Las Vegas Shooting Victims Reach $800M Settlement From MGM Resorts

It has been reported that the victims of the Las Vegas shooting massacre have reached a settlement agreement with MGM Resorts, with the settlement number said be worth up to $800 million. According to the Daily Mail, Las Vegas law firm Eglet Adams announced the details of the settlement deal on Thursday, but it is unknown how many victims will be participating in the settlement. This will undoubtedly have an impact on the final amount that is paid out. Notably, the settlement agreement comes just days after the two-year anniversary of the devastating tragedy.

Jim Murren, chairman and CEO of MGM Resorts, issued a statement on the settlement agreement, stating, "Our goal has always been to resolve these matters so our community and the victims and their families can move forward in the healing process."

"This agreement with the plaintiffs' counsel is a major step, and one that we hoped for a long time would be possible," he added.

Las Vegas shooting massacre victims reach settlement with MGM Resorts worth up to $800million https://t.co/3ZWQlXAbEh pic.twitter.com/m0BOgu5eqF

— Daily Mail US (@DailyMail) October 3, 2019

Per the Daily Mail, attorneys and MGM also revealed that the courts will choose an independent administrator to dispense the settlement fund payments. They expect to complete the process by sometime in late 2020.

Insurers for MGM will fund a minimum of $735 million, but depending on how many victims participate the company could be required to contribute more. Possibly up to $800 million, as stated by the attorneys for the victims.

Two years ago today, a gunman killed 58 people in the Las Vegas shooting.

The trauma still lingers. Some survivors aren't yet back to work. Others await surgery. Widows are raising children alone.

"We know we're never going to have our old life back."https://t.co/2GsQ5vtmA0

— NPR (@NPR) October 1, 2019

Robert Eglet, a lead plaintiffs' counsel, said a statement, "Today's agreement marks a milestone in the recovery process for the victims of the horrifying events of 1 October."

"While nothing will be able to bring back the lives lost or undo the horrors so many suffered on that day, this settlement will provide fair compensation for thousands of victims and their families," he added, also saying that the deal "represents good corporate citizenship" by MGM Resorts.

The tragic Route 91 Harvest Festival shooting took place on Oct. 1, 2017, with 58 people being left dead when the shooter opened fire on the crowd from his hotel room.

Many have taken to social media in the past day to comment on the painful anniversary, with Democratic presidential hopeful Sen. Kamala Harris tweeting out, "Two years ago today, our nation witnessed the worst mass shooting in modern American history. 58 people lost their lives in the Las Vegas shooting — yet Congress refused to act. As we honor the lives lost & the courage of first responders, let's commit to action."