UPDATE: Khaleal Black received a 4-year suspended sentence and will appear in front of the mental court judge to receive further conditions of probation.
Black apologized in court and an officer who fired shots in the incident also spoke to being relieved that he is now on medication and doing better.
"Yes, I'd like to apologize to the officers and everybody," he said. "I'm on medication and I'm doing a lot better."
Black did not have criminal history prior to the incident.
However, the officer involved in the shooting, George Smith, said Black could still be a danger if he doesn't take his medication.
Black will also have a curfew of 5 p.m. as part of his probation.
LAS VEGAS (KTNV) -- Bail was set at $2 million Wednesday for the man suspected of waving a gun in front of the Bellagio hotel-casino last week.
20-year-old Khaleal Black made his first court appearance following the shooting Friday evening. He was in a wheelchair and moaning throughout the hearing.
— Parker Collins (@parkercollinstv) January 27, 2016
Police said Black was threatening people with a handgun and at one point pointed the unloaded gun to the heads of a couple and pulled the trigger. He is also accused of going up to a group of three people and yelling, "I'm going to kill everyone."
When police arrived, he wouldn't drop the gun so Officer George Smith opened fire. He missed the suspect but bullets grazed a 4-year-old child and a man. Both were not seriously injured.
Police said they had interacted with Black before and he had previously been on a mental health hold.
The judge told Black in court Wednesday that he is "lucky to be alive."
After his court appearance, Dymond Black, Khaleal Black's brother, said, "(Khaleal's) sick in his brain right now so I just don't want him to -- people to look at him as a criminal cause he's not a bad guy. He's a really nice guy he just had a mental breakdown."
Black's next court appearance is at 7:30 a.m. Wednesday, Feb. 3.