MGM China eyes $2B loan to expand Macau operations
MGM China, the Macau-based division of MGM Resorts, is reportedly looking to borrow a $2 billion loan to expand its Macau and Cotai operations and refinance existing debts.
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MGM and FTC near deal over 2023 cyberattack investigation
MGM Resorts and the U.S. Federal Trade Commission (FTC) are close to settling a deal over the investigation into the company’s 2023 cyberattack that disrupted MGM’s operations for days and exposed customer data.
After the cyber attack, the FTC started an investigation to determine whether MGM had the necessary security measures in place to protect sensitive customer information. The main question was to understand whether the attack took place as a result of a consumer protection law violation from MGM’s side.
Now, both sides are nearing an agreement to resolve the matter. While the exact terms are not shared with the public yet, the resolution in similar cases often includes financial penalties and commitments to improve data security practices.
MGM has not commented on the potential resolution, but the company previously stated that it had taken steps to strengthen its cybersecurity systems following the attack.
For the FTC, this case highlights the need to increase scrutiny on companies that handle large amounts of consumer data. Businesses in hospitality and gaming, which rely on digital systems, are particularly vulnerable to cyber threats. As cyberattacks become more and more common, companies must integrate stronger services in order to protect both their operations and customer trust.
MGM CEO to serve as Chair of US Travel Association
The US Travel Association, a national, non-profit organization representing and advocating for all components of the travel industry, named MGM President and CEO William...
