Multiple-input multiple-output (MIMO) radars with widely separated transmitters and receivers are useful to discriminate a target from clutter using the spatial diversity of the scatterers in the illuminated scene. We consider the detection of targets in compound-Gaussian clutter, describing heavy-tailed clutter distributions fitting high-resolution and/or low-grazing-angle radars in the presence of sea or foliage clutter. First we introduce a data model using the inverse gamma distribution to represent the clutter texture. Then we apply the parameter-expanded expectation-maximization (PX-EM) algorithm to estimate the clutter texture and speckle as well as the target parameters. We develop a statistical decision test using these estimates and demonstrate its statistical characteristics. Based on the statistical characteristics of this test, we propose an algorithm to adaptively distribute the transmitted energy among the transmitters and maximize the detection performance. We demonstrate the advantages of the MIMO setup and adaptive energy allocation in target detection in the presence of compound-Gaussian clutter using Monte Carlo (MC) simulations.