The recent cyber-attack orchestrated by the nefarious hacker group Scattered Spider was an unwelcome surprise for casino giant MGM Resorts International. The cyber invaders penetrated the company’s technological fortifications and remained undetected for days, before making financial demands of the globally recognized resort operator.
During a conversational exchange with Bloomberg, MGM’s incumbent CEO Bill Hornbuckle shed some light on the attack. It was only after several days of dogged combat against an unknown ransomware threat that the extortionist intentions of the hackers emerged. Per Hornbuckle, at this juncture, MGM was already laying the groundwork to reinforce their digital defenses.
“With a white-knuckle resolve, we stood our ground, refusing to capitulate to their manipulative ploys,” Hornbuckle shared with Bloomberg’s Margi Murphy, highlighting the team’s determination to fight back. “Our early interception and swift action placed us ahead of the curve.”
Last week, the Luxor operator shared the unanticipated financial toll of the cyber onslaught – it will reportedly shave off $100 million from the third-quarter EBITDAR and extract a one-time cost of at least $10 million.
The menace of Scattered Spider initially surfaced in the MGM ecosystem on September 7. However, it was only several days later that a ransom demand was sent through. By this time, the invasive algorithm had already caused considerable chaos, with issues ranging from extremely long check-in lines to concerns of delayed employee payments and malfunctioning gaming devices.
Interestingly, prior to MGM, Caesars Entertainment was Scattered Spider’s unsuspecting victim, losing a staggering $15 million payout to the hackers. Hornbuckle confessed his ignorance of Caesars’ encounter with ransomware until MGM was ensnared by a similar ordeal.
Upon reflection, it might seem that MGM made the right choice in refusing to capitulate against the hackers, an action aligned with the FBI’s advice. While Hornbuckle did not reveal the sum demanded, he expressed relief at refusing the ransom, especially as operations are back to normal. Financial damage, expected to be covered by insurance, is anticipated to be limited to the third quarter.
As casinos delving deeper into the digital realm, creating a safe and secure experience for their customers becomes paramount. One cannot stress enough the importance of cyber resilience in a tech-centric world. Thankfully, there’s also a safer way to enjoy the thrill of games through online casinos. In fact, we’ve compiled a list of top online casinos for this month right here at West Island Blog. If you’re in Canada and looking for a risk-free, engaging gambling experience, cast a glance over our carefully curated list. Trust us, you won’t be disappointed.
