Source: MGM Resorts refused to pay a hackers' ransom in the September cyberattack; filing: MGM estimates the hack will cost the company $100M+ in its Q3 2023
Fallout will have a $100 million negative impact on quarterly earnings, Las Vegas-based company says
Wall Street Journal Katherine Sayre
Related Coverage
- Letter from CEO — To Our Valued Customers: As previously reported, sophisticated criminal … MGM Resorts
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- Too Rich To Ransomware? MGM Brushes Off $100M in Losses Dark Reading
- Report: MGM Resorts refused to pay hackers following ransomware attack SiliconANGLE
- MGM Resorts' Las Vegas area operations to take $100M hit from cyberattack Cybersecurity Dive
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- Cyber Attack Could Hammer MGM Resorts in Vegas With Loss of $100 Million The Messenger
- MGM Resorts loses over $100M after refusing to pay ransom to end cyberattack New York Post
- MGM Resorts Refused to Pay Ransom but Lost $100 Million in Wake of Cyberattack Gizmodo
- Last Month's Cyberattack at MGM Resorts To Cost Company $100 Million PCMag
- MGM Resorts Expects $100 Million Loss From Hack Attack HealthcareInfoSecurity.com
- Data breach at MGM Resorts expected to cost casino giant $100 million DataBreaches.net
- MGM cyberattack causes $100m 3Q loss Cybernews.com
- MGM Says Computer Hack to Cost $100 Million in Lost Profit Bloomberg
- Cyberattack cost MGM Resorts about $100 million, Las Vegas company says NBC News
- I'm curious what the total annual spend would've been for preventative measures? I'm sure it would've been far less than $100M. … Dan Pirigyi
Discussion
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@davidsvendsen
David Svendsen
on x
MGM refused to pay the ransom. Good! Don't ever pay these. It only emboldens those groups to keep doing it. Instead: - Fix/re-build (no matter the cost) - Recoup what you can from insurance - Come up with a better DR plan - Stop underfunding IT https://www.wsj.com/...
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@jg_report
Jay Gershbein
on x
(4.4) #MGM's decision not to pay hackers is in line with guidance from the #FBI, which doesn't support paying ransom. Doing so doesn't guarantee that a company will recover its data, but rewards hackers to target more victims, the FBI's website says. https://www.wsj.com/... @WSJ …
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@sharkbiotech
Dan Rosenblum
on x
so $MGM decision not to pay hackers ransom of $50 million or whatever cost them $3.5 billion in market cap I understand their refusal to give in to hackers but not sure its the right thing to do by shareholders
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r/technews
r
on reddit
MGM Resorts confirms hackers stole customers' personal data during cyberattack