Over the course of the past couple of years, MGM China stock on the Hong Kong Stock Exchange has tumbled from a January 2018 peak of HK$24.3 to its Thursday closing of HK$8.75, a fall of about 64 percent.
It’s recent fall below HK$10 is something that had not been seen since July 2016, and it is of course largely related to the Covid-19 crisis shaking Macau and its gaming industry as a whole.
Despite its own troubles, however, MGM China instituted at the beginning of this month an “MGM SME Anti-Epidemic Support” program and other measures to assist its smaller local partners.
MGM China CEO Grant Bowie explained, “MGM goes all out to offer our local SME vendors a quick relief from the hardship, including rolling out this game-changing financial assistance program to help them keep their business afloat. We wholeheartedly hope that we can help them alleviate financial burden and ride out the storm.”