LAS VEGAS (CelebrityAccess) MGM Resorts has told federal regulators it thinks it may pay up to $800 million to settle liability lawsuits stemming from the October 2017 mass shooting, the deadliest in modern US history, that emanated from the 32nd floor of its Mandalay Bay hotel/casino in Las Vegas.
The company also told the Securities and Exchange Commission it is insured for $751 million.
A shooter fired down upon a crowd at the Route 91 Harvest country music festival, killing 58 people and injuring more than 800. Attorney Robert Eglet represents about 4,200 claimants who say they were harmed by the incident and is having out-of-court talks with MGM.
Eglet said it is premature for MGM Resorts to report that it’s “reasonably possible” a settlement will be reached by next May and called the company figure “not probable,” according to the Associated Press.