MGM expects cyberattack to cost over $100 million despite refusal to pay ransom

MGM Resorts was hit by a cyberattack in September that is expected to cost over $100 million in lost revenue.
The hackers, identified as Scattered Spider, disrupted operations and stole customer data including names, contact info, and social security numbers.
MGM refused to pay the ransom but incurred under $10 million in one-time expenses for consulting and legal fees.
The company believes the impact is contained and does not expect major disruption to full-year results.
MGM is providing identity protection services to affected customers but has seen no evidence of fraud stemming from the breach.