MGM Resorts International, one of the world’s largest gambling firms, has announced that a cyberattack last month will result in a $100 million impact on its third-quarter results. The company had to shut down its systems to contain the damage after detecting the breach. Additionally, MGM anticipates incurring a one-time cost of less than $10 million related to the attack for the quarter ending on September 30.
Following the cyberattack, customers shared images on social media depicting slot machines displaying error messages and long queues at MGM’s Las Vegas hotels. While MGM has refrained from commenting on any ransom demands or payments, it confirmed that the private data of customers who utilized MGM services before March 2019 was compromised. This data includes contact details, gender, date of birth, and driver’s license numbers. The company also suspects that a limited number of Social Security and passport numbers were accessed, but there’s no evidence suggesting that this data has been used for identity theft or account fraud.
The FBI is currently investigating the MGM data breach, underscoring the vulnerability of large organizations to cyber threats. MGM has clarified that the hackers did not access any customer bank or payment card details, and data from its luxury resort, The Cosmopolitan of Las Vegas, remained secure. The company’s regulatory filing states that the full extent of the costs and impacts of the breach is still undetermined. Despite the setback, MGM expects a 93% total occupancy this October, a slight decrease from 94% the previous year. The company remains optimistic about its fourth quarter, anticipating record results, especially with the upcoming Formula One racing event in Las Vegas.
Source: CNN
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