MGM to pay Las Vegas shooting victims $800m

MGM Resorts International has reached a settlement agreement in the region of $735m – $800m with all plaintiffs involved on October 1, 2017, Las Vegas shooting that killed 58 people and left hundreds more wounded or injured.

On that day a lone gunman opened fire from his suite on the 32nd floor of MGM-owned Mandalay Bay Hotel on a crowd of 22,000 at the Route 91 Harvest music festival, with the site remaining closed since the next morning.

In lawsuits filed since the shooting, MGM was slammed over how its property failed to spot the fact that one of its guests hoarded nearly two dozens of high-powered guns and ammunition in his room for days.
The company was also accused of negligence and failure to harness the necessary safety measures during the music festival, which was attended by more than 22,000 people at the time of the shooting.

MGM pointed out in its statement that the settlement should not be interpreted as the company’s admission of liability, but that it saw it as the only way to let victims and their families move forward in their healing process and to avoid protracted litigation.

“Our goal has always been to resolve these matters so our community and the victims and their families can move forward in the healing process. We have always believed that prolonged litigation around these matters is in no one’s best interest. It is our sincere hope that this agreement means that scenario will be avoided,” stated Jim Murren, chairman and CEO of MGM Resorts.

“MGM Resorts is a valued member of the Las Vegas community and this settlement represents good corporate citizenship on their part. We believe that the terms of this settlement represents the best outcome for our clients and will provide the greatest good for those impacted by these events,” added Robert Eglet, a lead plaintiffs’ counsel.

The entire settlement process is expected to be completed by late 2020.