Casinos are just recovering from the cyberattack that crippled MGM Resorts (MGM) -) properties on the Las Vegas Strip last month. But now new information from the company is shedding more light on just how damaging the attack really was.
The cyberattack on Sept. 11 has been claimed by a collective of hackers known as Scattered Spider, a subgroup of a larger criminal organization known as ALPHV. Its ransomware attack shut down everything from hotel reservation services to ATMs to slot machines at the MGM properties.
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In a regulatory filing with the Securities and Exchange Commission, MGM admitted that hackers obtained some personal information belonging to customers who made transactions with the company prior to March 2019.
That information includes names, contact info, gender, dates of birth, and driver's license numbers. For some, the hackers were even able to collect social security and passport numbers from their attack. However, the company also says that it does not believe that customer passwords, bank account numbers or payment card information were obtained by the criminal actors.
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For investors, the company says that it believes the attack will have a negative impact on its third quarter 2023 results, predominantly in its Las Vegas operations, to the tune of about $100 million.
MGM says occupancy rates during the month were down about 5% to 88% compared to the year prior.
"Although the Company currently believes that its cybersecurity insurance will be sufficient to cover the financial impact to its business as a result of the operational disruptions, the one-time expenses described above and future expenses, the full scope of the costs and related impacts of this issue has not been determined," MGM said in its filing.
MGM shares dropped as much as 18.5% between Sept. 11 and Thursday's close. (The shares closed up 4.9% to $36.48 on Friday.
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