It expects to also incur less than $10 million as a related one-time cost in the quarter ended on Sept. One of the world’s largest gambling firms, MGM shut down its systems after detecting the attack to contain damage, it said. Analysts who have tracked Scattered Spider say more and more organizations have been falling for the group’s skilled social engineering schemes. The MGM data breach, which the FBI is investigating, is a vivid example of how large organizations remain vulnerable to cybercrime.
Oct 5 (Reuters) – MGM Resorts International said on Thursday a cyberattack last month that disrupted its operations would cause a $100 million hit to its third-quarter results, as it works to restore its systems. MGM said it is “well-positioned” to have a strong fourth quarter with record results in November, driven mainly by a Formula One racing event slated to take place in Las Vegas. (Reporting by Zeba Siddiqui in San Francisco and Shivansh Tiwary in Bengaluru; Editing by Shilpi Majumdar and Tom Hogue) The company expects the breach will have a negative impact of about $100 million to its adjusted property core profit for its Las Vegas Strip division, and expects total occupancy of 93% this October versus 94% in the same month a year ago.
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