Money
Barry Diller Bids $48 for MGM to Capture Hidden Japan Casino Opportunity
All-In Podcast
All-In's Best Ideas Pitch Competition: 4 Investors Present Their Top Trades Live
What was said
"Yesterday, he actually bid for the company. Okay, so when I put the presentation together, the stock was about $37. It's now high 40s. He bid $48. Okay, I would not sell my shares to him. The reason is also, besides him buying the stock, the company's also been buying the stock."
Aaron Cowan revealed that Barry Diller submitted a surprise $48 per share bid for MGM Resorts just days before the conference, after accumulating 26% of the company. Cowan argues Diller is targeting MGM's undervalued Osaka casino license, which could generate $2 billion in EBITDA and drive the stock to $100-$150 per share. MGM has also repurchased half its float over six years.
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Attributed speaker claim
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- Programme
- All-In Podcast
- Episode
- All-In's Best Ideas Pitch Competition: 4 Investors Present Their Top Trades Live
- Clip time
- 4:06
- Original source
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