- June 17, 2021
- Posted by: Stratford Team
- Category: Business
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Joey Levin, chief executive officer of IAC/InterActiveCorp
Photo illustration: Staff; Patrick T. Fallon/Bloomberg
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IAC/InterActiveCorp
took a 12% stake in
MGM Resorts International
in August 2020, in the middle of the pandemic, when many restrictions were still in place.
IAC made the investment because it had “pretty high confidence” that MGM (ticker: MGM) “had enough capital to get to the other side,” and that it would bounce back from Covid lockdowns as people started traveling again, IAC Executive Officer
Joey Levin
says in an interview as part of Barron’s Investing in Tech conference Wednesday.
“When we invested in MGM, it was…
