MGM Resorts is trading higher following news that the law firm Bleichmar Fonti and Auld LLP is investigating Barry Diller's bid to acquire the company at a price of $48.30 per share. This potential M&A activity appears to be the primary driver of the stock's movement, overshadowing recent operational updates such as the company's new culinary partnerships for the upcoming Formula 1 Las Vegas Grand Prix and the launch of a new BetMGM advertising campaign featuring Jon Hamm. The stock's performance also aligns with a broader upward trend in the gambling and resorts sector, which saw notable gains in peers like DraftKings and PENN Entertainment during the regular session.