The MGM Resorts is operational after cybersecurity issue

The MGM Resorts is operational after cybersecurity issue

We are now in the third day of what MGM Resorts International is calling a cyber security issue,
which is affected all nine of their Las Vegas strip resorts.
Brian Horwoth has been following this story and he joins us now in the studio with a very
latest.
Brian tried MGM is still dealing with blackout blackout slot machines and the inability to access
the company’s popular rewards points program.
Customers I talked to today are frustrated and right now there’s no end in sight.
It started about 48 hours ago.
It’s the problem MGM is calling a cyber security issue.
One security expert calls it a cyber hack and thinks it’s more serious than other similar
breaches.
Pete Nicholette with the multinational firm called Checkpoint Software says his company
works with many Fortune 500 companies that have dealt with high level hacking in the
U.S.
Every single subsystem their payment systems was offline and that’s extremely rare to have
multiple subsystems offline.
As the breach drags on,
MGM customers continue to have trouble with reservations and digital
room keys and have found other hiccups like an inability to charge to their room.
Meredith Hattaway and Sarah Liveley have been staying at the Excalibur.
They say the issues have cut into their Vegas fun.
Well,
if you actually played in the scene,
you couldn’t get your money back out of it.
You have to wait for an hour for an incentive to come and give you some money.
MGM’s insurance coverage likely will help with the financial fallout for the nine
strip properties impacted and resorts in places like Atlantic City and Michigan,
but with
less MGM slot machines operating on the strip,
there’s less revenue that the company can
pull in.
And MGM draws a lot of money from slots.
According to financial filings,
MGM collected $575 million in slot win on the strip from July 1st
through September 30th of last year.
There are many unanswered questions about what happens such as who or what might be behind
the breach.
But we do know that FBI is investigating Aaron Ross,
formerly the special agent in charge
at the Las Vegas FBI office,
says the hacker community can be a formidable foe.
Well,
I would never be dismissive of the talents of the activist groups out there and the cyber
hackers that are out there.
They have skills.
They utilize them for the best purposes.
Now,
we’ve been keeping an eye on MGM stock price,
which closed today at $4199 per share.
Down about 2 per cent since Monday.
Now,
as recently as July 24th,
that stock price was at nearly $51 per share.
Reporting from the newsroom tonight,
I’m Brian Horwath.

 

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