Following the recent cyberattack on MGM Resorts International, a gaming industry analyst has estimated that the intrusion could cost the company up to $8.4 million in daily revenue and $1 million in cash flow for each day of the attack. According to the analyst, MGM may lose around 10 to 20 percent of revenues and cash flow during the attack. MGM officials have reported issues with their computer system, with some employees not receiving scheduled payments and customers facing difficulties with the company’s website. The cyberattack has cast a shadow on an upcoming supermarket-brands convention, but representatives haven’t commented on the possibility of cyber issues. MGM is expected to claim damages against insurance, although the extent of coverage is unclear at this point. It is believed that Caesars Entertainment paid a ransom of around $15 million to regain control of their computer system, but it is uncertain whether MGM will do the same. The impact of the cyberattack on MGM is expected to be moderate in the short term, and it is likely to be an insurable event.
