Las Vegas shooting victims reach settlement with MGM of up to $800 million

Owner of Mandalay Bay faces hundreds of lawsuits after gunman opened fire on outdoor concert in 2017

FILE - In this Oct. 3, 2017, file photo, windows are broken at the Mandalay Bay resort and casino in Las Vegas, the room from where Stephen Craig Paddock fired on a nearby music festival, killing 58 and injuring hundreds on Oct. 1. (AP Photo/John Locher, File)

Attorneys for thousands of victims of the deadliest mass shooting in modern U.S. history said Thursday that they reached a settlement expected to pay between $735 million and $800 million to those who sued over the Las Vegas massacre.

The amount of the settlement with MGM Resorts International depends on the number of plaintiffs who take part, according to a statement from Las Vegas law firm Eglet Adams, which represents nearly 2,500 victims and made the announcement just days after the second anniversary of the massacre.

READ MORE: Trump ‘disappointed’ FBI can’t find motive in Vegas shooting

Hundreds of lawsuits have been filed against the owner of the Mandalay Bay resort where the gunman opened fire into an outdoor concert on Oct. 1, 2017. The casino giant also owns the venue where 58 people died and hundreds were injured.

“Our goal has always been to resolve these matters so our community and the victims and their families can move forward in the healing process,” said Jim Murren, chairman and CEO of MGM Resorts. “This agreement with the plaintiffs’ counsel is a major step, and one that we hoped for a long time would be possible.”

An independent administrator will be appointed by a court to dole out money from the settlement fund, attorneys and MGM said. They expect to wrap up the process by late next year.

MGM’s insurers will fund a minimum of $735 million. Depending on the number of victims who participate, the company will contribute more, up to $800 million, according to the victims’ attorneys.

“Today’s agreement marks a milestone in the recovery process for the victims of the horrifying events of 1 October,” Robert Eglet, a lead plaintiffs’ counsel, said. “While nothing will be able to bring back the lives lost or undo the horrors so many suffered on that day, this settlement will provide fair compensation for thousands of victims and their families.”

READ MORE: Family honours B.C. man killed in 2017 Las Vegas shooting

He said the deal “represents good corporate citizenship” by MGM Resorts.

The Associated Press

Like us on Facebook and follow us on Twitter

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Seeds of Change Surrey to launch two new programs

United Way of the Lower Mainland donated $77,000

White Rock RCMP to host free bicycle registration clinic

Stolen registered bicycles are easier to return to proper owner if recovered

White Rock Concerts subscription series plans to weather pandemic

The White Rock Concerts series cancelled its 2020-21 season due the uncertainty of health risks

Surrey firefighters extinguish blaze near Fraser Surrey Docks

Crews used aerial truck to contain Friday evening fire

VIDEO: Otter pups learn to swim at B.C. wildlife rescue facility

Watch Critter Care’s Nathan Wagstaffe help seven young otters go for their first dip

Fraser Valley Bandits clinch playoff spot with win

Bandits down Niagara River Lions 70-57 on Sunday, improve to 3-2

Alleged impaired driver sparks small wildfire near Lytton after crash: B.C. RCMP

Good Samaritans prevented the blaze from getting out of control

Travel restrictions inspiring co-operation in border communities

Small border towns are asking for exemption to travel ban

B.C. First Nation adopts ‘digital twinning’ software to better manage territory

Software allows users to visualize what a mountain might look like if the trees on its slopes were logged

All inquiry recommendations implemented after fatal Port Hardy RCMP shooting: Ministry

The Independent Investigations Office of B.C. cleared the RCMP officers involved of wrongdoing

VIDEO: One wounded in Maple Ridge gun battle

Two vehicles reportedly traded shots while driving down street

Most Read

l -->