MGM Resorts told federal regulators Thursday that it might pay $735 to $800 million to settle liability lawsuits from the mass shooting from the company’s Mandalay Bay Resort and Casino, Las Vegas in 2017, but a lawyer handling mediation talks for the plaintiffs said that it is premature to talk about a settlement amount.
“The company believes it is reasonably possible that a settlement will be reached” by next May, MGM Resorts told the Security and Exchange Commission (SEC) in a quarterly report, while also stating that it has $751 million in insurance to pay toward a settlement.
Attorney Robert Eglet, who says he represent 4,200 claimants as well as people who haven’t formally filed for damages, balks at the estimated settlement amount. “We’re not even close to resolving all the terms and issues before we have a settlement,” he told The Associated Press.
Eglet said that talks with MGM Resorts attorneys are ongoing. He reviewed the document that MGM Resorts provided for the SEC, and agreed that a settlement should be reached within a year.
Debra DeShong, MPI’s vice president of global corporate communications and industry affairs, told The Associated Press that progress has been made in the several mediation sessions that have taken place during the past several months. She said the goal is “to resolve these matters so all impacted can move forward in their healing process.”
Fifty-eight people were killed and more than 800 were injured when Stephen Paddock fired more than 1,100 rounds at attendees of the Route 91 Harvest Festival from a guest room on the 32nd floor of Mandalay Bay on Oct. 1, 2017. It was the deadliest shooting by an individual in United States history. The shootings rattled the entire Las Vegas community and beyond, and prompted special precautions for IMEX America 2017, held Oct. 10–12 at Sands Expo, The Venetian and The Palazzo.
Plaintiffs accuse MGM Resorts of failing to adequately protect the 22,000 people attending the festival, noting that Paddock spent several days gathering an arsenal of assault-style weapons and ammunition in his Mandalay Bay suite. MGM Resorts has defended itself against liability claims, and last summer it filed lawsuits against more than 1,900 people in a bid to consolidate claims in one federal court.