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Barchart
Sushree Mohanty

Billionaire Barry Diller Is Making a $18M Bet on MGM Stock. Here’s What It Means for Investors.

MGM Barry Diller BetMGM PEOPLE

Billionaire media mogul Barry Diller has made a bold move that could reshape one of the biggest names in the casino industry. Through his company, People (PPLI), Diller has offered to buy the shares of MGM Resorts International (MGM) that he does not already own, valuing the casino giant at roughly $18 billion, including debt. The deal looks pretty straightforward, as Diller believes MGM is worth more than the market currently recognizes.

But for investors, the crucial question now is what happens if the deal goes through and what if it doesn’t.

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