Two years after the deadly Las Vegas mass shooting that killed 58 people and left hundreds more wounded or injured, MGM Resorts International and victims reached a settlement that could reach up to $800 million, according to a statement issued Thursday by the casino and hospitality giant.
MGM pointed out in its statement that the settlement should not be interpreted as the company’s admission of liability, but that it saw it as the only way to let victims and their families move forward in their healing process and to avoid protracted litigation.
On October 1, 2017, a lone gunman, later on identified as retired accountant and avid video poker player Stephen Paddock, opened fire from his suite on the 32nd floor of MGM-owned Mandalay Bay Hotel and Casino into a crowd of concertgoers attending the Route 91 Harvest music festival.
Paddock killed 58 people, more than 800 were wounded or injured trying to escape the scene. The shooter shot himself before being found by police in his room. His motive for carrying out the deadliest mass shooting in modern US history has remained undetermined by investigators to date.
Paddock had built a 23-gun arsenal in his suite in the days leading up to the deadly incident. In lawsuits filed since the shooting, MGM was slammed over how its property failed to spot the fact that one of its guests hoarded nearly two dozens of high-powered guns and ammunition in his room for days.
The company was also accused of negligence and failure to harness the necessary safety measures during the music festival, which was attended by more than 22,000 people at the time of the shooting.
Moving Forward
Commenting on the settlement, MGM Chairman and Chief Executive Jim Murren said in a statement that their “goal has always been to resolve these matters so our community and the victims and their families can move forward in the healing process.”
Mr. Murren went on that they “have always believed that prolonged litigation around these matters is in no one’s best interest.”
The lead attorney for the plaintiffs, Rober Eglet, said that the settlement marks a milestone in the recovery process of the victims and their families. He noted that “while nothing will be able to bring back the lives lost or undo the horrors so many suffered on that day, this settlement will provide fair compensation for thousands of victims and their families.”
MGM said previously that it had just over $750 million in insurance that would cover the settlement costs. The company previously said it hoped to reach an agreement with the victims of the shooting by May 2020.
Last year, the casino operator faced massive public backlash after countersuing more than 1,900 victims, arguing that it should not be held liable for “deaths, injuries, and emotional distress” resulting from the mass shooting.
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