MGM Resorts reports $800M 'possible' Vegas settlement figure
By KEN RITTER
LAS VEGAS (AP) - Casino giant MGM Resorts is telling federal regulators it thinks it might pay up to $800 million to settle liability lawsuits stemming from the October 2017 mass shooting that became the deadliest in modern U.S. history.
The company also tells the Securities and Exchange Commission it is insured for $751 million of that amount.
However, a Las Vegas plaintiffs' lawyer heading out-of-court talks with the company is calling it premature for MGM Resorts to report that it's "reasonably possible" a settlement will be reached by May 2020.
Attorney Robert Eglet says nothing is signed. He calls the company figure "not probable."
Eglet represents about 4,200 claimants who say they were harmed when a shooter rained gunfire from a Mandalay Bay resort suite into an open-air concert, killing 58 people and injuring more than 800.
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