Caesars Entertainment Reconfirms Longstanding Commitment to Corporate Social Responsibility Following 2020 Merger

Rhea-AI Summary

Caesars Entertainment (NASDAQ: CZR) released its 2019-2020 PEOPLE PLANET PLAY Report on Corporate Social Responsibility, emphasizing its commitment to societal contributions post-merger with Eldorado Resorts. The report highlights growth in diversity, equity, and inclusion, with 45% women and 35% racial diversity in management roles. In 2019, Caesars contributed $67 million to community efforts and launched extensive renovations to enhance guest experiences. The creation of a new CSR Committee is set to drive future strategies, reinforcing its role as a responsible corporate citizen.

Positive

• Commitment to CSR with a new CSR Committee formed to drive strategy.
• Diversity initiatives show 45% women and 35% racial diversity in management roles.
• Community contributions totaled $67 million in 2019, demonstrating strong social impact.
• Enhancements to guest services and facilities, including extensive renovations.

Negative

• The COVID-19 pandemic led to significant property closures, impacting operations.

LAS VEGAS, Nov. 10, 2020 /PRNewswire/ -- Caesars Entertainment, Inc. (NASDAQ: CZR), the largest gaming and entertainment company in the United States, today published its 2019-2020 PEOPLE PLANET PLAY Report on Corporate Social Responsibility (CSR).

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PEOPLE PLANET PLAY is the framework underpinning Caesars Entertainment's CSR strategy, addressing the ways in which Caesars makes a positive contribution to people, the environment and communities through its business and responsible conduct.  

In this report, Caesars confirms its purpose-driven approach and commitment to PEOPLE PLANET PLAY as a responsible corporate citizen. This is particularly relevant as the 2019-2020 period has been unparalleled for two main reasons:  (1) the successful merger of Caesars Entertainment Corporation and Eldorado Resorts, Inc. that created Caesars Entertainment, Inc. with significantly expanded operations and new leadership, and (2) the COVID-19 pandemic that resulted in property closures around the country for several months and a return to work with new protocols and restrictions.

The data included in this year's report is from 2019 and the first half of 2020, representative of Caesars properties pre-merger. The report also outlines how the newly formed company remains committed to CSR moving forward.

"This year has certainly presented opportunities and challenges as we respond to the pandemic throughout the U.S.," said Tom Reeg, CEO of Caesars Entertainment. "Perhaps most importantly, we see this as an opportunity to work together in the newly formed Caesars Entertainment, bridging our community-driven efforts and strengthening them within a larger organization. Where we had set platforms and programs that impacted so many, we can build them up and make them stronger and more impactful than ever before."

The Report covers Caesars' key impacts and achievements in seven key areas, with highlights including:

• Diversity, Equity and Inclusion (DEI): In 2019, Caesars legacy properties had 45% women and 35% racial diversity in management roles. The combined company has affirmed its commitment to gender and racial equity in leadership and management. The Company also engaged with certified diverse vendors for 17.6% of operational and 10.8% of capital expenditures.
  
  
• Positive experiences for guests: The Company has significantly enhanced its offerings for guests through extensive renovations and expansion of digital services, including enhancements at Harveys Lake Tahoe and Harrah's Las Vegas as well as completed construction of CAESARS FORUM Conference Center.
  
  
• Social impact: Total community contributions in 2019 amounted to $67 million, including the value of 370,000 hours volunteered in local communities by team members. In 2019, Caesars turned every dollar of revenue into a contribution to its communities of 46 cents - nearly four times the average community contribution for U.S. corporations.
  
  
• Responsible gaming: Caesars Entertainment celebrated 30 years of Responsible Gaming (RG) leadership in 2019. Caesars created the first comprehensive RG program in the industry, which includes structured RG training for team members. In 2019, nearly 50,000 team members received RG training.
  
  
• Family values at work: In 2019, Caesars invested 1.51 million hours in training and development for team members, an average of 27 hours per team member per year.
  
  
• Environmental sustainability: In 2019, on a normalized basis per 1,000 sq. ft, Caesars used 2% less energy, 3% less water and generated 13% less total waste than the prior year.
  
  
• Governance: In 2020, following completion of the merger, Caesars Entertainment immediately created a new CSR Committee of the Board of Directors. The Committee will drive CSR strategy and oversee CSR and ESG progress, remaining true to the legacy of the past 20 years.

About Caesars Entertainment, Inc.
Caesars Entertainment, Inc. (NASDAQ: CZR) is the largest casino-entertainment company in the U.S. and one of the world's most diversified casino-entertainment providers. Since its beginning in Reno, Nevada, in 1937, Caesars Entertainment has grown through development of new resorts, expansions and acquisitions. Caesars Entertainment's resorts operate primarily under the Caesars®, Harrah's®, Horseshoe® and Eldorado® brand names. Caesars Entertainment offers diversified amenities and one-of-a-kind destinations, with a focus on building loyalty and value with its guests through a unique combination of impeccable service, operational excellence and technology leadership. Caesars Entertainment is committed to its employees, suppliers, communities and the environment through its PEOPLE PLANET PLAY framework. For more information, please visit www.caesars.com/corporate.

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SOURCE Caesars Entertainment, Inc.

FAQ

What is the significance of the PEOPLE PLANET PLAY Report from Caesars Entertainment?

The PEOPLE PLANET PLAY Report underscores Caesars' commitment to corporate social responsibility, highlighting key areas like diversity, community contribution, and responsible gaming following its merger with Eldorado Resorts.

How did the merger affect Caesars Entertainment's corporate social responsibility efforts?

The merger with Eldorado Resorts allowed Caesars to enhance its CSR initiatives, culminating in the establishment of a new CSR Committee to oversee and drive future strategies.

What financial contributions did Caesars Entertainment make to communities in 2019?

In 2019, Caesars Entertainment contributed $67 million to various community efforts, equating to nearly 46 cents from every dollar of revenue.

How does Caesars Entertainment ensure diversity and inclusion within its management?

As of 2019, Caesars reported 45% women and 35% racial diversity in management roles, reflecting its commitment to equity in leadership.