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

COVID-19 recovered cases continue to rise in Alberta

69 more recoveries Tuesday, bringing the total to 6,048

Rimbey RCMP respond to 42 calls for service

Files include: 2 impaired driving investigations, 3 thefts of vehicles and 2 assault complaints

Bentley Farmers Market to open June 6; Lacombe Wednesday Market waiting for Music in the Park

Precautions and protocols lead to board approval of Bentley Market

Rimbey Hair Salons are happy to be back in business

“It feels good to be back open.”

Facing changes together: Your community, your journalists

The Rimbey Review covers the stories that matter to you and to our community

Calgary bans businesses that claim to change sexual orientation or gender identity

Calgary bans businesses that claim to change sexual orientation or gender identity

Canada outspends Ireland, Norway in new pledging on Venezuelan refugee crisis

Canada outspends Ireland, Norway in new pledging on Venezuelan refugee crisis

‘I can’t live on:’ Daughter of man fatally shot by Regina police seeks answers

‘I can’t live on:’ Daughter of man fatally shot by Regina police seeks answers

Alberta legislature to resume with COVID work, other bills, sitting into July

Alberta legislature to resume with COVID work, other bills, sitting into July

Walt Disney World presenting plans for reopening parks

Walt Disney World presenting plans for reopening parks

‘Amazing Race Canada’ wins big on second night of Canadian Screen Awards

‘Amazing Race Canada’ wins big on second night of Canadian Screen Awards

Quebec to loan up to US$200 million to struggling Cirque du Soleil

Quebec to loan up to US$200 million to struggling Cirque du Soleil

UNB board votes to strip name from law faculty building over links to slavery

UNB board votes to strip name from law faculty building over links to slavery