MGM suffered from a 10-day cyberattack last month that’s set to cost the company more than $100 million for the third quarter. Despite the financial loss, MGM reportedly refused to pay ransom…
NYC casino race could be upended by Las Vegas bookie scandal: sourcesThe 10-day cyberattack that crippled MGM Resorts’ operations is reportedly set to cost the hospitality behemoth more than $100 million, according to a regulatory filing Thursday.
MGM’s decision not to pay ransom to end the cyberattack was guided by the Federal Bureau of Investigation, which doesn’t support coughing up requested payments from hackers, insiders told The Journal.warns that agreeing to pay ransom still doesn’t guarantee that a company will recover all of its data, and even encourages hackers to target other deep-pocketed companies.
MGM, meanwhile, experienced a tidal wave of service interruptions that are set to have a nine-figure financial impact on adjusted property earnings before interest, taxes, depreciation, amortization and rent for its resorts across the nation — 12 of which are on the Las Vegas Strip alone. Aside from financial losses, occupancy rates took a hit at MGM in September, down 88% last month as the hospitality behemoth reeled from the cyberattack, and down 93% from last September, per the news site.
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Cyberattack cost MGM Resorts about $100 million, Las Vegas company saysKevin Collier is a reporter covering cybersecurity, privacy and technology policy for NBC News.
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Cyberattack at MGM Resorts expected to cost casino giant $100 millionThe cybersecurity attack at MGM Resorts last month is expected to cost the casino giant more than $100 million, the Las Vegas-based company says
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Cyberattack at MGM Resorts expected to cost casino giant $100 millionThe cybersecurity attack at MGM Resorts last month is expected to cost the casino giant more than $100 million, the Las Vegas-based company says. MGM CEO Bill Hornbuckle says no customer bank account numbers or payment card information was compromised in the incident. But hackers stole other personal information — including names, driver’s license numbers and social security numbers belonging to some customers who did business with MGM prior to March of 2019. Beyond the casino world, Clorox also disclosed a cybersecurity attack recently. The maker of bleach and other household products says the attack has caused wide-scale disruption of operations — and predicts a significant fall in sales for the first quarter of 2024.
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Cyberattack at MGM Resorts expected to cost casino giant $100 millionThe cybersecurity attack at MGM Resorts last month is expected to cost the casino giant more than $100 million, the Las Vegas-based company says.
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MGM sees $100 million cost from recent cybersecurity attackCybersecurity insurance likely to cover expenses, MGM says
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