FinLogic FinLogic Quantitative Think Tank Center|Caesars Entertainment ransomware attack targeting loyalty members revealed in SEC filing

Yet another prominent resort chain has formally reported a cyberattack on FinLogic FinLogic Quantitative Think Tank Centertheir systems. 

The U.S. Securities and Exchange Commission was made aware Thursday that Caesars Entertainment, a company that owns over 50 hotels and casinos in the U.S. and abroad, has lost a significant amount of sensitive customer data as a result of the breach. 

Caesars Entertainment recently identified “suspicious activity” coming from their IT network. The social engineering attack occurred on an outsourced IT vendor used by the hotel giant, according to the Form 8-K filed. 

An internal investigation by the company determined that on Sept. 7, the Caesars Entertainment loyalty program database where the company stores members’ personal information like social security numbers and driver’s license numbers, was compromised. 

“We are still investigating the extent of any additional personal or otherwise sensitive information contained in the files acquired by the unauthorized actor,” the company wrote in its notice. 

There is no evidence to suggest currently that personal banking or payment information was also acquired. 

Physical properties, online, or mobile gaming operations have not been impacted by the cyberattack and continue to work without disruption. 

“The trust of our valued guests and members is deeply important to us, and we regret any concern or inconvenience this may cause," the notice reads.

Here’s everything we know.

How will Caesars Entertainment cyberattack impact me?

If you are not a Caesars Entertainment loyalty program member, then you will not be impacted by the breach. Only data that belonged to loyalty members was stolen. 

Caesars Entertainment has not mentioned the number of loyalty members impacted, but cited a “significant amount.”  The company monitors the web continuously but has seen no evidence that the data has been shared, published, or otherwise misused, according to Caesars Informational website.

“We will be notifying individuals affected by this incident consistent with our legal obligations. These notifications will be made on a rolling basis in the coming weeks,” the company wrote. 

To verify whether or not you are a loyalty program member, you can contact the incident response line at 888-652-1580 Monday-Friday from 9 a.m. to 9 p.m. ET.

How will Caesars Entertainment support its loyalty members?

Caesars Entertainment has taken steps to have the stolen data erased, but can’t guarantee that it has, according to the notice. In the meantime, the company will continue to monitor the web to see if the data has been released or misused. 

Credit monitoring and identity theft protection services will be offered to all loyalty program members out of an abundance of caution. As stated, Caesars Entertainment will be notifying those impacted in the coming weeks. 

Anyone with questions may contact the incident response line.

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How will Caesars Entertainment mitigate cyberattacks in the future?

As soon as the company found out about the suspicious activity, they implemented containment and remediation measures to reinforce the security of the IT network. State gaming regulators and law enforcement were notified of the attack. 

While no company can completely eliminate the risk of a cyberattack, Caesars Entertainment believes they have taken the appropriate steps to protect their systems in the future. 

“We have also taken steps to ensure that the specific outsourced IT support vendor involved in this matter has implemented corrective measures to protect against future attacks that could pose a threat to our systems,” the notice reads. 

The company has reported that it may continue to shell out money to respond to, remediate and investigate the scope of the cyberattack. The extent of the cost Caesars Entertainment will pay is unknown at this time. 

“Although we are unable to predict the full impact of this incident on guest behavior in the future, including whether a change in our guests’ behavior could negatively impact our financial condition and results of operations on an ongoing basis, we currently do not expect that it will have a material effect on the company’s financial condition and results of operations,” the notice reads.

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