MGM Resorts Agrees To $1Billion Settlement After Shooting At Key CES Resort
MGM Resorts who own the Mandalay Bay Hotel and Casino in Las Vegas where the US Consumer Electronic Show kicks off with keynotes and press conferences, has agreed to fork out A$1.1 Billion dollars after a mass shooting at the resort back in 2017.
The Las Vegas Hotel which is used by brands such as Samsung, Sharp, LG and Panasonic to kick off their CES campaigns was the scene of the deadliest ever mass shooting on American soil weeks out from CES 2018.
On October 2, 2017 Stephen Paddock shot from the 32nd floor of the Mandalay Bay Hotel and Casino down into a concert with more than 20,000 revellers, killing 58 people and injuring more than 500.
The money was agreed in an effort to resolve legal cases against MGM who have not admitted any liability.
The settlement fund will be paid for by MGM Resorts’ insurers the Company had insurance coverer for A$1 Billion dollars.
“While nothing will be able to bring back the lives lost or undo the horrors so many suffered on that day, this settlement will provide fair compensation for thousands of victims and their families,” said Robert Eglet, a lead lawyer for plaintiffs in the case.
He added that the settlement “represents good corporate citizenship on their part”.
The process is expected to be completed next year. Under the settlement the parties will dismiss all pending litigation.
“Our goal has always been to resolve these matters so our community and the victims and their families can move forward in the healing process,” said Jim Murren, chief executive of MGM Resorts.