MGM/Caesars facing lawsuits over cyberattack as authorities investigate

At least five lawsuits have been filed against US gaming operators MGM Resorts and Caesars Entertainment over the recent cyberattacks, over alleged failure to protect customer data.

According to reports, customers say reports by the companies have not been sufficient to understand if their data has been compromised or could be vulnerable in the future.
Consumers are largely concerned over the possible sale of their information over the dark web.
The lawsuits seek monetary damages for the victims and possibly profits from companies’ use of the data before its theft.
The lawsuits come even as authorities in the US state of Nevada have called for an investigation into how the cyberattacks took place and which vulnerabilities need to be addressed.
Analysts are holding a cautious tone on the stocks of both companies following the attacks, with concerns over ongoing repercussions.
Caesars was reported to have made a multi-million-dollar payout to regain access to its compromised systems.
Meanwhile, MGM is reported to have endured a longer drawn-own impact on its hotel and casino platforms by not giving into the ransom requests.
MGM Resorts is predicted to have lost as much as $8.4 million per day in revenue due to the systems hack.
It’s unclear how much of the losses the two companies are facing due to the shutdowns, and what amount will be covered by insurance.

Caesars Entertainment Cybersecurity Latest news MGM Resorts Data breach Cyberattacks

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