SMSMGM expects to pay up to $800 million to resolve lawsuits stemming from the 2017 mass shooting that occurred on its Las Vegas property — though it's unclear when or if settlements will be reached.
Over 4,200 people are thought to have filed lawsuits against the company after a man fired at outdoor concert-goers through a window of the Las Vegas Mandalay Bay Resort and Casino, killing 58 people and wounding more than 500 others. It was the deadliest shooting in recent U.S. history.
MGM released a statement on Friday: "After multiple mediation sessions over several months, progress has been made, and while mediation is ongoing, the company believes it is reasonably possible that a settlement will be reached."
A regulatory filing last week revealed that MGM could have around $750 million in insurance coverage that would help pay for settlements in this case.
