MGM Resorts International, based in Las Vegas, received an extra $2 million donation from Founder Kirk Kerkorian ‘s estate for its emergency relief fund to help workers impacted by the coronavirus pandemic economically.
The contribution will go to the Employee Emergency Grant Fund of the MGM Resorts Foundation, which is intended to support eligible MGM staff and their immediate families in the event of unforeseen difficulties and emergencies with short-term assistance.
A representative from his estate said: “As the founder of MGM Resorts International, Mr Kerkorian attributed much of his success to the employees at MGM.
“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.”
The grant fund can also offer disaster relief assistance to furloughed or laid-off workers whose pay is suspended or job terminated as a result of an exceptional occurrence, or incidents that seriously affect a community in which MGM Resorts conducts business, such as the COVID-19 health crisis.
Rent or mortgage aid, utility charges, medical and funeral costs are examples of relief payments.
Bill Hornbuckle, CEO and president of MGM Resorts International 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.
“Since the pandemic started The MGM Resorts Foundation, through the Employee Emergency Grant Fund, has provided over $11m dollars in emergency grant payments to support employees and their immediate families impacted by the crisis. This additional funding will enable the Foundation to continue to help many more employees in the coming weeks.”
It follows MGM accepting an announcement made earlier in the week by IAC / InterActiveCorp, the media and technology firm formed and headed by businessman Barry Diller, who made a major investment in the Company.
IAC / InterActiveCorp, which functions as a holding company, is based in New York City and has worldwide satellite and market activities as well as five operating divisions and more than 150 brands and products.