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MGM Resorts May Pay $800M For Vegas Shootings

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Casino giant MGM Resorts told federal regulators it might pay up to $800 million to settle liability lawsuits stemming from the 2017 mass shooting in Las Vegas — the deadliest in modern U.S. history, reports the Associated Press. “The company believes it is reasonably possible that a settlement will be reached” by next May, it told the Securities and Exchange Commission. MGM Resorts said it has $751 million in insurance to pay toward a settlement. However, a lawyer handling mediation talks for plaintiffs called it premature for the corporate owner of Mandalay Bay resort to report a possible settlement range between $735 million and $800 million. “We’re not even close to resolving all the terms and issues before we have a settlement,” attorney Robert Eglet said. He represents about 4,200 claimants, including those who have sued in Nevada, California and other states, and people who have not formally filed for damages.

“It’s true that a settlement is possible,” Eglet said. “But I will tell you it’s not probable. Nothing is signed. We have a long way to go before we have an agreement.” Company spokeswoman Debra DeShong said progress has been made after mediation sessions over several months. MGM Resorts has defended itself against liability claims, outraging victims last summer when it filed lawsuits against more than 1,900 people in a bid to consolidate claims in one federal court. The plaintiffs want compensation for a range of physical and psychological harm after a shooter rained gunfire from a Mandalay Bay suite into an open-air concert crowd, killing 58 people and injuring more than 800. They accuse MGM Resorts, which owns the high-rise hotel and owned the concert, of failing to adequately protect the 22,000 people attending the Route 91 Harvest Festival.

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