Game Changers for Good: Light & Wonder Unveils Its 2023 Global Corporate Social Responsibility Report

Rhea-AI Summary

Light & Wonder (NASDAQ and ASX: LNW) has released its 2023 Global Corporate Social Responsibility Report, highlighting significant progress across its six pillars: People, Community, Planet, Player, Supplier Diversity, and Corporate Governance. Key achievements include:

- $2.3 million in donations and contributions
- Approximately 16,000 volunteer hours to 289 charitable organizations
- Doubled Employee Resource Group membership to 1,300
- Reclaimed $13 million worth of materials from decommissioned gaming machines
- Invested $150,000 in Responsible Gaming organizations
- Launched an ESG Council for global oversight

The company remains committed to creating long-term value for stakeholders, the industry, and communities through its 'Game Changers by Light & Wonder' program.

Positive

• Donated $2.3 million in charitable contributions and sponsorships
• Volunteered approximately 16,000 hours to 289 charitable organizations
• Doubled Employee Resource Group membership from 650 to 1,300
• Achieved 93% participation rate in Global Engagement Survey, up 11% from prior year
• Reclaimed $13 million worth of materials from decommissioned gaming machines
• Invested $150,000 in support of Responsible Gaming organizations and programs
• Invested over $16 million in direct spend with diverse business enterprises

Negative

• None.

Report showcases global initiatives and robust roadmap for Light & Wonder as an industry leader on Environmental, Social and Governance programs

Contributed $2.3 million in total donations, contributions and sponsorships and volunteered approximately 16,000 hours to 289 charitable organizations

LAS VEGAS--(BUSINESS WIRE)-- Light & Wonder, Inc. (NASDAQ and ASX: LNW) (together with its subsidiaries “Light & Wonder,” “L&W” or the “Company”) today released its 2023 Global Corporate Social Responsibility (“CSR”) Report. The report details the Company’s progress and key successes throughout the past year as well as its future goals for the years ahead. Among the highlights are the major efforts of the CSR program and brand, ‘Game Changers by Light & Wonder,’ across the six pillars: People, Community, Planet, Player, Supplier Diversity and Corporate Governance, establishing an ESG Council, doubling membership of our Employee Resource Groups (“ERGs”) and reclaiming approximately $13 million worth of materials from decommissioned gaming machines for refurbishment or recycling.

“Our drive to win as a team showed up in both our fantastic financial results in 2023 and our efforts to pave the way for a sustainable industry. We moved into an exciting new phase of our ESG programs, where we continued to advance our initiatives and see promising results,” said Matt Wilson, President and CEO of Light & Wonder. “I couldn’t be prouder of the way our 6,000-plus team members continued to play their part in helping us build a diverse and welcoming business equipped for long-term success. This work is a long-term endeavor, and I’m truly optimistic about our future impact.”

Light & Wonder is committed to building on its strong Game Changer foundations and will continue to invest in initiatives that create long-term value for stakeholders, the industry, and the communities it serves.

“At Light & Wonder, we’re 'changing the game' for our people, our planet, our players and the communities where we live and work,” said Tracy Skenandore, Vice President of Corporate Social Responsibility. “The Game Changers program is our guiding light and the way we hold ourselves accountable for driving positive, lasting change.”

As the company advances on its CSR journey, Light & Wonder is pleased to share significant progress across its five pillars. Highlights from the report include:

• COMMUNITY: Philanthropy, Volunteerism and Community Partnerships
  • Donated $2.3 million in total donations, charitable contributions and sponsorships of charity events and community organizations and associations, and volunteered approximately 16,000 hours to 289 charitable organizations and community groups worldwide through our Game Changer Volunteer Program.

• PEOPLE: Diversity, Equity and Inclusion
  • Doubled membership and participation in Employee Resource Groups, from 650 to 1,300.
  • Hosted 26 ERG special events globally, including guest speakers and community partners.
  • Contributed approximately $200,000 in support of team members through our Employee Assistance Fund and Week of Wishes programs.
  • Achieved 93% participation rate across all Business Units in our Global Engagement Survey, up 11% from the prior year.

• PLANET: Environmental Sustainability and Sustainable Operations
  • Funded the planting of 5,000 trees through the Canopy Project to assist with reforestation in countries impacted by natural disaster.
  • Donated to and supported the Great Global Cleanup during April where more than 425 employees participated in community cleanups.
  • Reclaimed approximately $13 million in decommissioned gaming machines, diverting valuable materials from landfills.

• PLAYER: Responsible Gaming, Player Protections and Industry Stewardship
  • Invested approximately $150,000 in support of Responsible Gaming organizations and programs and actively sponsor more than 20 Responsible Gaming organizations and industry associations.
  • Invested in systems such as Pre-Commitment software that provides players a tool to personalize and better control their gaming budget in more than 60 casinos across Australia, Canada, New Zealand and the U.S.

• GOVERNANCE: Corporate Governance and Supply Chain Management
  • Launched the new ESG Council for global oversight and internal infrastructure in support of our ESG efforts, as well as four ESG Committees to support internal governance structure and cross-functional collaboration.
  • Successfully onboarded an additional 21 Certified Diverse Employers.
  • Invested more than $16 million in Tier 1 direct spend with diverse business enterprises nationwide as well as $575,000 in Tier 2 indirect spend with diverse suppliers.

Looking ahead to 2024, Light & Wonder’s efforts include implementing a centralized ESG data management platform and continuing our internal evaluations of critical vendors, as well as continuing to build an inclusive culture and promoting Responsible Gaming.

The full report is available on the Light & Wonder website.

For more information, visit lnw.com.

© 2024 Light & Wonder, Inc. or one of its subsidiaries. All rights reserved.

About Light & Wonder, Inc.

Light & Wonder, Inc. is the leading cross-platform global games company. Through our three unique, yet highly complementary businesses, we deliver unforgettable experiences by combining the exceptional talents of our 6,000+ member team, with a deep understanding of our customers and players. We create immersive content that forges lasting connections with players, wherever they choose to engage. At Light & Wonder, it’s all about the games. The Company is committed to the highest standards of integrity, from promoting player responsibility to implementing sustainable practices. To learn more visit www.lnw.com.

Forward-Looking Statements

In this press release, Light & Wonder makes "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as "will," "may," and "should." These statements are based upon management's current expectations, assumptions and estimates and are not guarantees of timing, future results, or performance. Therefore, you should not rely on any of these forward-looking statements as predictions of future events. Actual results may differ materially from those contemplated in these statements due to a variety of risks, uncertainties and other factors, including those factors described in our filings with the Securities and Exchange Commission (the “SEC”), including Light & Wonder’s current reports on Form 8-K, quarterly reports on Form 10-Q and its annual report on Form 10-K that was filed with the SEC on February 27, 2024 (including under the headings "Forward-Looking Statements" and "Risk Factors"). Forward-looking statements speak only as of the date they are made and, except for Light & Wonder’s ongoing obligations under the U.S. federal securities laws, Light & Wonder undertakes no obligation to publicly update any forward-looking statements whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240723695342/en/

Light & Wonder

Media@lnw.com

Source: Light & Wonder, Inc.

FAQ

What were Light & Wonder's (LNW) key CSR achievements in 2023?

Light & Wonder (LNW) donated $2.3 million, volunteered 16,000 hours, doubled Employee Resource Group membership to 1,300, reclaimed $13 million worth of materials from decommissioned gaming machines, and invested $150,000 in Responsible Gaming organizations.

How much did Light & Wonder (LNW) invest in diverse business enterprises in 2023?

Light & Wonder (LNW) invested more than $16 million in Tier 1 direct spend with diverse business enterprises nationwide and $575,000 in Tier 2 indirect spend with diverse suppliers in 2023.

What environmental initiatives did Light & Wonder (LNW) undertake in 2023?

In 2023, Light & Wonder (LNW) funded the planting of 5,000 trees through the Canopy Project, supported the Great Global Cleanup with 425 employees participating, and reclaimed $13 million worth of materials from decommissioned gaming machines.

How did Light & Wonder (LNW) support employee engagement in 2023?

Light & Wonder (LNW) doubled Employee Resource Group membership to 1,300, hosted 26 ERG special events globally, contributed $200,000 to employee assistance programs, and achieved a 93% participation rate in their Global Engagement Survey in 2023.