MGM expects cybersecurity issue to negatively impact third-quarter earnings

The company, which runs more than 30 hotels and gaming venues globally including in Macau and Las Vegas, was targeted by a hacking group named Scattered Spider, Reuters had reported earlier, citing two sources familiar with the matter. MGM estimates the cybersecurity incident to have a negative impact of about $100 million to adjusted property core profit for the Las Vegas Strip Resorts and Regional Operations, it said in a regulatory filing, sending its shares down close to 1% in trading after the bell. The company said it also incurred a one-time expense of less than $10 million in the quarter ended Sept. 30 due to the incident, but does not expect a material impact to its financial performance for the full year.