. In practice, this allows Diller and IAC to vote freely on up to 25.73% of their holdings, while requiring any shares above that threshold to be voted proportionally, thereby limiting their overall influence.

In exchange, Diller and IAC will retain the right to have two representatives on the company’s board of directors at all times. It should be noted that the voting restrictions will be removed if Diller relinquishes his leadership roles at IAC or no longer maintains control of at least one-third of the company.

The deal comes as MGM Resorts is further expanding its global presence by building new venues. One of their most important projects is the casino in Osaka, Japan, which started construction last year and is expected to open sometime in 2030. Officials have claimed it could overshadow some of East Asia’s most established powerhouses, such as Las Vegas Sands’ Marina Bay Sands in Singapore.

Diller’s Gamble with MGM Is Paying Off

Diller, who is the co-founder of Fox Broadcasting Company, first acquired a 12% stake in MGM for $1 billion in 2020, an investment he has since described as a “forever asset.” Since then, he has served on MGM’s board of directors alongside IAC chief executive Joey Levin, with both also holding positions on the company’s Finance Committee. The most recent development comes after recent reports that Diller and IAC boosted their stake in MGM Resorts by approximately one million shares.

All of this involvement has paid off quite well for Diller, as MGM’s share price has generally trended upward, despite some volatility earlier in the year, and is currently up 17% over the past six months.

According to its full-year 2025 financial report released in February, the Las Vegas flagship operator, Macau concessionaire, and 50% owner of BetMGM reported a 6% increase in Q4 revenue to $4.6 billion. This performance translated into net income of $294 million for the quarter, compared with $157 million in Q4 2024.In other news about MGM, the company’s New York establishment, the Empire City Casino, celebrated Women’s History Month recently by shedding light on some of the most important achievements in fostering a culture of equality.