MGM Resorts International has experienced a cybersecurity issue, resulting in the shutdown of its main website and online reservations, prompting an investigation into the incident.
The cyber attack on MGM Resorts International, which began on Sunday, has caused significant disruptions and financial losses for the casino and hotel giant, with a Russia-linked hacker gang claiming responsibility for the breach.
MGM Resorts is facing a widespread outage lasting four days after a cyberattack by the hacking group Scattered Spider, with guests reporting disruptions to various services including ATMs, slot machines, digital key cards, and electronic payment systems, while entertainment giant Caesars Entertainment also suffered a cyberattack attributed to the same group, resulting in stolen data and a demanded ransom of $30 million.
MGM Resorts International could be losing millions of dollars in daily revenue and cash flow due to a cyberattack, with estimates ranging from $4.2 million to $8.4 million in revenue and $1 million in cash flow per day.
The cyberattack on MGM Resorts in Las Vegas resulted in the company losing approximately $100 million, highlighting the significant financial impact major companies face when targeted by hackers.
MGM Resorts International expects a $100 million hit to its third-quarter results due to a cyberattack that disrupted its operations, with additional costs of less than $10 million; the attack compromised customer data but did not include bank account or payment card information.
Cyberattack on MGM Resorts expected to cost at least $100 million, impacting the company's third-quarter earnings, but cyber insurance is expected to cover the financial impact; personal data of customers, including social security numbers and contact details, was stolen, but no evidence of compromised financial information or passwords; cybercrime group Scattered Spider claimed responsibility for the attack.
Multiple companies, including Johnson Controls, Clorox, and MGM Resorts, have recently experienced significant cybersecurity breaches, resulting in financial losses and operational disruptions, highlighting the ongoing issue of cyberattacks affecting various industries.
The recent data breach at MGM Resorts is projected to cost the casino giant over $100 million, making it potentially the most expensive ransomware attack on record.
MGM Resorts International has disclosed that the cyberattack it experienced in September will cost $100 million and result in adjusted property losses for its Las Vegas Strip Resorts and regional operations. The company will also provide identity protection and credit monitoring services to individuals whose personal information was compromised in the breach.
MGM Resorts International did not pay the ransomware attackers who breached its systems, resulting in the shutdown of hotels and casinos, with customer data including personal information potentially compromised, although no passwords, bank account numbers, or card details were believed to have been stolen.
