Analyst: MGM losing $4.2M-$8.4M a day because of cyberattack

Analyst: MGM losing $4.2M-$8.4M a day because of cyberattack

Article brief provided by Las Vegas Review-Journal
  • Richard N. Velotta , Las Vegas Review-Journal
September 18, 2023 4:22 PM
  • Richard N. Velotta , Las Vegas Review-Journal

MGM Resorts International could be losing between $4.2 million and $8.4 million in daily revenue and around $1 million in cash flow every day it’s under a cyberattack, a gaming industry analyst said in a Sunday report to investors.

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David Katz, an equity analyst with New York-based Jefferies Group, in a weekly report on gaming, lodging and leisure companies, updated his Thursday assessments of MGM and Caesars Entertainment Inc. that included an estimate that MGM could take a 10 percent to 20 percent hit on revenue and cash flow “for the days that the current conditions exist.”