Gaming operator launches two financial assistance programs for SME vendors impacted by the Coronavirus crisis.<\/p>\n\n\n\n\n\n\n\n
Macau.- MGM China will provide financial assistance to its SME vendors that have been impacted by the Coronavirus crisis.<\/p>\n\n\n\n
MGM conducted a survey with over 600 SME vendors with business ties to the company to better understand the economic impact suffered during the virus outbreak. <\/p>\n\n\n\n
As a result of the survey the gambling giant will introduce two assistance programs to support them: “Down Payment for Future Business” and “14-day Fast-track Payment”.<\/p>\n\n\n\n
The “Down Payment for Future Business” initiative allows SME vendors to receive an advance down payment from\u00a0MGM\u00a0for future orders or services. <\/p>\n\n\n\n
The “14-day Fast-track Payment” will pay them within 14 days upon receiving their products or services.<\/p>\n\n\n\n
“Local SME vendors are our important business partners, and the latest financial assistance program is a testament to our confidence in them [\u2026] We wholeheartedly hope that we can help them alleviate financial burden and ride out the storm,\u201d MGM Group CEO, Grant Bowie, said.<\/p>\n\n\n\n
According to the Macau Economic Bureau (DSE), almost 2,500 SMEs have applied for financial support. Donations by the city\u2019s six gaming concessionaires and sub-concessionaires, plus local junket operators, to assist containment efforts has\u00a0reached more than MOP100 million (\u20ac11 million) .<\/p>\n","protected":false},"excerpt":{"rendered":"
Gaming operator launches two financial assistance programs for SME vendors impacted by the Coronavirus crisis.<\/p>\n","protected":false},"author":2,"featured_media":3239,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"MGM China has launched two financial assistance programs, \"Down Payment for Future Business\" and \"14-day Fast-track Payment,\" to support its SME vendors in Macau severely impacted by the Coronavirus crisis. This initiative follows a survey of over 600 vendors, aiming to alleviate financial burdens and ensure supply chain stability within the highly regulated gaming jurisdiction.","focusai_entities":"MGM China, MGM, Grant Bowie, Macau Economic Bureau (DSE)","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), regulator (0.8), operator_casino (0.85), investor_analyst (0.9), supplier_vendor (0.9), journalist_researcher (0.85)","focusai_suggestions":[{"label":"Vendor Program Efficacy?","query":"What is the projected financial outlay for MGM China's vendor assistance programs, and what are the key performance indicators (KPIs) for measuring their efficacy in stabilizing the SME supply chain and mitigating operational risks?"},{"label":"Regulatory Impact?","query":"How might Macau's regulatory bodies interpret or respond to MGM China's financial assistance programs, and could this initiative influence future corporate social responsibility (CSR) mandates or governance frameworks for other gaming concessionaires?"}],"footnotes":""},"categories":[160,28,16338,158],"tags":[29,7299,257],"class_list":["post-4059","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-casino-news","category-east-asia-news","category-slider-home","tag-casino","tag-coronavirus","tag-macau"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/4059","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=4059"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/4059\/revisions"}],"predecessor-version":[{"id":4071,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/4059\/revisions\/4071"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/3239"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=4059"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=4059"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=4059"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}