MGM Resorts Recovers from Cyberattack

by webmaster

MGM Resorts announced that its hotels and casinos have returned to normal operations after 10 days of dealing with a cyberattack on its computer systems.

Despite the recovery, certain digital services are still unavailable. Digital room keys and mobile check-in features remain offline, and physical keys are being issued to guests instead. Additionally, customers expressed frustration with the inability to make hotel bookings through the MGM app. However, the company is actively working on resolving these issues.

Unfortunately, MGM’s stock price has not seen a significant boost following the recovery from the cyberattack. On Wednesday, shares fell by 1.1%, and premarket trading on Thursday showed a further decline of 0.5%. Since September 11, when the attack was first identified, shares have dropped by 11.4%.

MGM expressed gratitude that all their hotels and casinos are now operating normally despite intermittent issues. The company assures guests that their dedicated employees are prepared to provide assistance.

Caesars Entertainment also recently experienced a cyberattack, which was disclosed in a filing last week. In an effort to mitigate the impact, the company paid approximately half of the $30 million ransom demanded by hackers, as reported by The Wall Street Journal.

Caesars expects to incur ongoing expenses related to the attack, including costs associated with response, remediation, and investigation. As a result, the company’s stock has fallen by 9.2% in September.

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