MGM Resorts and International has settled with the victims and survivors of the October 2017 Las Vegas mass shooting that left 58 people dead and hundreds wounded.
Jim Murren, MGM Resorts CEO, said in a statement:
“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, […] This agreement with the Plaintiffs’ Counsel is a major step, and one that we hoped for a long time would be possible. […] We have always believed that prolonged litigation around these matters is in no one’s best interest. It is our sincere hope that this agreement means that scenario will be avoided.”
MGM has noted that the settlement isn’t an admission of liability for the mass shooting. The settlement is worth anywhere between $735 million and $800 million. According to reports, a regulatory filing released in May showed that MGM had $751 million in insurance coverage which could help cover the cost of the lawsuits.