[January 9, 2017, Macau] MGM is taking its support of local Macau Small Medium Enterprises (SMEs) global by developing its existing Macau SME relationships with its parent company, MGM Resorts International. As MGM is expanding in Macau, so does its commitment to the community. In preparation for the opening of MGM COTAI, the Company is setting up a platform for the development of local SMEs with MGM Resorts International for global procurement deals. The first deal, signed in December 2016, marks the commencement of MGM’s program to bring more qualifying SMEs to the global market.
MGM has consistently nurtured and motivated local SMEs to grow in a sustainable manner, and to enhance the quality of their products with the aim to satisfy new levels of demand and growth overseas. Since MGM’s initial SME Business Matching Session in November 2015, the Company has increased its procurement spend as well as the number of local SMEs it does business with significantly. Meanwhile the Company has also been identifying suitable local SME vendors with appropriate technical profile and quality products, and providing recommendations to MGM Resorts International.
As the first step in a broad commitment from MGM Resorts International to purchase from more local Macau SMEs, the Company confirmed its first procurement deal with local brand Smart Trophy & Souvenir. The business deal was made after rounds of online conferences and sample mailings, led by MGM. Smart Trophy & Souvenir is now the first local SME vendor to manufacture custom-made Chinese New Year gift sets for MGM Resorts International as keepsakes for the Company’s premium guests; these products will reach an impressive global audience through MGM Resorts International’s database.
Ms. Stacey Taylor, Senior Vice President & Chief Procurement Officer of MGM Resorts International, said, “MGM Resorts International is always looking for great products for our guests while focusing on sourcing directly from the communities where we do business in, therefore acting locally and thinking globally. As MGM is expanding in Macau we have been spending more time with our colleagues at MGM MACAU, and have had the opportunity to learn more about the competitive and creative products that we can find in Macau. We are eager to support local quality businesses that can also contribute to developing our own market presence over time.”
Mr. Grant Bowie, Chief Executive Officer and Executive Director of MGM China Holdings Limited, said, “While MGM has been a consistent supporter of local SMEs in Macau we recognize that our parent Company with its global procurement deals can do even more to recognize the great potential of Macau’s products. We see it as our responsibility to support the economic development of SMEs in the international arena. MGM is at the forefront in bringing local businesses to the global audience, as we recognize this strategy is the best example of a three-win cooperation giving SMEs access to MGM’s portfolio of best in class hospitality brands in the United States and beyond. This is just the beginning of our long and inspiring journey in bringing more local SMEs overseas.”
Mr. Lono Lee, on behalf of Smart Trophy & Souvenir, expressed his gratitude towards MGM by helping their business expansion overseas. “Through this important initiative from MGM, more opportunities are being created, and local businesses can become even more competitive. We believe that it can greatly contribute to the continuous growth of local SMEs, facilitating their economic progression and the future recognition of local brands.”
MGM’s SME Program Proved Successful
MGM is dedicated to supporting local SMEs, including mentoring initiatives and supporting to help take their business plans further. The successful cooperation among MGM and 158 new local SME vendors in 2,213 cases have exceeded MOP155 million in business deals since the first MGM SME Business Matching Session held in November, 2015.
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 5,000 square feet to display authentic works of art, conference and event facilities, spa, and seven 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 is the latest addition to the MGM portfolio in China. Designed as the “jewelry box” of Cotai, it plans to offer approximately 1,400 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 the 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. MGM COTAI is the largest property and the first private sector project ever to achieve the China Green Building (Macau) Design Label Certification.
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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