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As the MGM cyber incident continues, the effect on is financial statements also continues. With predictions that the firm could be losing as much as $8.4 million per day, and on daily revenues of $42 million it’s a significant figure.
The hack has demonstrated the effect a hack can have on a complex technology enabled business, with slot machines, hotel check-in and room services, pay role, payments and OT enabled devices all effected. If as reported in some quarters, the attack was related to Okta and access to Active Directory. This ties with the breadth and depth of attack and its effects.
One has seen a drop in share price with rebound, but with markets circling one suspect that the effect on revenues and operational performance cannot be sustained for long.
Ted Dziekanowski
#cybersecurity #cyberriskmanagement #cyberregulation
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