BREAKING: Settlement between Victims and MGM over Las Vegas Massacre Up to $800 Million

KNX 1070
October 03, 2019 - 1:49 pm

Associated Press

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 A settlement of up to $800 million is expected for the victims of the Las Vegas massacre, according to lawyers for the victims.

The settlement deal, announced Thursday morning, was between MGM Resorts and victims of the shooting and is between $735 million to $800 million.

 MGM's insurance company will evaluate claims, and pay settlements, by the end of next year.    

In a statement, MGM says the decision to settle is no way an admission of liability in the concert massacre fired from the 32nd floor.

Most of the victims were from Southern California. Fifty-eight people were killed in the mass shooting. At least 700 people were injured.

This month marks two years since the Route 91 concert massacre. 

The shooter, 64-year-old Stephen Paddock, was in a 32nd floor Mandalay Bay hotel suite.

At least 2500 lawsuits against MGM allege lapses in hotel security allowing the shooting to happen.

In May, in a disclosure to stockholders, MGM said it was "reasonably possible that a settlement will be reached."