Cybersecurity Expert Warns of the Dangers of Cyberattacks for Casinos

Cyberattacks against financial institutions and casinos are not uncommon. Considering the large amounts of money those organizations are in charge of, it comes as no surprise that they are targeted by hackers. While some cyberattacks fail, others succeed, resulting in losses that can be upwards of millions of dollars.

Last year, MGM Resorts International, the renowned gaming and hospitality company, was the victim of a devastating cyberattack. The cybersecurity issue disrupted temporarily the company’s operations, impacting hotel reservations, slots and other amenities.

Around the same time, Caesars Entertainment, another leading gambling operator, was also the target of a cyberattack. While MGM Resorts did not pay any ransom, Caesars reportedly settled the matter by paying ransom. Regardless of how it was resolved, each incident warned about the dangers of cyberattacks against the growing gambling industry.

Now, according to a recent report, the casino industry across the globe remains a target for cyberattacks and there’s no guarantee that companies who have been victims would not be attacked once again. Cybersecurity expert, Dan Lohrmann, who was recently quoted by CDC Gaming Reports, spoke about the importance of proactive monitoring and combatting cybersecurity threats. He warned that casino operators who do not take appropriate action after they are targeted once by a cyberattack may fall victim to further attacks.

Lohrmann explained: “Companies have been hit, ransoms were paid, people didn’t make any changes, and hackers were back two weeks later and did the same thing.” He added that once a gambling operator is impacted by a cyberattack, they have a “target on their back” and can be subject to subsequent threats from the same or other groups.

Appropriate Steps Can Reduce the Likelihood of a Cyberattack

The cybersecurity expert will be a part of the upcoming World Game Protection Conference, scheduled at the Tropicana Las Vegas between February 27 and February 29. As a host of a panel titled after his book, “Cyber Mayday and the Day After,” Lohrmann will address some emerging cybersecurity issues and trends when it comes to cyberattacks.

He explained that a hot topic for the casino industry is the two major cyberattacks against MGM and Ceasars from last year. Moreover, Lohrmann confirmed that no one is safe from cyberattacks, adding that taking strategic steps can enable companies to “dramatically reduce the likelihood of a breach and ransomware attack.” He added that the two major cyberattacks against the gambling giants last year served as a “wakeup call” for the sector as a whole.