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

Two men killed in Hwy 3 collision west of Castlegar

The single-vehicle incident happened Thursday morning

Nelson considering new Hall Street pier as part of COVID-19 economic stimulus plan

Pier needs replacing, with possible designed public space added

Central Mountain Air to offer flights out of Castlegar

The company will be offering Castlegar to Vancouver flights October 1.

Health ministry to hire 33 new practitioners for Kootenay Boundary

Over 15,000 people in the region don’t have access to a primary care provider

Housing situation in RDCK very difficult, says report

One in five RDCK households are living in homes costing nearly a third of their income

Record-breaking 165 new COVID-19 cases diagnosed in B.C. in 24-hour period

Fifty-seven people are in hospital battling the novel coronavirus

Interior Health reports four new cases of COVID-19

First hospitalization since mid-August announced

March to protect old growth, stop industrial logging coming to B.C. Legislature

Organizers say they want to give frontline communities a bigger say in nearby logging

B.C. releases details of $1.5B economic recovery plan, $660M in business tax incentives

Economic plan includes support for employers, as well as training for workers

‘Not criminally responsible’ hearing slated for man convicted of Abbotsford school stabbing

Gabriel Klein was found guilty in March of killing Letisha Reimer, 13, in 2016

Conservation groups blast province for logging in caribou habitat near Revelstoke

In the last year, 104 cuts have been approved near Revelstoke in caribou habitat

B.C.’s 1st mental health and addictions minister won’t be seeking re-election

MLA Judy Darcy is the fifth cabinet minister not intending to run in the next election

Most Read