- Legal States
Fiona Simmons August 13, 2020 3 min read
MGM Resorts Employee Fund Receives a $2 Million Donation by Kerkorian Estate
The fund by MGM aiming at mitigating the COVID-19 impact on employees receives a $2 million donation by the Kerkorian Estate. MGM’s CEO Bill Hornbuckle expressed gratitude for the generous contribution.
Kerkorian Estate Donates $2 Million to MGM Employee Fund
The employee fund of MGM Resorts International received a $2 million donation by Kerkorian Estate. This was announced by MGM Resorts yesterday. Kirk Kerkorian, who was the owner of the estate and founder of MGM Resorts International, passed away at age 98 back in 2015. Now the estate is continuing his legacy and showing how much Mr Kerkorian cared about his employees.
A spokesperson for the estate commented on the subject by saying: “As the founder of MGM Resorts International, Mr. Kerkorian attributed much of his success to the employees at MGM.” The spokesperson added: “We know that he would have wanted them to know how much he cared for them and their families and would do what he could to help those affected by the devastating impact of this pandemic.”
Mr Kerkorian is known to have built the three biggest hotels in the world for their time. These are the International built in 1969, which is now Westgate Las Vegas. But also – the original MGM Grand back in 1973, which is now Bally’s Las Vegas as well as the present MGM Grand Las Vegas built in 1993.
MGM’s Emergency Grant Fund
The donation will aid the MGM Resorts Foundation’s Employee Emergency Grant Fund. The fund was created in order to help mitigate the COVID-19 impact on employees and provide them with relief. So far, the fund has raised some $14 million. Out of that amount, more than $11 million were already distributed towards furlough and laid off employees. Employees who were impacted by the COVID-19 pandemic were aided by the fund in order to help pay utility bills, medical expenses as well as rent or homeowner’s loans.
Looking back at March, MGM had to furlough more than 63,000 employees because of the COVID-19 spread. The company, operating in six states has reopened all properties but three: Empire City Casino in New York and Park MGM and The Mirage in Las Vegas. Although employees of MGM have returned to work, the company took the difficult decision of laying off and undisclosed number of employees.
Bill Hornbuckle, MGM’s CEO Commented on the Generous Contribution
Focusing back on the donation by the Kerkorian estate, MGM’s CEO Bill Hornbruckle shared his excitement. He said: “We are so grateful to Mr. Kerkorian’s estate for their generous contribution, which will greatly help our employees and their families during this unprecedented time.” Hornbuckle added: “This additional funding will enable the Foundation to continue to help many more employees in the coming weeks.“
Elsewhere, in Detroit, Michigan MGM Grand Detroit gaming property reopened last week Friday. The property currently operates under a reduced capacity of 15%. Furthermore, MGM Grand Detroit implemented strict health and safety protocols as well as social distancing. Although smoking will not be permitted on the gaming floor, the operator created outdoor smoking areas.