Las Vegas Casinos Lose $100 Million from Cyberattack

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The cyberattack that hit MGM Resorts in Las Vegas in September created a $100 million hit on operations, a Securities and Exchange Commission filing reported.  

In a third-quarter financial report, the company that operates Mandalay Bay and The Bellagio reported that $10 million of those losses went to costs for technology consultants, legal fees and other third-party advisors,  Cybersecurity Dive reported. 

“While we experienced disruptions at some of our properties, operations at our affected properties have returned to normal, and the vast majority of our systems have been restored,” MGM Resorts President and CEO Bill Hornbuckle wrote in an open letter to customers. 

Hotel occupancies fell to 88 percent during September when the attack on the company’s website and mobile app occurred. The attack compromised customer data tracking back to 2019 including phone numbers, emails, dates of birth, driver’s license numbers and for some people social security and passport numbers. 

While the $100 million loss appears massive, the company is expected to generate almost $5 billion annually. 

Dave Lubach is executive editor of the facilities market.