MGM Braces for $100 Million Loss After Cyberattack

MGM Resorts International expects a $100 million hit to its third-quarter results due to a cyberattack last month that disrupted its operations. The attack led to a data breach, compromising the private information of customers who used MGM services before March 2019. While the company believes a limited number of Social Security and passport numbers were obtained, it has no evidence of identity theft or account fraud. The hackers did not access customer bank account numbers or payment card information. MGM has restored most of its guest-facing systems and expects no impact on its full-year results. The FBI is investigating the breach.