\u201cMalware distributors have gotten increasingly savvy, and you need to be careful about what you download and click on.\u201d<\/strong><\/p>\nWhat\u2019s Next for MGM<\/h2>\n Following the attack, MGM rebuilt its cybersecurity systems and bolstered related defenses. That\u2019s a step in the right direction, but the damage is done, and some investors might argue that MGM should have played ball with Scattered Spider and paid them to go away.<\/p>\n
The math favors that argument. After all, MGM\u2019s $100 million hit to third-quarter earnings is significantly larger than the $15 million a Caesars insurance carrier paid out.<\/p>\n
It is, however, a complex situation. In the month following the attack, shares of MGM tumbled roughly 20%, but the stock surged 4.86% on above-average volume, perhaps spurred by the news the company didn\u2019t comply with the ransom demand<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"MGM Resorts International (NYSE: MGM) reportedly refused the hackers that recently executed a ransomware attack on its US operations and will suffer a significant reduction in third-quarter earnings as a result. On Thursday, the Bellagio operator warned investors its third-quarter earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs (EBITDAR) will be reduced […]<\/p>\n","protected":false},"author":46,"featured_media":256878,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,33810,16693],"tags":[81903,81898,82041],"acf":[],"yoast_head":"\n
MGM Resorts Refused To Pay Recent Ransomware Demand<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n