MGM Resorts has reached a $735 million settlement in lawsuits from the 2017 Las Vegas shooting, the third-largest victims compensation fund in U.S. history.
Depending on the number of claimants, that amount could grow even further to a staggering $800 million, according to the New York Post. The number of claimants is large, with one lawyer, Mo Aziz, representing more than 1,300 people on the Las Vegas strip the night that the shooter opened fire from the Mandalay Bay Hotel into a crowded country music concert.
The shooter, 64-year-old Stephen Paddock, killed 59 people and injured 851 others. The lawsuits are representing victims who claim that MGM Resorts did nothing to prevent Paddock from bringing 23 assault weapons, bump stocks, and a large cache of ammunition into the hotel room in which he was staying, and from where he sprayed concertgoers with bullets.
“While we cannot eliminate the physical and emotional scars suffered by the thousands of people impacted by this tragic event, we hope this resolution will provide some sense of closure to our clients,” Aziz said.
“In this era of mass shootings, this settlement sends a strong message to the hospitality industry that all steps necessary to prevent mass shootings must be taken,” he added.
In order to disburse the funds to the victims, a court will appoint an independent administrator. The settlement should be concluded by late 2020.
“This agreement with the plaintiffs’ counsel is a major step, and one that we hoped for a long time would be possible,” said Jim Murren, chairman and CEO of MGM Resorts.
