MGM Resorts admits cyberattack cost $100M in lost profits

After the attack last month, videos posted from MGM properties on the Las Vegas Strip, including ARIA and Bellagio, showed painfully long check-in lines, and some slot machines that were knocked offline. If you cherished this article and you also would like to obtain more info regarding grand lisboa คาสิโนออนไลน์ generously visit our website. The store closures followed the anti-government protests that year and a subsequent crackdown, which hit retail sales that were next battered by nearly three years of stringent COVID rules. (Reporting by Farah Master and Dorothy Kam; Editing by Clarence Fernandez) HONG KONG, Oct 6 (Reuters) – Hundreds of thousands of visitors have flocked to the Chinese-controlled regions of Macau and Hong Kong since Sept.

29, data shows as China wraps up its Golden Week holiday, although the figures amounted to just about 85% of pre-pandemic levels. Oct 9 (Reuters) – Thousands of Las Vegas workers will picket MGM Resorts and Caesars Entertainment casinos on Thursday for the first time in nearly two decades, the unions said, as they contemplate a possible strike. Mass gaming revenues have bounced back to pre-COVID levels, however, analysts said, citing a recovery of more than 100%, although earnings in the coveted “big-whale” VIP category was an estimated 15% of before.

He estimated wage increases could cost Caesars $40 million to $60 million a year and double that for MGM based on their employee count. (Reporting by Doyinsola Oladipo in New York and Shivansh Tiwary in Bengaluru; Editing by Maju Samuel and Cynthia Osterman) MGM has said that every 1% increase in wages would add about $10 million to labor costs, according to Truist analyst Barry Jonas. Tourism is the city’s lifeblood and Las Vegas is gearing up for major events including a Formula 1 race expected to bring more than 100,000 tourists to the city in November.

Some 95% of union members voted in September to authorize a citywide strike. During the eight-day national holiday, which runs until Friday, the number of daily visitors has surged more than five times from last year, taking hotel occupancy rates beyond 90%, executives said, speaking on condition of anonymity. In the world’s biggest gambling hub of Macau, about 900,000 visitors swarmed narrow cobblestoned streets, many to punt in dozens of glitzy casinos, while others took selfie photographs at historic spots such as Senado Square.

The company made the disclosure in a regulatory filing on Thursday evening, nearly a month after hackers caused massive disruptions that froze online booking systems, knocked slot machines offline, and even disabled digital locks on hotel room doors. The FBI strongly advises against paying ransoms to hackers, warning that bowing to the demands only encourages further attacks. Still, many companies quietly meet ransom demands to avoid business disruptions and negative headlines.

The unions are demanding higher wages, stronger protections against new technology that may threaten jobs, lower housekeeping quotas and improved safety. Pappageorge said that negotiations were “very disappointing” and the companies did not make substantive wage proposals. That’s in contrast to Caesars Entertainment, which suffered no public disruptions after reportedly paying about $15 million to hackers in a breach last month, believed to have been carried out by the same Russia-linked ransomware gang that struck MGM.

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