There is a 30-day appeal period for the settlement, Eglet said.
“We are confident that it will be completed in such a way that we can distribute the victims’ funds before the end of the year.”
The settlement will be split among more than 4,000 claimants in the class action. The exact amounts for each victim will be determined independently by a mutually agreed upon pair of retired judges.
Eglet said only one of the potential claimants in the case decided to dismiss the lawsuit.
Authorities said after the shooting, Paddock was found dead on the floor of his hotel room with what appeared to be a self-inflicted gunshot wound to the head.
Mandalay Bay is owned by MGM Resorts International. In a filing with the Securities and Exchange Commission last month, MGM said only $ 49 million of the settlement would come from the company’s funds, while the remaining $ 751 million is covered by liability insurance.