Eglet said that the settlement process has a 30-day appeal period.
He said: “We hope that this work can be done in a way that can diversify victims’ funds before the end of the year.”
In the class action, the settlement will be distributed to more than 4,000 claimants. A pair of retired judges agreed by both parties will independently determine the exact compensation for each victim.
Eglet said that only one potential claimant in the case decided to withdraw from the lawsuit.
Authorities said that after the shooting, Paddock was found dead on the floor of his hotel room with a spontaneous shot on his head.
Mandalay Bay is owned by MGM Resorts International. MGM said in a document filed with the US Securities and Exchange Commission last month that only $49 million of the settlement came from the company’s funds, and the remaining $751 million was paid by liability insurance.