MGM Resorts, the US casino giant, has confirmed that its hotels and casinos are back to normal operations following the cyberattack on September 10 that severely impacted its systems across the United States. The company expressed gratitude for the patience of its customers during the incident and mentioned that their teams are ready to assist with any intermittent issues. The attack resulted in disruptions to website access, email services, reservations systems, and even slot machines at various MGM Resorts locations.
Key Points:
- Return to Normalcy:
- MGM Resorts stated that all its hotels and casinos have resumed normal operations. Customers can use the MGM Resorts app, book dining, entertainment, or salon experiences, and avail Slot Dollars and FREEPLAY at all properties.
- Impact of Cyberattack:
- The cyberattack caused considerable disruption and was estimated to cost MGM Resorts between US$4.2 million and US$8.4 million in revenue per day. The attack affected daily revenues and cash flow, with slot machines offline, ATMs down, and guests facing issues accessing their hotel rooms.
- Insurance Coverage:
- MGM Resorts is expected to be covered by a US$200 million cyber insurance policy that includes ransom payments and business interruption coverage. Analysts believe that insurance coverage will mitigate the financial impact of the cyberattack on MGM Resorts.
- Resilience of MGM China:
- The cyberattack did not affect MGM China, the Macau-based subsidiary of MGM Resorts, ensuring that operations in Macau remained unaffected during this incident.
The resolution of the cyberattack and the return to normal operations are positive developments for MGM Resorts as they strive to recover from the disruption and reassure their customers. The incident has highlighted the importance of cybersecurity measures and the need for robust insurance coverage in the face of such cyber threats.