The computer systems of MGM Resorts were brought back online after a 10-day shutdown, which was initiated to protect its data, including hotel reservations and credit card processing, from a cyberattack.
MGM Resorts reported that all hotels and casinos were operating normally after the restoration. However, the extent of the breach and the compromised information were not immediately disclosed. Analysts estimated that the daily shutdown cost the company up to $8 million, potentially totaling $80 million. MGM Resorts has annual revenues exceeding $14 billion.
Rival casino owner Caesars Entertainment also disclosed a cyberattack on September 7th, though it reported that its casino and online operations were not disrupted. Caesars paid a reported $15 million of a $30 million ransom to secure customer data.
Both companies are expected to disclose the effects of the attacks in upcoming quarterly reports to the Securities and Exchange Commission.
These attacks exposed cybersecurity weaknesses and challenged the perception of invulnerability within the industry. As a result, there have been calls for heightened defensive measures and improved incident response processes.
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