Reports Show the Casino Industry Remains at Risk for Cyberattacks

Cyberattacks targeting financial institutions and casinos are not a new phenomenon. Considering the significant amounts of money that these organizations handle, it is no surprise that they are attractive targets for hackers. While some of these attacks are unsuccessful, others result in losses that can amount to millions of dollars.

In the previous year, MGM Resorts International, a prominent gaming and hospitality company, fell victim to a damaging cyberattack. The cybersecurity breach caused a temporary disruption to the company’s operations, impacting aspects such as hotel reservations, slots, and other amenities.

Around the same time, another leading gambling operator, Caesars Entertainment, also found itself targeted by a cyberattack. While MGM Resorts did not pay any ransom, Caesars reportedly settled the matter by making a payment. Regardless of how each incident was resolved, they both served as a stark warning about the dangers of cyberattacks within the growing gambling industry.

A recent report indicates that the casino industry worldwide remains a primary target for cyberattacks, and there is no guarantee that companies that have been victimized will not be targeted again. Cybersecurity expert Dan Lohrmann emphasized the importance of proactive monitoring and combating cybersecurity threats. He cautioned that casino operators who fail to take appropriate action after falling victim to a cyberattack may become targets for further attacks.

Lohrmann pointed out that in some cases, companies have been hit, paid ransoms, made no changes, and then found themselves targeted once again by hackers just two weeks later. He stressed that once a gambling operator has been impacted by a cyberattack, they essentially have a “target on their back” and are at risk of subsequent threats from the same or other groups.

Lohrmann, who will be a speaker at the upcoming World Game Protection Conference at the Tropicana Las Vegas, highlighted the importance of taking strategic steps to reduce the likelihood of a breach and ransomware attack. He underscored that the two major cyberattacks against MGM and Caesars last year served as a wakeup call for the entire sector.

As the casino industry continues to face the threat of cyberattacks, experts like Lohrmann play a crucial role in helping companies understand the risks and take necessary precautions to protect themselves against future breaches.

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