MGM expects cybersecurity issue to negatively impact third-quarter earnings

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MGM Resorts International said on Thursday operational disruptions due to a cybersecurity issue in September are expected to have a negative impact on its third-quarter results.The company, which runs more than 30 hotels and gaming venues globally including in Macau and Las Vegas, was targeted by a hackin

FILE PHOTO: An exterior view of MGM Grand hotel and casino, after MGM Resorts shut down some computer systems due to a cyber attack in Las Vegas, Nevada, U.S., September 13, 2023. REUTERS/Bridget Bennett/File PhotoMGM Resorts International said on Thursday operational disruptions due to a cybersecurity issue in September are expected to have a negative impact on its third-quarter results.

MGM estimates the cybersecurity incident to have a negative impact of about $100 million to adjusted property core profit for the Las Vegas Strip Resorts and Regional Operations, it said in a regulatory filing, sending its shares down close to 1 per cent in trading after the bell. Last month, the Las Vegas-based company said its hotels and casinos were back to normal operations but certain services including digital keys and mobile check-ins were not available.

 

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