As a measure to relieve the economic stress during the Wuhan Coronavirus closure for its retail tenants inside the MGM Macau and MGM Cotai properties, MGM China has announced that it will waive basic rent for the period from February 5 to 19.
“At this difficult time, our thoughts are also with our retail tenants, especially the local SMEs. We hope that this rent relief can help alleviate their burdens, so that they can ride out the current hardship for a swift recovery,” said Chief Executive Officer and Executive Director Grant Bowie.
Last week, MGM China also announced a MOP 20 million (about US$2.6 million) donation to help China’s Hubei Province fight against the coronavirus epidemic.
This Dossier results from the “Life After POGOs” editorial project by Asia Gaming Brief which culminated with a pop-up digital forum on 9th December to discuss potentials ramifications in the industry.
SJM Holdings has appointed Toh Hup Hock as chief financial officer, replacing Robert Earle McBain who is retiring. Toh joined SJM in October, prior to which he was CFO of Shangri-La-Asia and Sands China.
Over the years, many of the answers have been remarkably prescient in their forecasts for the near-term direction of Asia’s gaming industry. However, we can safely say that no one came anywhere close to guessing
what 2020 may have had in store.
While nowhere in the world has escaped the economic fallout from the Covid-19 crisis, Macau has been hit harder than most, with forecasts for gross domestic product to shrink more than 50 percent this year.