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

MGM Resorts International said late Thursday it has incurred nearly $100 million in costs related to a cyberattack it acknowledged in August 2018.

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The Las Vegas-based casino giant said it believes the incident affected “a limited amount” of guest and employee information including names, addresses and driver’s license numbers.

MGM said the $100 million covers expenses incurred in connection with the incident, as well as the “investigation, remediation, and other costs” associated with the cyberattack.

The company said the incident did not affect financial, payment card, or other sensitive data associated with its guests or employees.

MGM Resorts joins the long list of companies that have suffered expensive and damaging cyber attacks in recent years. Such costs include, but are not limited to, the purchase and installation of new hardware and software, costs associated with the investigation and responding to customer inquiries, and the potential loss of business as a result of the attack. Many companies also face fines, legal fees, and other costs related to their mishandling of customer or employee data.

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