One of the world's largest gambling firms, MGM shut down its systems after detecting the attack to contain damage, it said. It expects to also incur less than $10 million as a related one-time cost in the quarter ended on Sept. The unions are demanding higher wages, stronger protections against new technology that may threaten jobs, lower housekeeping quotas and improved safety. Pappageorge said that negotiations were "very disappointing" and the companies did not make substantive wage proposals.

(Reporting by Zeba Siddiqui in San Francisco and Shivansh Tiwary in Bengaluru; Editing by Shilpi Majumdar and Tom Hogue) MGM said it is "well-positioned" to have a strong fourth quarter with record results in November, driven mainly by a Formula One racing event slated to take place in Las Vegas. The company expects the breach will have a negative impact of about $100 million to its adjusted property core profit for its Las Vegas Strip division, and expects total occupancy of 93% this October versus 94% in the same month a year ago.

Oct 5 (Reuters) - MGM Resorts International said on Thursday a cyberattack last month that disrupted its operations would cause a $100 million hit to its third-quarter results, as it works to restore its systems. Analysts who have tracked Scattered Spider say more and more organizations have been falling for the group's skilled social engineering schemes. The MGM data breach, which the FBI is investigating, is a vivid example of how large organizations remain vulnerable to cybercrime.

Sources earlier told Reuters AlphV worked with another outfit named Scattered Spider to break into MGM systems and steal data to hold for extortion. A hacking group named AlphV claimed it was involved in the breach. (Reporting by Doyinsola Oladipo in New York and Shivansh Tiwary in Bengaluru; Editing by Maju Samuel and Cynthia Osterman) He estimated wage increases could cost Caesars $40 million to $60 million a year and double that for MGM based on their employee count. MGM has said that every 1% increase in wages would add about $10 million to labor costs, according to Truist analyst Barry Jonas.

Tourism is the city's lifeblood and Las Vegas is gearing up for major events including a Formula 1 race expected to bring more than 100,000 tourists to the city in November. Some 95% of union members voted in September to authorize a citywide strike. Unions in the auto, rail, healthcare and other industries have kept companies off balance in recent months with labor actions. The unions are among the most powerful in the United States, representing 53,000 hospitality workers in Las Vegas.

In prior negotiations, a strike threat was enough to spur a deal, but these talks have been slow, union representatives said on Monday. The Culinary Workers and Bartenders Unions seek a new five-year contract with improved wages and benefits as casino operators post record profits. Should you loved this short article and you want to receive much more information with regards to game vault 999 online casino platforms generously visit our own webpage. Oct 9 (Reuters) - Thousands of Las Vegas workers will picket MGM Resorts and Caesars Entertainment casinos on Thursday for the first time in nearly two decades, the unions said, as they contemplate a possible strike.