The media and technology company’s chairman and senior executive Barry Diller and CEO Joey Levin, will both join MGM’s board, taking the total number of members up to 14.
Earlier this month, IAC purchased a 12% stake in MGM for approximately $1bn. Diller stated that the operator’s potential for digitalization and expansion in the US sports betting scene through GVC Holdings joint venture Roar Digital, made the operator an attractive investment.
Before starting his current role, Diller served as CEO of IAC from 1995 until 2010 and was CEO of media giant Fox from 1984 to 1992, helping to create the Fox Broadcasting Company.
Levin served in various roles at IAC after joining in 2003, before becoming CEO in 2015 and also holds chairman roles at Match Group and ANGI Homeservices, and sits on the board of directors at Turo.
MGM Resorts CEO Bill Hornbuckle, said: “We are excited to collaborate with IAC. We believe that Barry and Joey bring the knowhow and vision to help us marry our online and resort-based experiences and build brand loyalty to increase our wallet share in each area.
“We could not ask for more talented people to bring this expertise to our board room and all of our shareholders will benefit from their presence.”