Money Control Place
  • Politics
  • Business
  • Stocks
  • Investing
  • Politics
  • Business
  • Stocks
  • Investing

Money Control Place

Business

Cyberattack cost MGM Resorts about $100 million, Las Vegas company says

by October 9, 2023
October 9, 2023
Cyberattack cost MGM Resorts about $100 million, Las Vegas company says

The criminal cyberattack on MGM Resorts in Las Vegas last month resulted in the company’s losing around $100 million, it said in a filing Thursday evening with the Securities and Exchange Commission.

The admission is a rare insight into the giant sums that major companies can lose when they fall victim to significant hacks.

MGM, whose prominent casinos along the Las Vegas Strip include the Bellagio and Mandalay Bay, were hacked last month. The company said it deliberately shut down a number of services “to mitigate risk to customer information.”

The shutdown had severe impacts for MGM. Some hotel customers couldn’t use key cards to enter their rooms. Employees were locked out of corporate emails for days. The tech news website 404 Media found entire sections of slot machines at MGM casinos roped off.

The fallout stood in sharp contrast what happened to rival Caesars Entertainment, which disclosed that it had been hacked around the same time. Caesars indicated in its SEC filing that it may have paid the hackers to go away.

In an open letter also published Thursday evening, MGM CEO Bill Hornbuckle said that “the vast majority of our systems have been restored,” adding, “We also believe that this attack is contained.”

Even though those systems were shut down, the hackers did access some customer information. While customer bank account information and credit card numbers appear untouched, the hackers stole some customers’ personal information, including names, driver’s license numbers and Social Security numbers, Hornbuckle said.

This post appeared first on NBC NEWS
0
FacebookTwitterGoogle +Pinterest
previous post
Savings simulator: Is your money beating inflation?
next post
Walmart says users of weight loss drugs are buying less food

Related Posts

You have a month left to get your...

August 1, 2023

Tesla asks shareholders to vote again on Musk’s...

April 18, 2024

Rite Aid shutting down 27 more locations, bringing...

June 24, 2024

Bank of America CEO says U.S. consumers and...

May 31, 2024

Autoworkers go on strike at plants at each...

September 15, 2023

Casino mogul Steve Wynn to pay $10M, cut...

July 28, 2023

Data center boom in world’s largest market isn’t...

May 3, 2025

Home foreclosures are rising nationwide, with Florida, California...

June 12, 2023

Are consumers pulling back on spending? It depends...

May 21, 2024

U.S. gas prices hit 8-month high

July 28, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • Breakout Watch: One Stock in Each Sector to Watch Now

    • Small Caps Are Rotating In — Here’s Why It Matters

    • Want Faster, Lower Risk Trades? Use This Setup

    • The Seasonality Trend Driving XLK and XLI to New Highs

    • Copper Soars to All-time High as Trump Unveils 50 Percent Tariff on Imports

    • Apollo Silver; Right Assets, Right Management and Right Time

    Categories

    • Business (1,283)
    • Investing (2,658)
    • Politics (3,699)
    • Stocks (1,709)
    • Uncategorized (20)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: MoneyControlPlace.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 moneycontrolplace.com | All Rights Reserved