MGM’s Cooperation with New Local SME Vendors Exceeds MOP 55Million
Sep 5, 2016
Mr. Grant Bowie, Chief Executive Office and Executive Director of MGM China Holdings Limited (fifth from right) met with representatives from the Macao Chamber of Commerce and Youth Entrepreneur Association to exchange ideas on nurturing local SMEs.
[September 5, 2016, Macau] The successful cooperation among MGM and 145 new local SME vendors in 1,798 cases have exceeded MOP 55million in business deals since the first MGM SME Business Matching Session held in November, 2015. On September 2, MGM hosted its fourth quarterly SME Business Matching with the Macau Youth Entrepreneur Association (MYEA) and welcomed nearly 80 local vendors from the Information Technology and Retail industries.
In this Session, MGM created synergy by arranging its management team members of IT and Human Resources Department to meet directly with members of MYEA to get a better understanding of their products, services and capabilities for cooperation opportunities on upcoming projects. In addition, four leading Macau banks have once again taken part in the Business Matching Session to provide one-stop financial services for SME vendors on-site. The Session was also joined by Mr. Chui Yuk Lum and Mr. U Kin Cho, Vice-Presidents of Board of Director of Macao Chamber of Commerce (MCC); Mr. Choi Tat Meng, Chief of Liaison Department of MCC; Mr. Kevin Ho, Chairman of MYEA, and Mr. Grant Bowie, Chief Executive Officer and Executive Director of MGM China Holdings Limited, to share experiences of our respective SME business engagement that will benefit the sustainable growth of local SME vendors.
MYEA gathers all of Macau’s young entrepreneurs from all kinds of industries, including “Micro SMEs” and “Young Entrepreneurs”, key segments to MGM’s focus on local SMEs. The Association's mission – creating business co-operation between local entrepreneurs, China and overseas markets while serving the overall development of Macau’s community, is similar to many of the measures introduced by MGM. Mr. Kevin Ho said, “The younger generation is eager to grow as entrepreneurs; however, they may be unsure about exploring business opportunities or how to begin partnership with large corporations. This Business Matching Session has opened up a door for them to learn the procurement procedures and criteria by discussing with MGM’s team. This builds a positive foundation for future cooperation.”
Scheduled to open in 2017, MGM COTAI is a property that utilizes substantial amount of high-tech features to create better and more innovative entertaining experiences to guests; thus, MGM hopes to establish new business deals with local SME vendors from the innovation and technology industries who are specialized in computer hardware, software, application and project management programming through its latest SME Business Matching.
MGM has been working closely with the local retail sector to organize back-of-the-house sales for its 6,000 team members each year. Taking a broad view of the previous Matching Sessions, businesses were mostly made between integrated resort enterprises and SME wholesalers. As a result, this fourth Session is moving its focus to SME retailers, so that MGM can expand its vendor database while providing employees with best values and options, and the retailers are able to directly promote their products to our team members.Such strategy is the best example of a three-win cooperation.
Mr. Chui Yuk Lum, Vice-President of Board of Directors of MCC, acknowledged the impressive success in MGM’s SME Business Session and said, “MGM looks after every industry by creating opportunities to deepen the cooperation among different business associations at each of its Business Matching Session. Many young people are now working in the IT industry, and it is an industry we need to nurture by giving them opportunities to grow and prosper. On the other hand, retail is one of Macau’s pillar industries; it is a great beginning for large corporations to make room for retailers to promote their products and services to its employees, pathing way to future cooperation.
Mr. Cheang, one of the shop owners who participated in the Matching Session with his cycling gears, found the event hugely beneficial to his business as well as to MGM’s team members, “First, the staff members can get the products they like at lower prices, and second, that generates a lot o sales for us.” He added, “Before, we could only try to draw employees of integrated resort operators to visit our shop by offering vouchers; we’ve never thought we could be promoting our products at the back-of-the-house area of a hotel. We have joined the larger expo held by other integrated resort operators before, where many other retailers and brand were also present. That has created distraction to the consumers, and I think the method taken by MGM makes it more fruitful, and I look forward to more opportunities with them.”
MGM is an abbreviation for MGM China Holdings Limited (HKEx: 2282) and is a leading developer, owner and operator of gaming and lodging resorts in the Greater China region. We are the holding company of MGM Grand Paradise, SA which holds one of the six gaming concessions/subconcessions to run casino games in Macau. MGM Grand Paradise, SA owns and operates MGM MACAU, the award-winning premium integrated resort located on the Macau Peninsula and is developing a second resort, MGM COTAI which is expected to more than double our presence in Macau.
MGM MACAU is a Forbes Five-Star luxury integrated resort inspired by the arts with every element of the resort infused with creativity and style. MGM MACAU has approximately 600 guest rooms and suites and boasts a number of distinguishing features, including the architecturally stunning European-inspired Grande Praça, housed under a soaring glass ceiling. MGM MACAU’s world class facilities include the MGM Art Space, dedicating over 8,000 square feet to display authentic works of art, conference and event facilities, spa, and eight signature restaurants and bars to fulfill any gastronomic craving. Our property is conveniently located on prime waterfront on the Macau Peninsula and is directly connected to the luxury retail shopping complex, One Central.
MGM COTAI, designed as the “jewelry box” of Cotai, plans to offer approximately 1,500 hotel rooms and suites, meeting space, high end spa, retail offerings and food and beverage outlets as well as the first international Mansion at MGM for the ultimate luxury experience. MGM COTAI will offer Asia’s first dynamic theater and a spectacle to wow every guest who steps foot in our resort. MGM COTAI is being developed to drive greater product diversification and bring more advanced and innovative forms of entertainment to Macau as it grows as a global tourist destination. The HK$24billion project is expected to open in second quarter of 2017.
MGM China Holdings Limited is majority owned by MGM Resorts International (NYSE: MGM) one of the world's leading global hospitality companies, operating a portfolio of destination resort brands including Bellagio, MGM Grand, Mandalay Bay and The Mirage.
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