But that's not the only operational headache impacting MGM Resorts these days. While that $100 million loss garnered headlines, the MGM Resorts CEO noted insurance will cover the losses incurred. MGM Resorts was finally back to being fully operational by the end of September, Hornbuckle said. The company adjusted certain systems to 'mitigate risk to customer information' and then progressively restored those systems over the span of several weeks. Hornbuckle detailed the lengths the company went to protect its business during a recent cyberattack and data breach. 'We're coming out of this stronger as a team and as a culture with a focus on the culture of yes from both our guests and employees.' 'Following the issues, we have seen incredible resiliency in our business to start the fourth quarter,' MGM Resorts CEO William Hornbuckle said on the call with investor analysts.
The company recovered from a massive cyberattack that sparked a $100 million loss only to then face a potential worker strike days before the biggest event to hit Sin City in decades: the Formula One Las Vegas Grand Prix.īut if anyone is sweating at MGM Resorts, it wasn't apparent on a third-quarter investor call this week. It's easy to think MGM Resorts is playing a game of financially troublesome whack-a-mole.
