More than 4,400 relatives and victims of the deadly Las Vegas concert massacre are set to receive $800 million in payouts from MGM Resorts International and its insurer after a judge Wednesday approved the massive settlement deal.
The judge’s decision comes just before the third anniversary of the Oct. 1, 2017 shooting in which 58 people were killed and another 850 were injured when gunman Stephen Paddock opened fire, using military-style weapons, into a concert crowd that had some 22,000 attendees.
In approving the settlement deal, Clark County District Court Judge Linda Bell noted there was “near-unanimous participation in the settlement among potential claimants.”
MGM Resorts did not admit any liability in the agreement — which settles dozen of victim lawsuits. The hotel chain and its insurance companies are splitting the payout cost — $49 million and $751 million respectively.
Plaintiff lawyer Robert Eglet said he believes that victims could begin receiving payments by the end of the year, and once all the money has been dispersed, it will closeout the case.
“There’ve been no objections and we expect no appeals,” Eglet said. “We’ll send out notices of the order. After 30 days the $800 million will be deposited.”
The lawyer said that the most gravely injured victims could receive payments in the millions while a minimum of $5,000 could go to the victims who filed claims for unseen injuries.
“We are grateful that the decision brings families, victims and the community closer to closure,” MGM resorts said in a statement calling the upcoming anniversary “a time of great sadness and reflection.”
Paddock — a 64-year-old retired accountant and high-stakes poker play — killed himself before cops could arrest him.
With Post wires