MGM Says Computer Hack to Cost $100 Million in Lost Profit
The MGM Grand hotel and casino in Las Vegas.
Photographer: Bridget Bennett/BloombergThis article is for subscribers only.
MGM Resorts International said the recent computer hack that shut down many services at its casino hotels will reduce third-quarter profit by about $100 million.
The company also incurred less than $10 million in costs fighting the attack, with most related to technology consulting services and legal fees, according to a filing Thursday. Cybersecurity insurance should cover most of the costs, MGM said, although the full impact has yet to be determined.