MGM Resorts recently told federal regulators that they’ll pay $800 million to settle the numerous liability lawsuits they have been dealing with since the deadly mass shooting that took place in Las Vegas in 2017. Attorneys that are dealing with the case say that these settlement talks are premature.
Attorney Robert Eglet is involved with the case and spoke with the Insurance Journal about these rumors. “We’re not even close to resolving all the terms and issues before we have a settlement,” said Eglet. It’s true that a settlement is possible,” Eglet continued. “But I will tell you it’s not probable. Nothing is signed. We have a long way to go before we have an agreement.”
Over 4,200 people are considered claimants in this case against MGM. They claim that MGM Resorts, which owns the Mandalay Bay hotel that the shooter fired from, did fulfill their legal obligation to protect the 22,000 people who attended the music festival near the hotel.
This legal battle has been ongoing for several years now, with MGM becoming litigious themselves. Those who have been following this story will remember when MGM sued over 1,900 victims in an attempt to consolidate these claims into one federal court.
MGM seems confident that they will settle somewhere between $735 million and $800 million, despite claims that this isn’t true. A settlement in that range would be good news for MGM, since they will receive $751 million in insurance payouts.
MGM Resort company spokeswoman Debra DeShong did reveal that progress has been made over the last several months of mediation. DeShong went on to say that the goal is “to resolve these matters so that all impacted can move forward in their healing process.”
As of now, there is no clear timeline for when this litigation will finally reach an amicable conclusion. It is not unreasonable to expect that these proceedings will drag on for at least a few months more.