MGM Resorts Suffered Cyber Attack That Shut Down Virtually All Systems

by Anthony Losanno
Bellagio Exterior

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MGM Resorts suffered a cyber attack a few days ago that has shut down virtually all of the systems used at its properties across the United States. The company’s email, restaurant reservations, hotel booking system, digital room keys, and gaming machines remain offline.

Today marks the third day since the cyber attack. I cannot imagine how frustrating it must be for employees and guests in Las Vegas this week.

Videos posted to social media show guests lined up for hours to check in to Las Vegas hotels.

A Russian-linked hacker gang known as Blackcat is taking responsibility for the attack. It’s incredible how easily they gained access to MGM’s systems.

MGM’s shares have declined more than 6% since Monday. CNBC is reporting that MGM filed an 8-K report today with the Securities and Exchange Commission (SEC) noting that the company issued a press release “regarding a cybersecurity issue involving the Company.” 8-Ks are generally filed when publicly traded companies want to notify the SEC of an event that can have a material effect on the business. The financial impact is going further than the stock price with Moody’s warning that the cyberattack could negatively affect MGM’s credit rating as well.

Anthony’s Take: It’s scary how easily this group hacked MGM Resorts and it has yet to be revealed what personal information has been exposed for hotel guests and casino patrons. MGM suffered a data breach in 2020 that exposed the personal data of over 10 million customers. This is still developing and will hopefully be resolved and back online soon.

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