Casino group MGM Resorts International has filed their quarterly report with the US Securities and Exchange Commission, revealing that they feel a settlement could be reached with victims of the 2017 Las Vegas shooting for up to $800 million.
The company revealed that they've been in negotiations with the attorneys for plaintiffs since February, and they speculate that a possible settlement could range between $753 million and $800 million. MGM indicated that their insurance would cover up to $751 million of any settlement, with the rest coming from the company's bottom line.
In 2017 a video poker player and psychopath opened fire from the MGM-owned Mandalay Bay on a country music concert. In the process, the shooter killed 58 people and wounded more than 850 others.
MGM has garnered a lot of criticism for their handling of the survivors and family of victims in the aftermath of the shooting. Last year they sued 1,900 families in federal court, pre-emptively trying to keep the cases out of state court. Of course, this generated severe negative publicity for the company and negotiations have been taking place in the meantime.
We'll update readers as we learn more about a potential payout.