Did gambling operator Boyd Gaming pay ransom in cyberattack? Company won't say
Published in Business News
LAS VEGAS — Boyd Gaming Corp. isn’t saying whether it paid a ransom to cybercriminals who broke into its internal information technology systems.
The company, which operates 11 local properties, including three in downtown Las Vegas, reported the cyberattack Tuesday in a filing with the Securities and Exchange Commission. It didn’t say when the attack occurred or when and how it was discovered.
In a Wednesday email, Las Vegas-based Boyd said it would have no further comment beyond the five-paragraph notice in its SEC 8-K filing.
“Upon detecting the incident, the company promptly took steps to respond to the incident with the assistance of leading external cybersecurity experts and in cooperation with federal law enforcement authorities,” the filing said.
In two high-profile cyberattacks against casino companies in 2023, the victims responded in different ways — Reno-based Caesars Entertainment Inc. reportedly paid a $15 million ransom to criminals who broke into its system in August, while MGM Resorts International, attacked in September, did not. MGM systems were down nine days, inconveniencing thousands of customers.
MGM said the attack against its company ultimately cost it an estimated $100 million.
Boyd isn’t expecting any material costs to its company.
“As of the date of this filing, the company believes that the incident will not have a material adverse effect on the company’s financial condition or results of operations. The company maintains a comprehensive cybersecurity insurance policy, which we expect will cover costs associated with incident response and forensic investigations, as well as business interruptions, legal actions and regulatory fines, if any, subject to policy limits and deductibles,” Boyd’s SEC filing says.
MGM indicated cyberattackers used social engineering — the manipulation of employees to inadvertently divulge sensitive information — to gain access to its computers and telecommunications systems.
Boyd has not said how it believes criminals accessed its systems.
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