Las Vegas headquartered MGM Resorts International has received an additional $2m donation from the estate of founder Kirk Kerkorian for its emergency relief fund, to support employees impacted economically by the coronavirus pandemic.
The donation will go toward The MGM Resorts Foundation’s Employee Emergency Grant Fund, which is designed to help qualified MGM employees and their immediate families with short-term assistance and relief during unexpected hardships and emergencies.
“As the founder of MGM Resorts International, Mr Kerkorian attributed much of his success to the employees at MGM,” said a representative from his estate.
“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 may also provide disaster relief assistance to furloughed or laid-off employees whose compensation is suspended or employment terminated as a result of an extraordinary event, or events, that severely impacts a community in which MGM Resorts conducts business, such as the COVID-19 health crisis.
Examples of relief payments include rent or mortgage assistance, utility bills, medical and funeral expenses.
“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,” said Bill Hornbuckle, CEO and president of MGM Resorts International.
“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.”
This follows MGM welcoming an announcement by IAC/InterActiveCorp, the media and technology company founded and led by businessman Barry Diller, which made a significant investment in the group earlier in the week.
IAC/InterActiveCorp, which operates as a holding company, is headquartered in New York City and has business operations and satellite offices worldwide, as well as boasting five operating segments and more than 150 brands and products.