Massacre is worst in modern US history
MGM says it will pay up to $800 million to the victims of the Route 91 Harvest Festival massacre that happened two years ago in Las Vegas. Fifty-eight people were killed and hundreds more injured at the Route 91 Harvest Festival on October 1, 2017 after 64-year-old Stephen Paddock of Mesquite, NV opened fire to a crowd of 40 thousand from the 32nd floor of the MGM-owned Mandalay Bay Hotel and Casino during Jason Aldean’s closing performance. The settlement comes two days after the two year anniversary of the tragic event.
“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,” states Jim Murren, Chairman and CEO of MGM Resorts. “We have always believed that 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.”
“Today’s agreement marks a milestone in the recovery process for the victims of the horrifying events of 1 October,” shares Robert Eglet, a lead Plaintiffs’ Counsel. “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. MGM Resorts is a valued member of the Las Vegas community and this settlement represents good corporate citizenship on their part. We believe that the terms of this settlement represent the best outcome for our clients and will provide the greatest good for those impacted by these events.”
Under the Settlement Agreement, the parties will dismiss and release all pending litigation, including claims against MGM Resorts and additional parties named in those claims, and the declaratory-relief actions filed by MGM Resorts. The proposed settlement is not an admission of liability by MGM Resorts.
An independent Claims Administrator will be appointed by the court to allocate the settlement fund among the Participating Claimants. The settlement fund will be funded by MGM Resorts’ insurers with a minimum of $735 million. MGM Resorts has insurance coverage of $751 million.
The entire process is expected to be completed by late 2020.
The shooting is the worst in modern American history. Paddock had more than ten fully loaded weapons in his hotel room where he spent more than ten minutes firing automatic weapons at patrons of the country music festival below.
MGM owns the site of the massacre known as The Village. The company plans to turn it into a memorial and community center.
“We know that for many, the Village property will forever be linked to the tragic loss of life that took place there on October 1st. We will never forget the victims, and all of those impacted by that evening. As the second anniversary nears, we remain committed to being part of the community effort to continue healing and moving forward. In this spirit, MGM Resorts plans to build a community and athletic center on the north end of the property, which will be home to sporting events and community gatherings. We hope one day it will host high school basketball tournaments, indoor soccer for kids and provide a place for the Aces to practice and engage with the community to inspire the next generation of female athletes. It was important to us that the long-term use of the property include the community in some way. We also plan to create a space on the property to remember the victims of the tragedy,” the company says in a statement.
“In the near term, while these plans are underway, the property will revert back from festival grounds to a parking area and will serve as parking during games and concerts taking place at Allegiant Stadium. Over the coming weeks and months, there will be construction activity near the property to ensure the safety of pedestrians crossing the street toward the stadium. We will share plans for the community and athletic center as they advance. We will also support the future community effort around a permanent, public memorial when that process begins.”
Live Nation has not announced future plans for the continuation of the Route 91 Harvest Festival.