Barry Diller’s gambling license is delayed by Nevada regulator

The top gambling regulator in Nevada on Thursday delayed MGM Resorts International
MGM,
-0.55%
stakeholder Barry Diller’s licensing after federal authorities launched insider-trading investigations into his share purchases of Activision Blizzard Inc.
ATVI,
-0.29%.

Nevada Gaming Commission Chairwoman Jennifer Togliatti in a public meeting ordered that Diller’s application to be in the casino industry undergo “further fact-finding and investigation” by the state’s Gaming Control Board. The board’s staff investigates the backgrounds of executives and major shareholders who must be licensed to operate in the state’s gambling industry. State regulators determine applicants’ “suitability” to be licensed, and their regulations are intended to prevent corruption or criminal activity in the industry.