SCHEDULE: IAC Boosts MGM Stake to 26.1% with $37M Share Purchase

IAC Inc. increased its beneficial ownership in MGM Resorts International to 26.1% by purchasing an additional 1 million shares for approximately $37.2 million.

Summary

• IAC Inc. filed Amendment No. 6 to its Schedule 13D, reporting an increased stake in MGM Resorts International.
• The reporting person, IAC Inc., acquired an additional 1,000,000 shares of MGM common stock.
• These purchases occurred on March 23, 2026, and March 24, 2026, through open market transactions.
• The total purchase price for these shares was approximately $37,231,830, including brokerage commissions.
• Following these transactions, IAC Inc. beneficially owns 66,822,350 shares of MGM Resorts International.
• This represents approximately 26.1% of MGM's common stock outstanding.
• The percentage is calculated based on 255,828,519 shares outstanding as of February 9, 2026, as reported in MGM's Annual Report on Form 10-K for the period ended December 31, 2025.

Sentiment

Score: 8

Explanation: StockSavvy.ai views this as a strong positive signal, as a major strategic investor like IAC Inc. is increasing its stake, indicating high confidence in MGM's long-term value and strategic direction.

Positives

• IAC Inc.'s increased stake demonstrates continued confidence in MGM Resorts International's future prospects and valuation.
• The additional investment by a significant shareholder like IAC can be viewed positively by the market, signaling potential long-term value.

Future Outlook

The filing does not contain explicit forward-looking statements or guidance from MGM or IAC regarding future performance or strategy, beyond IAC's continued investment.

Management Comments

• "After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct." (Signed by Kendall Handler, Executive Vice President & Chief Legal Officer of IAC Inc.)

Industry Context

StockSavvy.ai notes that a significant increase in a major shareholder's stake, particularly by an investment-focused entity like IAC, often signals a belief in the long-term value and strategic direction of the company within its industry. In the highly competitive gaming and hospitality sector, such a move by a large investor can be interpreted as a vote of confidence in MGM's market position and future growth potential, especially considering the company's ongoing share repurchase program.

Comparison to Industry Standards

• This filing primarily details an ownership change rather than operational results, so direct comparisons to industry-specific operational benchmarks (e.g., revenue per available room, gaming win) are not applicable here.
• However, IAC's continued accumulation of MGM shares, now reaching 26.1%, positions it as a substantial strategic investor, similar to how other activist or strategic funds might build significant positions in companies like Caesars Entertainment or Wynn Resorts, often aiming for influence or long-term value creation.

Stakeholder Impact

• Shareholders: Existing shareholders may view IAC's increased stake as a positive indicator of future share price appreciation and management confidence.
• Management: The increased stake by a significant investor like IAC could lead to greater oversight or influence on strategic decisions.

Next Steps

• MGM Resorts International will continue its share repurchase program from time to time.

Key Dates

Recommendation

IAC Inc.'s decision to significantly increase its stake in MGM Resorts International, now holding 26.1% of outstanding shares, represents a strong vote of confidence from a sophisticated strategic investor. This substantial investment, totaling over $37 million, suggests that IAC sees considerable untapped value and future growth potential in MGM. For a seasoned investor, this action by a major shareholder often signals a compelling long-term opportunity, making MGM a strong buy candidate.

Keywords

MGM Resorts International, IAC Inc., Schedule 13D, Beneficial Ownership, Share Purchase, Stock Acquisition, Gaming Industry, Hospitality, Investment, Stake Increase