[March 21, 2016, Macau] Following its second in a series of quarterly MGM SME Business Matching Sessions, MGM announced the early successes of its MGM SME program, which was launched in October 2015. MGM’s SME Program consists of the MGM SME Committee and the quarterly MGM SME Business Matching Sessions, with major support from the Macau Chamber of Commerce (MCC), and also support from Macau Trade and Investment Promotion Institute (IPIM), Macau Productivity and Technology Transfer Center (CPTTM) and Macao Economic Services (MES).
In less than five months since launching the program, 430 local SMEs have participated in MGM SME Business Matching Sessions, of which 358 are new relationships to the Company. 542 deals worth more than MOP 8 million in total have been signed between MGM and over 100 vendors. Amongst these successful suppliers, the majority met our target criteria for focusing on specific subgroups of local SMEs: 67 belonged to “Micro SMEs”, 16 were in the “Made in Macau” segment and 28 came from “Young Entrepreneurs”.
MGM SME Business Matching Sessions
To date, MGM has hosted two quarterly MGM SME Business Matching Sessions. The first matching session on November 30, 2015 was open to all vendors and focused on the Company’s upcoming procurement needs. The second matching session was held on March 18, 2016 and focused on facilities management goods or services that local SMEs can provide. MGM will continue to host MGM SME Business Matching Sessions quarterly throughout 2016 focusing on specific themes of products regularly sourced by the Company.
MGM SME Committee
With objective to improving and broadening MGM’s relationships with local SMEs by sharing our requirements and development plans that leads to increased sourcing and purchases, MGM has taken the lead in the industry’s SME focus by establishing the MGM SME Committee. It is formed by management members of MGM, prominent local leaders from various sectors including Creativity, Education, Finance, Food & Beverages, Logistics, Marketing, Retail, and Trade & Manufacturing. Two meetings have been held by far and the committee reaffirmed the emphasis on cultivating three key local SME segments: “Micro SMEs”, “Made in Macau” and “Young Entrepreneurs”.
MGM will continue to meet and take into consideration the valuable ideas and SME-centric programs advocated by our MGM SME Committee members. The impact of our commitments will become more substantial as our SME Business Matching Sessions and committee continue to progress quarter by quarter, which is conducive to the sustainable economic growth of Macau.
Mr. Grant Bowie, Chief Executive Officer and Executive Director of MGM China Holdings Limited said: “As an integrated resort with a strong presence in Macau, we are proud to drive business with local SMEs, which will ultimately help Macau diversify and grow in a sustainable manner. The positive results from our SME initiatives indicate that we are going in the right direction, and we will continue to nurture relationships with existing local vendors and with the many more newcomers to the field. Macau’s greatness will be achieved by the people of Macau.”
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 the world’s largest gaming market, 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 an Art Space dedicating over 8,000 square feet to display authentic works of art, conference and event facilities, an award-winning spa, and nine 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 towards the end of the first 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. For more information about MGM Resorts International, visit the Company's website at www.mgmresorts.com.
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