Victims of the Oct 1, 2017 mass shooting in Las Vegas will receive between $735 million and $800 million dollars collectively as part of a settlement reached between MGM Resorts and a lawyer who represents nearly 2,500 victims.

The amount will depend on the number of claimants. A press release reveals that those represented by Eglet Adams law firm are "substantially all plaintiffs in litigation" right now. CNN shares a statement from MGM that indicates the goal was to put the conversation to rest so the families to focus solely on healing, and that MGM does not admit fault.

"We have always believed that prolonged litigation around these matters is in no one's best interest. It is our sincere hope that this agreement means that scenario will be avoided," Jim Murren, the CEO of MGM Resorts, says.

As a result of the settlement, all parties will dismiss and release all pending litigation. An independent administrator will allocate the money to the individual claimants — a process that is expected to take until late 2020. The press release notes that the first $735 million in settlement fund will be funded by MGM Resorts' insurers. Any additional money will be added by MGM Resorts.

Tuesday (Oct. 1) marked the two-year anniversary of the Las Vegas shooting during the Route 91 Harvest Festival. Jason Aldean was on stage when gunfire rained down from the Mandalay Bay across the street. A gunman killed 58 people at the show and injured hundreds more before killing himself. His motive was never determined.

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