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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

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Nov 21 4:00 PM EST

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From: Julius Wong	9/13/2023 9:39:22 PM
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Hackers in the casino: MGM Resorts sees ongoing disruption while Caesars pays a ransom Sep. 13, 2023 4:15 PM ET Caesars Entertainment, Inc. (CZR) MGM By: Clark Schultz, SA News Editor 12 Comments tanawit sabprasan Caesars Entertainment (NASDAQ: CZR) is expected to disclose in a regulatory filing that it paid tens of millions of dollars to hackers who hacked into the company’s systems in recent weeks and set a ransom demand. Sources told Bloomberg that the group responsible is known as Scatter Spider or UNC 3944, and is experienced at social engineering tricks to gain access to a corporate network. A different hacking group is believed to be responsible for the hacking incident that disrupted systems at MGM Resorts ( MGM) this week. Reports indicate the hackers identified an employee to impersonate by searching through LinkedIn, and then gained access after a short phone call to the company IT help desk to establish new credentials. Caesars is expected to disclose the cyberattack in a regulatory filing imminently, the people said. The disclosure of the alleged Caesars breach comes as another Las Vegas entertainment giant, MGM Resorts International, announced that it was hacked earlier this week. The breach impacted everything from MGM's ( MGM) casino floor to online bookings. As of Wednesday afternoon, some MGM websites were still being impacted. Shares of MGM fell 1.25% on Wednesday and is down more than 5% over the last week. Caesars Entertainment ( CZR) shed 2.75% on Wednesday and is off just short of 3% for the last week.

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