Oct 3 (Reuters) – Survivors and family of 58 people who were slain in the deadliest mass shooting in modern U.S. history have reached a settlement of at least $735 million with MGM Resorts, a law firm representing the victims and MGM Resorts International said on Thursday.

MGM Resorts owns the Mandalay Bay Hotel in Las Vegas where Stephen Paddock, 64, fired over 1,100 rounds from his 32nd-floor suite into a crowd of 22,000 people at an outdoor country music festival on Oct. 1, 2017, slaying 58 and wounding 800 others before killing himself.

“While nothing will be able to bring back the lives lost or undo the horrors so many suffered on that day, this settlement will provide fair compensation for thousands of victims and their families,” Robert Eglet, a lead counsel representing some 2,500 plaintiffs in the case, said in a statement.

The total settlement amount might rise to $800 million, depending on how many claimants choose to participate, according to the law firm Eglet Adams.

RELATED: Scenes from Las Vegas shooting vigils and memorial services

45 PHOTOSHeartbreaking scenes from Las Vegas shooting vigils and memorial servicesSee GalleryHeartbreaking scenes from Las Vegas shooting vigils and memorial servicesLAS VEGAS, NV – OCTOBER 2: Mourners attend a candlelight vigil at the corner of Sahara Avenue and Las Vegas Boulevard for the victims of Sunday night’s mass shooting, October 2, 2017 in Las Vegas, Nevada. Late Sunday night, a lone gunman killed more than 50 people and injured more than 500 people after he opened fire on a large crowd at the Route 91 Harvest Festival, a three-day country music festival. The massacre is one of the deadliest mass shooting events in U.S. history. (Photo by Drew Angerer/Getty Images)NASHVILLE, TN – OCTOBER 02: People gather at the Ascend Amphitheater for a vigil honoring the victims of the mass shooting in Las Vegas on October 2, 2017 in Nashville, Tennessee. At least 58 people were killed and 500 wounded at the Route 91 Harvest Festival in Las Vegas Sunday night. (Photo by Joe Buglewicz/Getty Images)LAS VEGAS, NEVADA – OCTOBER 2: UNLV students reflect on words of wisdom dispersed during a candle light vigil for the victims of the mass shootings that killed 59 peopleand injured more than 525, in Las Vegas, Nevada, on Oct. 2, 2017. (Photo by Marcus Yam/Los Angeles Times via Getty Images)NASHVILLE, TN – OCTOBER 02: People gather at the Ascend Amphitheater for a vigil honoring the victims of the mass shooting in Las Vegas on October 2, 2017 in Nashville, Tennessee. At least 58 people were killed and 500 wounded at the Route 91 Harvest Festival in Las Vegas Sunday night. (Photo by Joe Buglewicz/Getty Images)NASHVILLE, TN – OCTOBER 02: People hand out candles at the Ascend Amphitheater for a vigil honoring the victims of the mass shooting in Las Vegas on October 2, 2017 in Nashville, Tennessee. At least 58 people were killed and 500 wounded at the Route 91 Harvest Festival in Las Vegas Sunday night. (Photo by Joe Buglewicz/Getty Images)NASHVILLE, TN – OCTOBER 02:Singers/Songwriters Alison Krauss and The Cox Family perform during Nashville Candelight Vigil For Las Vegas at Ascend Amphitheater on October 2, 2017 in Nashville, Tennessee.(Photo by Rick Diamond/Getty Images)NASHVILLE, TN – OCTOBER 02: People light candles at the Ascend Amphitheater for a vigil honoring the victims of the mass shooting in Las Vegas on October 2, 2017 in Nashville, Tennessee. At least 58 people were killed and 500 wounded at the Route 91 Harvest Festival in Las Vegas Sunday night. (Photo by Joe Buglewicz/Getty Images)A woman mourns during an interfaith memorial service for victims of the Route 91 music festival mass shooting outside the Mandalay Bay Resort and Casino in Las Vegas, Nevada, U.S. October 2, 2017. REUTERS/Lucy NicholsonPeople mourn during an interfaith memorial service for victims of the Route 91 music festival mass shooting outside the Mandalay Bay Resort and Casino in Las Vegas, Nevada, U.S. October 2, 2017. REUTERS/Lucy NicholsonPeople mourn after an interfaith memorial service for victims of the Route 91 music festival mass shooting outside the Mandalay Bay Resort and Casino in Las Vegas, Nevada, U.S. October 2, 2017. REUTERS/Lucy NicholsonNASHVILLE, TN – OCTOBER 02: People gather at the Ascend Amphitheater for a vigil honoring the victims of the mass shooting in Las Vegas on October 2, 2017 in Nashville, Tennessee. At least 58 people were killed and 500 wounded at the Route 91 Harvest Festival in Las Vegas Sunday night. (Photo by Joe Buglewicz/Getty Images)NASHVILLE, TN – OCTOBER 02: Sophie Cass, 10, hands out candles at the Ascend Amphitheater for a vigil honoring the victims of the mass shooting in Las Vegas on October 2, 2017 in Nashville, Tennessee. At least 58 people were killed and 500 wounded at the Route 91 Harvest Festival in Las Vegas Sunday night. (Photo by Joe Buglewicz/Getty Images)LAS VEGAS, NV – OCTOBER 02:The Rev. Paul Goulet (L) and the Rev. David Shearin light candles during a prayer vigil outside Las Vegas City Hall in response to Sunday’s mass shooting on October 2, 2017 in Las Vegas, Nevada. A lone gunman opened fire on the Route 91 Harvest country music festival on October 1 leaving 59 dead and hundreds wounded.(Photo by Ethan Miller/Getty Images)LAS VEGAS, NV – OCTOBER 02: A stack of #VegasStrong flyers are displayed during a prayer vigil outside Las Vegas City Hall in response to Sunday’s mass shooting on October 2, 2017 in Las Vegas, Nevada. A lone gunman opened fire on the Route 91 Harvest country music festival on October 1 leaving 59 dead and hundreds wounded.(Photo by Ethan Miller/Getty Images)NASHVILLE, TN – OCTOBER 02: People gather during a candlelight vigil for victims of the Las Vegas shooting at Ascend Amphitheater on October 2, 2017 in Nashville, Tennessee.(Photo by Rick Diamond/Getty Images)NASHVILLE, TN – OCTOBER 02: People gather during a candlelight vigil for victims of the Las Vegas shooting at Ascend Amphitheater on October 2, 2017 in Nashville, Tennessee.(Photo by Rick Diamond/Getty Images)NASHVILLE, TN – OCTOBER 02:General view during Nashville Candelight Vigil For Las Vegas at Ascend Amphitheater on October 2, 2017 in Nashville, Tennessee.(Photo by Rick Diamond/Getty Images)LAS VEGAS, NV – OCTOBER 02:Dominic De Patta of Nevada holds a candle and a #VegasStrong flyer during a prayer vigil outside Las Vegas City Hall in response to Sunday’s mass shooting on October 2, 2017 in Las Vegas, Nevada. A lone gunman opened fire on the Route 91 Harvest country music festival on October 1, leaving 59 dead and hundreds wounded.(Photo by Ethan Miller/Getty Images)NASHVILLE, TN – OCTOBER 02: People gather during a candlelight vigil for victims of the Las Vegas shooting at Ascend Amphitheater on October 2, 2017 in Nashville, Tennessee.(Photo by Rick Diamond/Getty Images)People mourn after an interfaith memorial service for victims of the Route 91 music festival mass shooting outside the Mandalay Bay Resort and Casino in Las Vegas, Nevada, U.S. October 2, 2017. REUTERS/Lucy NicholsonA girl attends an interfaith memorial service for victims of the Route 91 music festival mass shooting outside the Mandalay Bay Resort and Casino in Las Vegas, Nevada, U.S. October 2, 2017. REUTERS/Lucy NicholsonPastor William McCurdy (C) attends a prayer vigil, in honor of those affected by the shooting on the Las Vegas Strip, in front of Las Vegas City Hall in Las Vegas, Nevada, U.S. October 2, 2017. REUTERS/Las Vegas Sun/Steve MarcusPeople mourn during an interfaith memorial service for victims of the Route 91 music festival mass shooting outside the Mandalay Bay Resort and Casino in Las Vegas, Nevada, U.S. October 2, 2017. REUTERS/Lucy NicholsonLAS VEGAS, NEVADA – OCTOBER 2: UNLV students and their families gather during a candle light vigil for the victims of the mass shootings that killed 59 peopleand injured more than 525, in Las Vegas, Nevada, on Oct. 2, 2017. (Photo by Marcus Yam/Los Angeles Times via Getty Images)LAS VEGAS, NEVADA – OCTOBER 2: A UNLV student reflects on the message given during a candle light vigil for the victims of the mass shootings that killed 59 peopleand injured more than 525, in Las Vegas, Nevada, on Oct. 2, 2017. (Photo by Marcus Yam/Los Angeles Times via Getty Images)LAS VEGAS, NV – OCTOBER 2: Mourners attend a candlelight vigil at the corner of Sahara Avenue and Las Vegas Boulevard for the victims of Sunday night’s mass shooting, October 2, 2017 in Las Vegas, Nevada. Late Sunday night, a lone gunman killed more than 50 people and injured more than 500 people after he opened fire on a large crowd at the Route 91 Harvest Festival, a three-day country music festival. The massacre is one of the deadliest mass shooting events in U.S. history. (Photo by Drew Angerer/Getty Images)LAS VEGAS, NV – OCTOBER 02:The Rev. David Shearin (L) and the Rev. Mike Hatch hold candles as they pray during a prayer vigil outside Las Vegas City Hall in response to Sunday’s mass shooting on October 2, 2017 in Las Vegas, Nevada. A lone gunman opened fire on the Route 91 Harvest country music festival on October 1 leaving 59 dead and hundreds wounded.(Photo by Ethan Miller/Getty Images)LAS VEGAS, NV – OCTOBER 2: Mourners attend a candlelight vigil at the corner of Sahara Avenue and Las Vegas Boulevard for the victims of Sunday night’s mass shooting, October 2, 2017 in Las Vegas, Nevada. Late Sunday night, a lone gunman killed more than 50 people and injured more than 500 people after he opened fire on a large crowd at the Route 91 Harvest Festival, a three-day country music festival. The massacre is one of the deadliest mass shooting events in U.S. history. (Photo by Drew Angerer/Getty Images)NASHVILLE, TN – OCTOBER 02: People gather during a candlelight vigil for victims of the Las Vegas shooting at Ascend Amphitheater on October 2, 2017 in Nashville, Tennessee.(Photo by Rick Diamond/Getty Images)LAS VEGAS, NV – OCTOBER 02:Jon Dimaya (C) of Nevada, a rapid response team nurse at Sunrise Hospital & Medical Center, and his sons Ethan Dimaya (L) and Gryffin Dimaya (R) hold signs during a prayer vigil outside Las Vegas City Hall in response to Sunday’s mass shooting on October 2, 2017 in Las Vegas, Nevada. A lone gunman opened fire on the Route 91 Harvest country music festival on October 1, leaving 59 dead and hundreds wounded.(Photo by Ethan Miller/Getty Images)NASHVILLE, TN – OCTOBER 02: People gather at the Ascend Amphitheater for a vigil honoring the victims of the mass shooting in Las Vegas on October 2, 2017 in Nashville, Tennessee. At least 58 people were killed and 500 wounded at the Route 91 Harvest Festival in Las Vegas Sunday night. (Photo by Joe Buglewicz/Getty Images)A man mourns during an interfaith memorial service for victims of the Route 91 music festival mass shooting outside the Mandalay Bay Resort and Casino in Las Vegas, Nevada, U.S. October 2, 2017. REUTERS/Lucy NicholsonAlexander Wells, 9, attends a prayer vigil, in honor of those affected by the shooting on the Las Vegas Strip, in front of Las Vegas City Hall in Las Vegas, Nevada, U.S. October 2, 2017. REUTERS/Las Vegas Sun/Steve MarcusLAS VEGAS, NV – OCTOBER 2: Mourners light candles during a vigil at the corner of Sahara Avenue and Las Vegas Boulevardfor the victims of Sunday night’s mass shooting, October 2, 2017 in Las Vegas, Nevada. Late Sunday night, a lone gunman killed more than 50 people and injured more than 500 people after he opened fire on a large crowd at the Route 91 Harvest Festival, a three-day country music festival. The massacre is one of the deadliest mass shooting events in U.S. history. (Photo by Drew Angerer/Getty Images)LAS VEGAS, NV – OCTOBER 2: Mourners attend a candlelight vigil at the corner of Sahara Avenue and Las Vegas Boulevardfor the victims of Sunday night’s mass shooting, October 2, 2017 in Las Vegas, Nevada. Late Sunday night, a lone gunman killed more than 50 people and injured more than 500 people after he opened fire on a large crowd at the Route 91 Harvest Festival, a three-day country music festival. The massacre is one of the deadliest mass shooting events in U.S. history. (Photo by Drew Angerer/Getty Images)LAS VEGAS, NV – OCTOBER 2: Mourners attend a candlelight vigil at the corner of Sahara Avenue and Las Vegas Boulevardfor the victims of Sunday night’s mass shooting, October 2, 2017 in Las Vegas, Nevada. 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(Photo by Drew Angerer/Getty Images)LAS VEGAS, NEVADA – OCTOBER 2: UNLV students reflect on words of wisdom dispersed during a candle light vigil for the victims of the mass shootings that killed 59 peopleand injured more than 525, in Las Vegas, Nevada, on Oct. 2, 2017. (Photo by Marcus Yam/Los Angeles Times via Getty Images)LAS VEGAS, NV – OCTOBER 02:A music group performs during a vigil at Guardian Angel Cathedral for the victims of the Route 91 Harvest country music festival shootings on October 2, 2017 in Las Vegas, Nevada. Lone gunman Stephan Paddock, 64, of Mesquite, Nevada opened fire on festival attendees leaving at least 59 dead and over 500 injured before killing himself. The investigation is ongoing.(Photo by Denise Truscello/Getty Images)LAS VEGAS, NV – OCTOBER 02:A woman touches a staue of the Blessed Mother Mary during a vigil at Guardian Angel Cathedral for the victims of the Route 91 Harvest country music festival shootings on October 2, 2017 in Las Vegas, Nevada. Lone gunman Stephan Paddock, 64, of Mesquite, Nevada opened fire on festival attendees leaving at least 59 dead and over 500 injured before killing himself. The investigation is ongoing.(Photo by Denise Truscello/Getty Images)LAS VEGAS, NV – OCTOBER 02:A vigil on the Las Vegas strip for the victims of the Route 91 Harvest country music festival shootings on October 2, 2017 in Las Vegas, Nevada. Lone gunman Stephan Paddock, 64, of Mesquite, Nevada opened fire on festival attendees leaving at least 59 dead and over 500 injured before killing himself. The investigation is ongoing. (Photo by Denise Truscello/Getty Images)LAS VEGAS, NV – OCTOBER 02:Aryanna Williams, 6,and Mickey Deustch, 8, of Las Vegas, Nevada attend a vigil on the Las Vegas strip for the victims of the Route 91 Harvest country music festival shootings on October 2, 2017 in Las Vegas, Nevada. Lone gunman Stephan Paddock, 64, of Mesquite, Nevada opened fire on festival attendees leaving at least 59 dead and over 500 injured before killing himself. The investigation is ongoing.(Photo by Denise Truscello/Getty Images)LAS VEGAS, NV – OCTOBER 2: Mourners attend a candlelight vigil at the corner of Sahara Avenue and Las Vegas Boulevard for the victims of Sunday night’s mass shooting, October 2, 2017 in Las Vegas, Nevada. Late Sunday night, a lone gunman killed more than 50 people and injured more than 500 people after he opened fire on a large crowd at the Route 91 Harvest Festival, a three-day country music festival. The massacre is one of the deadliest mass shooting events in U.S. history. (Photo by Drew Angerer/Getty Images)A sign is pictured at a vigil on the Las Vegas strip following a mass shooting at the Route 91 Harvest Country Music Festival in Las Vegas, Nevada, U.S., October 2, 2017. Picture taken October 2, 2017. REUTERS/Chris WattieA police officer writes a message on a sign at a vigil on the Las Vegas strip following a mass shooting at the Route 91 Harvest Country Music Festival in Las Vegas, Nevada, U.S., October 2, 2017. Picture taken October 2, 2017. REUTERS/Chris WattieUp Next

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“Our goal has always been to resolve these matters so our community and the victims and their families can move forward in the healing process. This agreement with the plaintiffs’ counsel is a major step, and one that we hoped for a long time would be possible,” Jim Murren, chairman and chief executive of MGM Resorts said in a statement. (Reporting by Gabriella Borter in New York Editing by Scott Malone and Bernadette Baum)

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