{"id":320113,"date":"2024-05-16T16:50:07","date_gmt":"2024-05-16T21:50:07","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=320113"},"modified":"2024-05-17T09:13:51","modified_gmt":"2024-05-17T14:13:51","slug":"ngc-awards-full-gaming-license-to-mgm-investor-diller","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/ngc-awards-full-gaming-license-to-mgm-investor-diller\/","title":{"rendered":"IAC Boss Diller Lands Full Nevada Gaming License"},"content":{"rendered":"

IAC\/InterActiveCorp (NASDAQ: IAC) Chairman Barry Diller earned an unrestricted Nevada gaming license Thursday after the Nevada Gaming Commission (NGC) voted 4-1 in favor of granting him that status.<\/p>\n

\"IAC
IAC Chairman Barry Diller at a movie premier in 2019. The Nevada Gaming Commission (NGC) granted him a full license in the state. (Image: Monica Schipper\/Getty Images)<\/figcaption><\/figure>\n

That ends a more than two-year saga in which Diller held a restricted license due to a federal probe into allegations he may have committed insider trading in options contracts on video game publisher Activision Blizzard (NASDAQ: ATVI) in advance of Microsoft (NASDAQ: MSFT)\u00a0 announcing a $68.7 billion<\/a> takeover offer for that company.<\/p>\n

\n

The Securities and Exchange Commission (SEC) investigated options trades placed by Diller, his stepson Alexander von Furstenberg, and entertainment mogul David Geffen. That probe prompted the NGC to grant Diller a restricted license, but two weeks ago, the SEC closed its investigation. That paved the way for Nevada regulators to reexamine Diller\u2019s licensing status in the largest gaming state.<\/p>\n<\/div>\n

He appeared before the NGC on Thursday via Zoom from New York.<\/p>\n

Why Diller Needs Nevada Licensing<\/h2>\n

While Diller isn\u2019t involved in day-to-day casino operations in Nevada, he needs to be licensed by the state because IAC\/InterActiveCorp is the largest shareholder in MGM Resorts International (NYSE: MGM).<\/p>\n

As IAC CEO Joey Levin recently noted in his first-quarter letter to investors, the conglomerate now owns 20% of MGM shares outstanding<\/a>, easily making it the largest investor in the gaming company. Under Nevada law, outside investors who come to control 5% or more of publicly traded gaming entities based in the state must be licensed. NGC commissioners are satisfied with the results of the SEC inquiry and appeared enthusiastic in granting Diller unrestricted licensing.<\/p>\n

You\u2019re eminently qualified. Serving on the Coca-Cola board and others, you have experience that very few people have. Good for MGM to have you on the board,\u201d said Commissioner Brian Krolicki at the Thursday meeting.<\/p><\/blockquote>\n

Both Diller and Levin are members of MGM\u2019s board of directors. Commissioner Rosa Solis-Rainey was the NGC member who opposed full licensing of Diller, noting that the SEC could restart its insider trading investigation. Should that happen, the onus would shift to the NGC in terms of potentially revoking his license.<\/p>\n

\u201cI wish there was a way to give him a nonrestricted license with some caveat that if there\u2019s any settlement or prosecution, he comes before us again. I in no way want to impugn his character or history of service to communities or his businesses,\u201d she said.<\/p>\n

Other Commissioners Supportive of Diller<\/h2>\n

Perhaps helpful to Diller\u2019s cause is the point that IAC has availed itself to be a long-term investor in MGM and one that\u2019s not taking a potentially controversial activist stance. August marks the four-year anniversary of IAC buying MGM shares<\/a>.<\/p>\n

\n

Several months later, IAC added to that position. Those investments, coupled with the Bellagio operator’s prolific share repurchases, have helped IAC become the biggest investor in the casino giant, and that appears to be just fine with the NGC.<\/p>\n<\/div>\n

NGC Chair Jennifer Togliatti praised Diller for being forthright in his testimony while Commissioner Abbi Silver — the newest member of the NGC — said Diller should be licensed without conditions and that she was satisfied with comments by the SEC.<\/p>\n","protected":false},"excerpt":{"rendered":"

IAC\/InterActiveCorp (NASDAQ: IAC) Chairman Barry Diller earned an unrestricted Nevada gaming license Thursday after the Nevada Gaming Commission (NGC) voted 4-1 in favor of granting him that status. That ends a more than two-year saga in which Diller held a restricted license due to a federal probe into allegations he may have committed insider trading […]<\/p>\n","protected":false},"author":46,"featured_media":196912,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,81886,13592],"tags":[81897,81903,23,81895],"acf":[],"yoast_head":"\nNGC Awards Full Gaming License To MGM Investor Diller<\/title>\n<meta name=\"description\" content=\"IAC Boss Diller Lands Full Nevada Gaming License.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/ngc-awards-full-gaming-license-to-mgm-investor-diller\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NGC Awards Full Gaming License To MGM Investor Diller\" \/>\n<meta property=\"og:description\" content=\"IAC Boss Diller Lands Full Nevada Gaming License.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/ngc-awards-full-gaming-license-to-mgm-investor-diller\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-16T21:50:07+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-17T14:13:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/01\/BD.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1296\" \/>\n\t<meta property=\"og:image:height\" content=\"730\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/ngc-awards-full-gaming-license-to-mgm-investor-diller\/\",\"url\":\"https:\/\/www.casino.org\/news\/ngc-awards-full-gaming-license-to-mgm-investor-diller\/\",\"name\":\"NGC Awards Full Gaming License To MGM Investor Diller\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/ngc-awards-full-gaming-license-to-mgm-investor-diller\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/ngc-awards-full-gaming-license-to-mgm-investor-diller\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/01\/BD.jpg\",\"datePublished\":\"2024-05-16T21:50:07+00:00\",\"dateModified\":\"2024-05-17T14:13:51+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"IAC Boss Diller Lands Full Nevada Gaming License.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/ngc-awards-full-gaming-license-to-mgm-investor-diller\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/ngc-awards-full-gaming-license-to-mgm-investor-diller\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/ngc-awards-full-gaming-license-to-mgm-investor-diller\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/01\/BD.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/01\/BD.jpg\",\"width\":1296,\"height\":730,\"caption\":\"IAC Chairman Barry Diller at a movie premier in 2019. The Nevada Gaming Commission (NGC) today granted him a full license in the state. (Image: Monica Schipper\/Getty Images)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/ngc-awards-full-gaming-license-to-mgm-investor-diller\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Financial\",\"item\":\"https:\/\/www.casino.org\/news\/financial\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"IAC Boss Diller Lands Full Nevada Gaming License\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.casino.org\/news\/#website\",\"url\":\"https:\/\/www.casino.org\/news\/\",\"name\":\"Casino.org\",\"description\":\"Latest Casino and Gaming News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.casino.org\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\",\"name\":\"Todd Shriber\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"caption\":\"Todd Shriber\"},\"description\":\"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.\",\"sameAs\":[\"https:\/\/muckrack.com\/todd-shriber\",\"https:\/\/www.linkedin.com\/in\/toddshriber\/\",\"https:\/\/x.com\/etfgodfather\"],\"url\":\"https:\/\/www.casino.org\/news\/author\/todd-shriber\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"NGC Awards Full Gaming License To MGM Investor Diller","description":"IAC Boss Diller Lands Full Nevada Gaming License.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.casino.org\/news\/ngc-awards-full-gaming-license-to-mgm-investor-diller\/","og_locale":"en_US","og_type":"article","og_title":"NGC Awards Full Gaming License To MGM Investor Diller","og_description":"IAC Boss Diller Lands Full Nevada Gaming License.","og_url":"https:\/\/www.casino.org\/news\/ngc-awards-full-gaming-license-to-mgm-investor-diller\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2024-05-16T21:50:07+00:00","article_modified_time":"2024-05-17T14:13:51+00:00","og_image":[{"width":1296,"height":730,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/01\/BD.jpg","type":"image\/jpeg"}],"author":"Todd Shriber","twitter_card":"summary_large_image","twitter_creator":"@etfgodfather","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Todd Shriber","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/ngc-awards-full-gaming-license-to-mgm-investor-diller\/","url":"https:\/\/www.casino.org\/news\/ngc-awards-full-gaming-license-to-mgm-investor-diller\/","name":"NGC Awards Full Gaming License To MGM Investor Diller","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/ngc-awards-full-gaming-license-to-mgm-investor-diller\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/ngc-awards-full-gaming-license-to-mgm-investor-diller\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/01\/BD.jpg","datePublished":"2024-05-16T21:50:07+00:00","dateModified":"2024-05-17T14:13:51+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85"},"description":"IAC Boss Diller Lands Full Nevada Gaming License.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/ngc-awards-full-gaming-license-to-mgm-investor-diller\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/ngc-awards-full-gaming-license-to-mgm-investor-diller\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/ngc-awards-full-gaming-license-to-mgm-investor-diller\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/01\/BD.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/01\/BD.jpg","width":1296,"height":730,"caption":"IAC Chairman Barry Diller at a movie premier in 2019. The Nevada Gaming Commission (NGC) today granted him a full license in the state. (Image: Monica Schipper\/Getty Images)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/ngc-awards-full-gaming-license-to-mgm-investor-diller\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Financial","item":"https:\/\/www.casino.org\/news\/financial\/"},{"@type":"ListItem","position":3,"name":"IAC Boss Diller Lands Full Nevada Gaming License"}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/news\/#website","url":"https:\/\/www.casino.org\/news\/","name":"Casino.org","description":"Latest Casino and Gaming News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85","name":"Todd Shriber","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","caption":"Todd Shriber"},"description":"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.","sameAs":["https:\/\/muckrack.com\/todd-shriber","https:\/\/www.linkedin.com\/in\/toddshriber\/","https:\/\/x.com\/etfgodfather"],"url":"https:\/\/www.casino.org\/news\/author\/todd-shriber\/"}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/320113"}],"collection":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/users\/46"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/comments?post=320113"}],"version-history":[{"count":4,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/320113\/revisions"}],"predecessor-version":[{"id":320165,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/320113\/revisions\/320165"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media\/196912"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media?parent=320113"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/categories?post=320113"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/tags?post=320113"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}