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

Social Security Administration to expand access to certain...

May 13, 2024

How America’s chief consumer-protection agency came into the...

February 14, 2025

Elon Musk and Sam Altman spar over Trump’s...

January 25, 2025

Walmart is using its own fintech firm to...

June 11, 2025

From tariffs to DOGE, what companies are saying...

February 19, 2025

Ex-employee charged with stealing $22M from Jacksonville Jaguars...

December 8, 2023

’60 Minutes’ producer leaves show, citing a loss...

April 23, 2025

Passengers sue Boeing and Alaska Airlines for $1...

March 5, 2024

UAW challenges Mercedes-Benz union vote, asks NLRB for...

May 27, 2024

Nationwide coordinated retail crime crackdown results in hundreds...

June 5, 2025

    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

    • S&P 500 Breaking Out Again: What This Means for Your Portfolio

    • Gold’s Meteoric Rise: Can the Price Break US$4,000 in 2025?

    • COB: Repayment of Promissory Note

    • Lo Herma Resource Drilling Timing Confirmed

    • Reinstatement to Quotation

    • Tariff Talks: Swiss Propose Investment in US Gold Refining

    Categories

    • Business (1,395)
    • Investing (2,975)
    • Politics (3,699)
    • Stocks (1,807)
    • 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