Casino Giants Face Cybersecurity Crisis: Caesars Entertainment Falls Prey To Hackers Post-MGM Attack
Portfolio Pulse from Piero Cingari
Casino companies Caesars Entertainment Inc. (CZR) and MGM Resorts International (MGM) have suffered significant cybersecurity breaches, leading to drops in their share prices. Caesars reportedly paid millions to prevent data leaks, while MGM's operations were disrupted. The ETFMG Prime Cyber Security ETF (HACK), which includes Splunk Inc. (SPLK) and Okta Inc (OKTA) among its top holdings, is up 18% year to date.
September 13, 2023 | 8:49 pm
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NEGATIVE IMPACT
Caesars Entertainment's share price dropped following a cybersecurity breach.
The cybersecurity breach and the subsequent payment to prevent data leaks have negatively impacted investor confidence, leading to a drop in share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
MGM Resorts International's operations were disrupted due to a cybersecurity breach, causing a drop in its share price.
The cybersecurity breach and the disruption of operations have negatively impacted investor confidence, leading to a drop in share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
The ETFMG Prime Cyber Security ETF, which includes Splunk Inc. and Okta Inc among its top holdings, is up 18% year to date.
The increase in cybersecurity breaches may have led to increased investor interest in cybersecurity companies, leading to an increase in the ETF's value.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Okta Inc, a top holding in the ETFMG Prime Cyber Security ETF, may benefit from increased investor interest in cybersecurity.
As a top holding in the ETFMG Prime Cyber Security ETF, Okta may see increased investor interest due to the rise in cybersecurity breaches.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
Splunk Inc., a top holding in the ETFMG Prime Cyber Security ETF, may benefit from increased investor interest in cybersecurity.
As a top holding in the ETFMG Prime Cyber Security ETF, Splunk may see increased investor interest due to the rise in cybersecurity breaches.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60