LAS VEGAS, Nev. (NBCNC) – Victims of the Las Vegas massacre have agreed to settle their lawsuit against MGM for $735 million to $800 million.
58 people were killed on October 1, 2017, when a gunman opened fire on concertgoers at the Mandalay Bay resort.
The gunman shot himself as law officers closed in on his room on the 32nd floor.
The attorney who announced the settlement today said the final amount depends on the number of claimants who choose to participate.
Attorney Robert Eglet, whose firm represents nearly 2,500 victims, said the settlement will help those affected by the shooting move forward. He stated, “MGM’s stated goal from the outset of this litigation was to resolve these matters so that the community, the victims and their families can move forward in the healing process. And today’s announcement is a step forward in this direction and proof in my mind that MGM meant what they said at the outset of this litigation that their desire was to resolve this thing globally.”
An independent claims administrator will allocate the funds.
MGM Resorts has insurance coverage that will cover $751 million.
The following statement was released by MGM Resorts International:
“Our goal has always been to resolve these matters so our community and the victims and their families can move forward in the healing process. This agreement with the Plaintiffs’ Counsel is a major step, and one that we hoped for a long time would be possible,” said Jim Murren, Chairman and CEO of MGM Resorts. “We have always believed that prolonged litigation around these matters is in no one’s best interest. It is our sincere hope that this agreement means that scenario will be avoided.”
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