MGM Resorts Foundation awards $2.7m in grants to nonprofit organisations
The foundation has made donations to organisations in communities in which MGM Resorts operates.
US.- The MGM Resorts Foundation has awarded more than $2.7m in grants to 107 nonprofit organisations providing basic services in communities where MGM Resorts operates: Southern Nevada, Michigan, Mississippi, New Jersey, New York, Northeast Ohio, the DC Metropolitan area, and Western Massachusetts.
The organisations received funding from the foundation’s Community Grant Fund. Grant decisions are made by Community Grant Councils, voluntary groups of employees representing their respective regions.
Maria Gatti, vice president of philanthropy and community engagement, said: “MGM Resorts employees continue to amaze us with their generosity and commitment to our local communities. On behalf of our 107 grant recipients, thank you for your donations and even more importantly, for enlivening our company’s belief in investing in our communities through giving as well as volunteerism.”
The MGM Resorts Foundation was established in 2002. Since then, it has raised more than $100m and supported more than 1,500 charitable organisations.
MGM Resorts International reports a 21% increase in Q2 revenue
MGM Resorts International has reported financial results for the quarter ended June 30. The company reported record revenue of $3.9bn, up 21 per cent compared to the same period the previous year.
MGM’s revenue comprises three divisions, Las Vegas, US regional operations and MGM China. Las Vegas is the largest market, recording $2.15bn in revenue for Q2, up from $2.14bn in Q2 2022. MGM’s Q2 regional revenue was $926m, down 4 per cent (Q2 2022: $960m). MGM China’s revenue totalled $741m, a 418 per cent rise on Q2 2022’s $143m. This is primarily down to the end of travel restrictions in Macau and China’s zero-Covid policy.
