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

Just Posted

Duncan Sikh community marks founder’s 550th birthday

Guru Nanak is revered as founder of Sikhism

Victoria event celebrates 100 years of Indian settlement in Canada

The event will be held at Victoria City Hall from 5:30 p.m. to 7:30 p.m.

Drivesmart column: Is it safe to open your door?

He parked at the side of the road, opened his door, and a passing car tried to tear it off!

Gogo Band rings in the new year in Crofton with high-energy show

Osborne Bay Pub favourites return to provide the party atmosphere

Robert Barron column: There are heroes among us

The five men who I saw bundled up and sped away in ambulances tried their best to save him

VIDEO: ‘Holiday Magic’ when Celtic Rhythms and Summit Dance joined forces in Duncan

Fun and frolic combined with more serious selections to make a satisfying evening for everyone

B.C. universities post $340 million worth of surpluses thanks to international student tuition

Students call for spending as international enrolment produces huge surpluses at many universities

Conservatives urge Morneau to deliver ‘urgent’ fall economic update

Morneau says the first thing the Liberals plan to do is bring in their promised tax cut for the middle class

INFOGRAPHIC: How much money did your local university or college make last year?

B.C. university and colleges posted a combined $340 million surplus in 2018/19

B.C. creates $8.5M organization to improve safety for health care workers

Group will bring together unions, province, health care organizations

Kovrig clings to humour as ‘two Michaels’ near one year in Chinese prison

Their detention is widely viewed as retaliation for Canada’s arrest of Chinese high-tech scion Meng Wanzhou

B.C. VIEWS: An engine that hums right along

First Nations are leading a new surge of investment in B.C.

Brain injury from domestic abuse a ‘public health crisis,’ says B.C. researcher

Nearly 80% of the domestic violence victims who reported to police last year were women

Most Read