Estate Of Kirk Kerkorian Donates Additional $2 Million To The MGM Resorts Foundation For MGM Employee Emergency Grant Fund

Rhea-AI Summary

MGM Resorts International received a $2 million donation from the estate of founder Kirk Kerkorian to support employees affected by the COVID-19 pandemic. This funding will be allocated to the MGM Resorts Foundation's Employee Emergency Grant Fund, which has provided over $11 million in aid since the pandemic began. The fund aims to assist laid-off or furloughed employees with essential expenses like rent, utilities, and medical bills. The donation reflects Kerkorian's legacy of caring for MGM employees.

Positive

• Estate donation of $2 million for employee support during COVID-19.
• Total aid from the Employee Emergency Grant Fund exceeds $11 million since the pandemic started.

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• None.

LAS VEGAS, Aug. 12, 2020 /PRNewswire/ -- MGM Resorts International Founder, Kirk Kerkorian's estate announced a donation of an additional $2 million to The MGM Resorts Foundation to support MGM employees impacted economically by the coronavirus (COVID-19) pandemic.

"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 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. 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 public 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 $11 million 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."

To learn more about The MGM Resorts Foundation, visit www.mgmresortsfoundation.org.

About The MGM Resorts Foundation
The purpose of The MGM Resorts Foundation is to collect and distribute monies and assets donated by employees of MGM Resorts International (NYSE: MGM) for the aid and support of qualified community nonprofit programs, agencies or organizations designated exclusively by MGM Resorts' employees. The Foundation also collects and distributes donations made by a broad base of donors to support activities organized by MGM Resorts employees and approved by the Foundation's board of directors to benefit qualified nonprofit charitable organizations.  The Foundation's Employee Emergency Grant & Children's Medical Support Fund was organized specifically to enable MGM Resorts employees to provide emergency, hardship, and disaster support to fellow employees and their families.  In addition, since 2012, the Foundation has been the presenting sponsor of the Women's Leadership Conference, the major women's conference in the Western region.

Media Contact
Samantha Cummis
MGM Resorts International
Scummis@mgmresorts.com
973-800-4119 

 

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SOURCE The MGM Resorts Foundation

FAQ

What is the purpose of the $2 million donation from Kerkorian's estate to MGM?

The $2 million donation supports the MGM Resorts Foundation's Employee Emergency Grant Fund to aid employees affected by COVID-19.

How much total aid has the MGM Resorts Foundation provided since the pandemic?

The MGM Resorts Foundation has provided over $11 million in emergency grant payments to support employees since the pandemic began.

Who will benefit from the MGM Resorts Foundation's Employee Emergency Grant Fund?

The fund benefits MGM employees and their families affected by unexpected hardships, including those furloughed or laid off due to the pandemic.

What type of expenses can the Emergency Grant Fund cover for MGM employees?

The fund can cover essential expenses like rent, mortgage assistance, utility bills, medical expenses, and funeral costs.

When was the donation from Kerkorian's estate announced?

The donation was announced on August 12, 2020.