MGM Resorts Estimates Negative Impact From Cyber Security Issue In September Of $100M To Adjusted Property EBITDAR For Las Vegas Strip Resorts And Regional Operations, Collectively
Portfolio Pulse from Benzinga Newsdesk
MGM Resorts has estimated a negative impact of $100M to its adjusted property EBITDAR due to a cyber security issue in September. This impact is expected to affect both Las Vegas Strip Resorts and Regional Operations.
October 05, 2023 | 9:26 pm
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NEGATIVE IMPACT
MGM Resorts is expected to see a negative impact on its earnings due to a cyber security issue. The estimated impact is $100M on its adjusted property EBITDAR.
The cyber security issue is expected to have a significant negative impact on MGM Resorts' earnings. The company has estimated this impact to be $100M, which is a substantial amount. This is likely to negatively affect the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100