Barry Diller’s $12.4 billion offer for MGM is a big bet that Vegas is back

AI Summary

Barry Diller has made a $12.4 billion offer to acquire MGM, betting on the recovery of Las Vegas tourism and its competitive sports-betting market. Analysts see potential improvement despite previous uneven tourism trends.

Las Vegas has suffered from uneven tourism trends as well as sports-betting competition, but analysts say there’s reason to believe things are looking up for Sin City.