MGM China has announced that over MOP8 million has been signed in deals under the auspices of MGM’s SME (Small and Medium-sized Enterprises) Business Matching Sessions so far, after being launched in October last year.
In a statement released yesterday, MGM stated that 430 local SMEs have participated in the business matching sessions, of which 358 were new partnerships with the company.
A total of 542 deals, amounting to more than MOP8 million, have been signed between MGM and over 100 vendors, the company revealed, adding that “the majority met our [MGM’s] target criteria for focusing on specific subgroups of local SMEs.”
Of the 100 vendors that successfully signed deals with MGM, 67 belonged to a category entitled “Micro SMEs,” 16 were from the “Made in Macau” segment and 28 from “Young Entrepreneurs.”
“As an integrated resort with a strong presence in Macau, we are proud to drive business with local SMEs, which will ultimately help Macau diversify and grow in a sustainable manner,” said Grant Bowie, Chief Executive Officer of MGM China.
“The positive results from our SME initiatives indicate that we are going in the right direction, and we will continue to nurture relationships with existing local vendors and with the many more newcomers to the field,” Bowie added.
To date, MGM has hosted two quarterly MGM SME Business Matching Sessions, one on November 30, 2015 and the other on March 18 this year.
The company added that they will continue to host quarterly sessions throughout the remainder of this year, focusing on specific groupings of products that are regularly sourced by MGM. DB
MGM signs MOP8m in SME deals
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Macau
This is good, but MOP8 million divided into 542 deals is an average of about MOP14,000/deal, which is a very small sales for most businesses, even small ones. Moreover, MOP8 million is a very, very small part of MGM’s overall operating budget.
I look forward to when small and medium businesses can win significant sales to larger casinos and hotels in Macau.
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