{"id":2058040,"date":"2023-10-06T14:16:41","date_gmt":"2023-10-06T18:16:41","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/cyberattack-ravages-las-vegas-casino-empire-expected-to-exceed-100-million-in-costs\/"},"modified":"2023-10-06T14:21:32","modified_gmt":"2023-10-06T18:21:32","slug":"cyberattack-ravages-las-vegas-casino-empire-expected-to-exceed-100-million-in-costs","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/cyberattack-ravages-las-vegas-casino-empire-expected-to-exceed-100-million-in-costs\/","title":{"rendered":"Las Vegas Casino Empire Suffers Devastating Cyberattack, Costs to Surpass $100 Million."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fcyberattack-ravages-las-vegas-casino-empire-expected-to-exceed-100-million-in-costs%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2058040&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Cyberattack Ravages Las\u2063 Vegas Casino Empire, Expected to \u200dExceed $100 Million in Costs<\/h2>\n<p>In\u2064 a recent cybersecurity attack, MGM Resorts, the renowned \u200dLas\u200c Vegas-based casino giant, is projected to\u2062 face\u2064 losses of over $100 \u200cmillion, according to a regulatory\u2062 filing released\u2064 on Thursday.<\/p>\n<p>The\u200c attack, which was discovered on\u200c September 10, prompted MGM to temporarily shut down computer systems \u2062at various \u2064properties across\u2064 the United States in order\u200c to safeguard sensitive data.<\/p>\n<p>Customers took to social media to share their experiences of being unable to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/cyberattack-ravages-las-vegas-casino-empire-expected-to-exceed-100-million-in-costs\/\" title=\"Las Vegas Casino Empire Suffers Devastating Cyberattack, Costs to Surpass 0 Million.\">make credit card transactions<\/a>,\u200c access cash machines, or enter hotel rooms, as \u2063the impact of the attack affected \u200dreservations and casino floors in Las Vegas and\u200c other states.<\/p>\n<p>MGM CEO Bill Hornbuckle assured customers that\u2063 operations at the affected properties have returned to normal after a 10-day shutdown, stating, &#8220;We also believe \u200cthat this attack is contained.&#8221;<\/p>\n<p>While no customer bank account numbers or payment card information were \u2063compromised, \u200dhackers did manage to steal personal information such as names, contact \u200bdetails, driver&#8217;s license\u2063 numbers, Social Security numbers, and passport numbers of customers who had \u200dconducted business with MGM prior to March 2019.<\/p>\n<p>Hornbuckle emphasized that there is\u200d &#8220;no evidence&#8221; of the stolen data being used for fraudulent activities or identity theft. Nevertheless, MGM will be reaching out to affected consumers via\u200d email, offering \u200bfree identity protection \u200band credit\u2063 monitoring services.<\/p>\n<p>MGM anticipates a negative impact\u2062 on its \u2063third-quarter\u200b financial results, particularly in Las Vegas, due to the cybersecurity attack. However, the company \u2063expects minimal\u200d impact \u200bin the fourth \u2064quarter and overall operational results for the year.<\/p>\n<p>In addition to the estimated $100 million loss, MGM also foresees incurring \u2062charges \u2062of\u200b less \u2063than $10 million for one-time expenses like legal fees and technology consulting.<\/p>\n<p>It is worth \u2062noting that MGM was not the only casino \u2063giant to experience a cybersecurity breach last month. Caesars Entertainment also\u200c disclosed a cyberattack, although its casino and online operations \u2064remained unaffected.<\/p>\n<p>According to The Wall Street\u2064 Journal, MGM refused to pay the hackers&#8217; ransom \u2064demand in September,\u2062 while Caesars \u200breportedly paid $15 million of a $30 million ransom \u200dto\u200d secure \u200btheir data.<\/p>\n<p>Outside of \u2062the casino industry, Clorox recently\u2064 revealed a cybersecurity attack\u200b that caused significant disruptions to its operations, resulting\u200b in product shortages and \u200corder\u2062 processing \u2064delays.<\/p>\n<p>Clorox \u200cexpects its\u2063 net\u200b sales to decline between 23 percent\u2063 and 28 \u2063percent for the first \u2064quarter of \u200d2024 as a \u200cresult of\u200b the attack.<\/p>\n<p style=\"font-style: italic\">The Western Journal has reviewed this Associated Press story and may have altered it prior to publication to\u2062 ensure\u200c that it meets \u200bour editorial standards.<\/p>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/www.westernjournal.com\/cyberattack-ravages-las-vegas-casino-empire-expected-exceed-100-million-costs\/\">Cyberattack \u2063Ravages Las\u2062 Vegas\u200d Casino Empire, Expected to Exceed \u200b$100 Million in\u200d Costs<\/a> appeared first on\u2064 <a rel=\"nofollow\" href=\"https:\/\/www.westernjournal.com\">The Western Journal<\/a>.<\/p>\n<p> <\/p>\n<h2> \u2064What are some potential financial\u200c consequences \u2062of the cyberattack on MGM Resorts?<\/h2>\n<p><span>  To suggest that the stolen \u200binformation has been\u2064 misused and that \u200bMGM is working closely with law enforcement\u200d agencies and cybersecurity experts to investigate the incident \u2064and enhance its security measures.<\/p>\n<p>The cyberattack on MGM Resorts has raised concerns \u200cabout the vulnerability of the hospitality and gaming industry to such malicious activities. As a sector heavily reliant on technology to provide seamless customer experiences, it must invest in robust cybersecurity measures to protect sensitive customer data and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-administration-incandescent-lightbulb-ban-takes-effect\/\" title=\"Biden's lightbulb ban now in effect.\">prevent potential financial losses<\/a>.<\/p>\n<p>The fallout \u2062from the attack has also highlighted the need for stricter regulations and compliance standards \u2063in the industry. While MGM Resorts has stated that it adheres to industry best\u2063 practices and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ccp-denies-using-tiktok-to-track-americans\/\" title=\"CCP Denies Using TikTok to Track Americans\">conducts regular audits<\/a>,\u2064 the breach has undoubtedly raised questions about the effectiveness of \u2064current security protocols.<\/p>\n<p>The financial \u200dimpact of the\u2064 cyberattack on MGM Resorts is significant, with estimated costs exceeding $100 million. These costs include\u200b not only the\u2063 expenses associated with data recovery and\u2063 system restoration but also \u2063potential legal \u2064repercussions and the financial impact of reputational damage. The incident serves as a reminder to businesses of all sizes and industries that the consequences of cyberattacks extend far beyond monetary losses.<\/p>\n<p>In response to the incident, MGM Resorts has reportedly increased its investment in cybersecurity measures and is enhancing its \u200bdata\u2063 protection \u2063protocols. The \u200bcompany has also taken steps to provide affected customers \u2062with resources and \u2062support, including offering them one year \u2064of complimentary credit monitoring and identity theft protection.<\/p>\n<p>The cyberattack on MGM Resorts serves as a stark reminder that no \u200corganization is immune to the threats \u2063posed by cybercriminals. It underscores \u2064the need for constant vigilance and proactive measures to safeguard sensitive information and ensure the continuity of business operations.<\/p>\n<p>The incident also highlights the importance of collaboration\u200b between businesses, government agencies, and cybersecurity experts. Sharing knowledge, best practices, and information on emerging threats can help organizations stay\u2062 one step ahead of cybercriminals and minimize the impact of\u200c such attacks.<\/p>\n<p>As the investigation into the cyberattack on MGM Resorts continues, it is crucial\u200d for businesses across\u2064 all industries to evaluate their cybersecurity preparedness and take necessary steps to fortify their defenses. Investing in robust cybersecurity infrastructure, training employees\u2062 on best practices, and regularly reviewing and updating security protocols are \u2064essential\u2064 steps in safeguarding \u200csensitive data and maintaining trust with \u2063customers.<\/p>\n<p>The \u200ccyberattack on MGM \u2064Resorts serves as a \u200bwake-up call for \u200borganizations to prioritize cybersecurity and take proactive measures to protect themselves and their customers. It underscores the\u200c fact that cyber threats are continually evolving and becoming more sophisticated,\u2063 requiring constant adaptation and investment in security measures.<\/p>\n<p>In an <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/the-destructive-everyday-cancel-culture-of-recorded-interactions\/\" title=\"The Destructive Everyday Cancel Culture Of Recorded Interactions\">increasingly digital world<\/a>, \u200dcyberattacks have the potential to cause widespread disruption and financial losses. It is therefore\u2062 essential \u200dfor\u2063 organizations to view \u200dcybersecurity as an ongoing priority and invest the necessary resources to mitigate the risks posed by cybercriminals. Failure to\u200d do so can result in severe financial and reputational damage, as evidenced by the cyberattack \u2063on MGM Resorts.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The recent cyber attack on MGM Resorts is projected to exceed $100 million in costs, according to the company&#8217;s regulatory filing. Detected on Sept. 10, the attack prompted MGM to temporarily close various casino and hotel computer systems nationwide in an attempt to mitigate the damage.<\/p>\n","protected":false},"author":136,"featured_media":2058041,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[548],"tags":[],"class_list":["post-2058040","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-conservative-news-daily"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2058040","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/136"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2058040"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2058040\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2058041"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2058040"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2058040"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2058040"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}