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Massive cost of MGM hack laid bare

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MGM Resorts International fell victim to a devastating computer hacking incident that paralyzed several of its casino and hotel services, ultimately costing the company a staggering $100 million in lost profits.

This high-profile cyberattack has sent shockwaves through the hospitality and gaming industry.

The breach, which occurred last week, left MGM Resorts scrambling to restore its compromised systems and services. Guests were met with chaos as check-in and check-out processes were disrupted, reservations vanished, and key amenities like restaurants and entertainment venues experienced operational hiccups. The casino giant’s online platforms also faced downtime, hindering the experience for its virtual gaming enthusiasts.

Cybersecurity experts were called in immediately to investigate the breach’s origins and extent. Preliminary findings suggest that sophisticated hackers infiltrated MGM Resorts’ network, potentially accessing sensitive guest information. While the company has assured guests that no financial data was compromised, the breach has raised concerns about the safety of personal information.

MGM Resorts’ stock price plummeted following the attack, and the company is now working tirelessly to regain the trust of its customers and investors.

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Why the meme-stock frenzy is unlikely to repeat

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GME shares surge 74%, but experts stress a meme-stock frenzy resurgence is unlikely due to fundamental differences in the company’s financial situation.

Australia’s budget unveils a second consecutive surplus of A$9.3 billion, prioritising the critical minerals industry and green energy initiatives to reduce reliance on Chinese supply.

Also, GameStop shares have surged 74%, but experts caution against expecting a repeat of the 2021 meme-stock frenzy. #featured #trending

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Why are airlines after the Biden Administration?

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Major airlines are taking legal action against the Biden administration over a newly implemented rule requiring them to disclose fees upfront.

On this episode of Hot Shots – Major airlines are suing the Biden Administration, AI-piloted fighter jets, SpaceX faces funding challenges, and Apple receives crushing feedback.

Ticker’s Ahron Young & Veronica Dudo discuss. #featured #trending

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The mounting pressure on Government spends

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Questions abound regarding the factors fueling this inflation surge in Australia and whether it correlates with the escalating government expenditures.

Concerns extend to how Chalmers navigates the mounting pressure amid discrepancies in spending allocations.

Moreover, as Australians grapple with the reality of rising living costs, the feasibility of cutting spending becomes a pressing issue. Additionally, amidst economic uncertainties, individuals seek guidance on managing stock market risks effectively. #Featured #Trending

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