MGM Resorts cyberattack is anticipated to cost it $100 million

According to a regulatory filing, the casino giant MGM Resorts would likely lose more than USD 100 million as a result of the cybersecurity assault that occurred last month. In an effort to preserve data, MGM shut down a few casino and hotel computer systems at locations all around the United States after the incident, which was discovered on September 10. 

MGM said that reservations and casino floors in Las Vegas and other states were affected as customers shared stories on social media about not being able to make credit card transactions, obtain money from cash machines or enter hotel rooms. The company announced the end its 10-day computer shutdown on Sept. 20. 

“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. We also believe that this attack is contained,” MGM CEO Bill Hornbuckle said in a letter to customers. 

Hornbuckle added that no customer bank account numbers or payment card information was compromised in the incident. But hackers stole other personal information, including names, contact information, driver’s license numbers, Social Security numbers and passport numbers belonging to some customers who did business with MGM prior to March of 2019. 

MGM has no evidence that the hackers and criminals have used the data to commit account fraud or identity theft, Hornbuckel said, noting the company will also reach out to impacted consumers via email and offer free identity protection and credit monitoring services.