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Written by: , Head of Content October 7, 2023 at 2:03PM
Last Updated: October 7, 2023 at 2:04PM
Read Time: 1 min.

MGM Resorts Estimates That a Recent Cyber Attack Will Cost Them $100 Million

Last month MGM Resorts was attacked by hackers who managed to disrupt the company’s operations in Las Vegas. As things are back to normal, MGM had time to evaluate the damage. The estimated cost is $100 million, and it should be covered by insurance allowing the company to recover relatively fast. 

Two of the company’s Vegas properties, ARIA and Bellagio were affected as their slot machines went down and the hotel booking system was compromised. Unlike its rival Caesars, who paid hackers $15 million, MGM Resorts refused to pay ransom and managed to get its system back under control after a while.  

It is believed that cyber criminals were able to gain access to the MGM Resorts systems after a 10-minute phone call. During the conversation with the Help Desk, they impersonated an employee after finding his or her profile on LinkedIn.