MGM Resorts (NYSE:MGM) shares are in focus today due to a major systems outage at the casino and entertainment giant. Yesterday, the company announced that a cybersecurity issue caused the shutdown of some of its casino and hotel computer systems. The issue has impacted multiple MGM properties, and the company has engaged external cybersecurity experts in its investigation.
Furthermore, some customers have been unable to log onto the BetMGM website in Nevada. The MGM Resorts International website also remains unavailable, but customers can make hotel reservations via telephone.
It appears that the cyber issue has not been resolved yet. In the meantime, MGM has notified law enforcement agencies and has taken steps to safeguard its data.
Overall, the Street has a consensus price target of $58.21 for MGM, alongside a Strong Buy consensus rating. This points to a 37% potential upside in the stock, on top of a 27.6% price gain so far this year.
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