MGM resumes normal operations after cyberattack

MGM Resorts has officially announced that all of its hotel and casino operations have been entirely restored after a cyberattack on September 10.

In an overnight notice, MGM Resorts conveyed its satisfaction that its hotels and casinos were now “operating normally” and reassured guests that its devoted staff was prepared to assist with any lingering issues.

Customers were also informed that Slot Dollars and FREEPLAY were once again available at all MGM properties. In addition, it was stated that MGM Rewards members’ accounts would be updated in the future to reflect Tier Credits and MGM Rewards points. However, certain aspects, such as MGM Rewards points redemption and specific promotional offers, might still be unavailable.

MGM Resorts encouraged customers to use its app to reserve dining, entertainment, and spa services, indicating that digital services had resumed their normal functionality.

MGM struggled to regain control of its systems following the cyberattack, experiencing website interruptions, email disruptions, and reservations system malfunctions. There were also reports of ATMs being unavailable and hotel visitors being unable to access their accommodations due to malfunctioning digital keys.

David Katz, an equity analyst at Jefferies Group, estimated that MGM was losing between $4.2 million and $8.4 million per day in revenue due to the ongoing issues. This resulted in a significant 10% to 20% reduction in daily revenue and financial flow. Katz believed that the impact would be short-lived and that the majority of costs would be covered by insurance, as he viewed the cyberattacks as one-time, mainly insurable incidents that would not have an enduring effect on the business.

Original story by: IAG