The settlement, according to MGM, is not an admission of any wrongdoing
A settlement has been reached between MGM Resorts International and the legal team representing the more than 1,300 victims and survivors of the mass shooting that unfolded at the climax of the Route 91 Harvest music festival in Las Vegas a little more than two years ago.
According to a statement from Mo Aziz of Houston, Texas, law firm Abraham, Watkins, Nichols, Sorrels, Agosto & Aziz, the amount of the settlement is valued at between $735 million and $800 million, “depending on certain participation goals.”
The October 1, 2017, shooting continued uninterrupted for nearly 10 minutes, claiming the lives of 58 and physically wounding more than 800 people. It is the deadliest mass shooting in modern U.S. history.
The gunman, 64-year-old Stephen Paddock, fired upon the crowd from two blown-out windows in his room on the 32nd floor of the Mandalay Bay casino, which is owned and operated by MGM.
Later, with law enforcement closing in on him, Paddock fatally shot himself.
Despite their investigative efforts, officials were unable to determine a motive.
“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,” the statement quotes Aziz as saying.
“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.
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A representative for MGM Resorts International could not be reached for comment.
The civil suit was filed on behalf of the shooting’s survivors and victims, and alleged negligence on the part of MGM.
The settlement essentially clears all lawsuits filed against MGM in the wake of the tragic incident.
An independent claims administrator will be appointed by a court to distribute money from a settlement fund.
The money should be distributed by the end of 2020.
NPR cites a statement from MGM Resorts Chairman and CEO Jim Murren indicating “prolonged litigation around these matters is in no one’s best interest. It is our sincere hope that this agreement means that scenario will be avoided.”
The agreement reached this week is not an admission of any wrongdoing by MGM, Murren added in the statement.