On September 29, 2023, MGM Resorts determined that an unauthorized third party obtained personal information of some of its customers on September 11, 2023.

The affected information included name, contact information, gender, date of birth, and driver's license number. However, at this time, the company does not believe that customer passwords, bank account numbers or payment card information were obtained by the criminal actors.

After detecting the issue, the company responded by shutting down its systems to mitigate risk to customer information, which resulted in disruptions at some of its properties. The company's operations at domestic properties have returned to normal and virtually all of its guest-facing systems have been restored.

The company has also incurred less than $10 million in one-time expenses in Q3 related to the cybersecurity issue, which consisted of technology consulting services, legal fees and expenses of other third party advisors.

MGM sees occupancy to be 93% in October and to fully rebound in November for the Las Vegas Strip Resorts.

Price Action: MGM shares closed lower by 1.05% at $34.79 on Thursday.