An exact amount of the settlement has not been disclosed yet, but Mandalay Bay owner MGM Resorts has previously indicated in financial filings it expects to pay up to $800 million in settlements over the mass shooting.
The Oct. 1. 2017 shooting at the Mandalay Bay left 58 people dead and hundreds wounded from bullets or injured in the ensuing chaos. Shooter Stephen Paddock opened fire from the 32nd floor of the hotel onto a crowd gathered for the Route 91 Harvest music festival. He was later found dead in his room of a self-inflicted gunshot wound.
Remembering the Las Vegas shooting victims
Hundreds of victims and family members later filed suit against MGM, claiming the hotel had failed to take steps to protect people attending the festival and failed to prevent Paddock from bringing an arsenal of weapons into his hotel room.
MGM later filed countersuit against the victims in what was a legal maneuver designed to have the cases consolidated and avoid liability.
Officials with MGM declined to comment Wednesday to ABC News about a possible settlement.