Posted 9/18/2023, 12:30:00 AM
MGM Resorts faces major disruptions, millions in lost revenue from ongoing cyberattack
- MGM Resorts could be losing $4.2M-$8.4M daily revenue and $1M daily cash flow due to cyberattack, per analyst
- Attack entered 2nd week Sun; analyst estimates MGM generates $42M revenue, $8M cash flow daily
- Complaints of unpaid employees, non-functioning websites, slow systems, manual payments
- Grocery industry conference with 5K attendees still on for Tues at MGM despite issues
- Analyst Attack a "one-time, largely insurable event" that shouldn't have long-term impact if short-lived