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

Boundary non-profits now eligible for emergency funds

Local charities can apply to get grants from the $40,000 pot, managed by the Phoenix Foundation

Drive-in theatre proposed for Grand Forks

City councillors will vote next month on whether to permit the use of the private property

A second wave of COVID-19 is probable, if history tells us anything

B.C.’s top doctor says that what health officials have learned this round will guide response in future

Snow expected to hit West Kootenay passes overnight on Thursday

Up to 15 cm of snow could fall on Highway 3 between Paulson summit to Kootenay Pass by Friday morning

Six homes ordered to evacuate early Tuesday morning in Grand Forks due to flooding

Two of the six were put on evacuation alert Monday evening

B.C. legislature coming back June 22 as COVID-19 emergency hits record

Pandemic restrictions now longer than 2017 wildfire emergency

B.C.’s essential grocery, hardware store employees should get pandemic pay: retail group

Only B.C.’s social, health and corrections workers are eligible for top-ups

Edmonton, Vancouver and Toronto vying to be NHL hubs, but there’s a catch

The NHL unveiled a return-to-play plan that would feature 24 teams

B.C. sees 9 new COVID-19 cases, one death as officials watch for new cases amid Phase Two

Number of confirmed active cases is at 244, with 37 people in hospital

Nanaimo senior clocked going 50 km/hr over limit says her SUV shouldn’t be impounded

RCMP say they can’t exercise discretion when it comes to excessive speeding tickets

Illicit-drug deaths up in B.C. and remain highest in Canada: chief coroner

More than 4,700 people have died of overdoses since B.C. declared a public health emergency in early 2016

CMHC sees declines in home prices, sales, starts that will linger to end of 2022

CMHC said average housing prices could fall anywhere from nine to 18 per cent in its forecast

B.C. Paralympian named to Canada’s Sports Hall of Fame

Three-time world and Paralympic gold medalist Sonja Gaudet is part of 11-member class

Restorative pole project underway in Edgewood

The pole was made almost 50 years ago to pay respect to local First Nations

Most Read