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Caesars Entertainment reportedly experienced a ransomware cyberattack recently that cost it a significant amount of money.
The Nevada-based hotel and casino company faced a cybersecurity breach to its network a few weeks ago that resulted in some of its data getting exposed to hackers, Bloomberg reported Wednesday. The outlet cited anonymous sources who blamed the alleged incident on the Scattered Spider hacker group.
The attack reportedly began a few days before the start of September. It had been preceded by one of Caesars Entertainment’s third-party IT vendors getting compromised, according to Bloomberg.
Caesars Palace hotel and casino in Las Vegas is shown on July 28, 2023. (Bridget Bennett / Bloomberg / Getty Images)
The alleged hackers received a payment worth tens of millions of dollars from the company during the incident, the outlet reported.
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FOX Business reached out to the hotel and casino company for comment.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| CZR | CAESARS ENTERTAINMENT INC. | 52.22 | -0.13 | -0.25% |
Brands such as Caesars Palace, Eldorado and Harrah’s fall under Caesars Entertainment’s umbrella. The company has seen a total of $5.7 billion in net revenues over the first two quarters of the year, including $2.88 billion in the second quarter. Its net income across the two quarters, meanwhile, came in at $784 million.
The Scattered Spider hacker group allegedly perpetrated the incident. (iStock / iStock)
Bloomberg reported that a likely soon-to-be-filed form with regulators would divulge the hack on Caesars Entertainment.
Caesars Entertainment Inc
MGM Resorts International also became the victim of a cyberattack this week.
MGM CYBERATTACK CONTINUES TO CREATE CHAOS FOR VEGAS OPERATIONS; SEC NOTIFIED
“MGM Resorts recently identified a cybersecurity issue affecting certain of the Company’s systems. Promptly after detecting the issue, we began an investigation with assistance from leading external cybersecurity experts. We also notified law enforcement and are taking steps to protect our systems and data, including shutting down certain systems,” MGM said, according to a Securities and Exchange Commission filing.
A man walks in front of the Cotai MGM hotel resort in Macau on March 15, 2023. (Eduardo Leal / AFP / Getty Images)
“Our investigation is ongoing, and we are working diligently to resolve the matter,” it continued. “The Company will continue to implement measures to secure its business operations and take additional steps as appropriate.”
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| MGM | MGM RESORTS INTERNATIONAL | 41.48 | +0.02 | +0.05% |
Bloomberg reported that the cyberattack on MGM may have involved Scattered Spider and another hacker group.
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Shares of MGM Resorts International saw a 1.2% drop from where they started Wednesday morning. Meanwhile, the value of Caesars Entertainment’s was 2.7% lower.
Joe Toppe and Greg Wehner contributed to this report.
