MGM To Pay $735M as Part of Settlement for Las Vegas Shooting

• MGM agrees to compensate victims of the 2017 Las Vegas mass shooting.

• Between $735 million and $800 million to be paid in 2020.

• Gaming and hospitality providers urged to bolster security measures.

After a lengthy legal process, renowned casino operator MGM Resorts International has finally agreed to a financial settlement with most of the survivors and the families of the victims of the 2017 mass shooting in Las Vegas. MGM Resorts owns and operates the Mandalay Bay Hotel where the massacre happened. The victims of the shooting had been attending a country music festival at a venue across the hotel which also happens to be owned by MGM.

The Las Vegas mass shooting was at the time and still is one of the deadliest mass shootings committed by one person. Unsurprisingly, there was a lot of outrage with MGM Resorts being considered culpable. MGM aggressively tried to take responsibility and opted to countersue the victims instead.

Lawyers that were representing the victims of the shooting and their families called for the gaming operator to be held liable for negligence. This has been a logical point of view since it is still hard to comprehend how the shooter was able to go past the facility’s security while holding an arsenal of high-powered assault weapons with thousands of rounds of ammunition.

Fair Compensation

Now it seems that MGM Resorts may finally be ready to own up to the mistakes that were made. The fact that it agreed on the settlement with the lawyers is the first step towards that. According to Robert Eglet, the lawyer that has been representing the victims of the shooting, MGM Resort’s insurance will be paying at least $735 million. The amount may go all the way up to $800 million depending on the number of claimants. Eglet’s firm reportedly represents close to 2,500 people who were affected in one way or the other.

To distribute the money from a settlement fund, an independent claims administrator will be appointed. The payout process is expected to be completed before the end of 2020. Despite that, there may be questions raised regarding whether the compensation is fair. Well, Robert Eglet had an answer for that:

“While nothing will be able to bring back the lives lost or undo the horrors so many suffered on that day, this settlement will provide fair compensation for thousands of victims and their families. We believe that the terms of this settlement represent the best outcome for our clients and will provide the greatest good for those impacted by these events.”

That said, the payouts that will be received by the claimants will mostly act as a source of closure. In addition to that, there is hope that the settlement will prompt gaming and hospitality providers to bolster security measures at their venues.