Victims of the 2017 Las Vegas massacre reached a settlement with MGM Resorts for at least $735 million, the company said Thursday.
The size of the settlement is expected to total up to $800 million, depending on the number of complainants who wish to seek the settlement money, MGM said in a press release.
The settlement comes just after the two-year anniversary of the deadliest mass shooting in modern American history, which left 59 dead, including the gunman, and wounded about 500 people. MGM owns the Mandalay Bay resort-casino, where the shooter targeted concert-goers from his hotel room.
Hundreds of survivors lodged separate claims against MGM for failing to properly monitor the shooter’s activities and employ adequate security measures. The shooter had stockpiled weapons and ammunition at the hotel in the days leading up to the shooting.
The company separately sued more than 1,000 victims and relatives nearly a year after the shooting to avoid liability claims. MGM claimed that the lawsuits and potential claims should be dismissed because of a 2002 federal law shielded the company from liability because it used anti-terrorism technology. The security company that MGM hired for the music festival the night of the deadly attack was certified by the Department of Homeland Security.
“MGM Resorts is a valued member of the Las Vegas community and this settlement represents good corporate citizenship on their part,” Robert Eglet, a lawyer representing the victims, said in a statement. “We believe that the terms of this settlement represent the best outcome for our clients and will provide the greatest good for those impacted by these events.”
All current and pending litigation will be dismissed under the agreement, and the settlement is not an admission of liability, MGM said in the statement.