MGM RESORTS INCENTIVIZES EMPLOYEES TO CONSERVE WATER AT HOME WITH A $500,000 GRANT ON WORLD WATER DAY

Rhea-AI Summary

MGM Resorts International partners with SNWA to promote water conservation among employees in Southern Nevada through a $500,000 grant. The initiative aims to enhance existing water savings programs and educate employees on the importance of water conservation.

Insights

Environmental Sustainability Analyst

Examining MGM Resorts' partnership with SNWA from an environmental sustainability perspective highlights a strategic alignment with broader water conservation efforts. This move not only bolsters MGM's corporate social responsibility profile but also potentially mitigates operational risks associated with water scarcity. The $500,000 grant serves as a tangible commitment to resource stewardship, which could positively influence the company's reputation among environmentally conscious consumers and investors. Additionally, the emphasis on employee involvement in water saving measures may enhance corporate culture around sustainability, potentially leading to more innovative practices within the company's operations. The long-term savings from water conservation can also translate into operational cost reductions, contributing to a more financially stable business model in a region where water is a critical concern.

Human Resources Expert

From a human resources standpoint, MGM Resorts' initiative to incentivize employees' water conservation practices represents an investment in employee engagement and corporate citizenship. By providing additional rebates and educational resources, MGM is effectively communicating its values to its workforce and encouraging them to adopt behaviors that align with the company's sustainability goals. This approach can lead to increased employee morale and retention, as workers may feel more connected to the company's mission and recognized for their contributions to a significant environmental cause. Moreover, the program's inclusivity—offering retrofit kits to apartment dwellers and non-homeowners—demonstrates MGM's commitment to engaging its entire workforce, which can further foster a sense of unity and purpose among employees.

Investor Relations Specialist

For investors, MGM Resorts' water conservation efforts, as part of its broader environmental, social and governance (ESG) strategy, may present a compelling narrative. ESG considerations are increasingly important to investors and MGM's proactive stance on water sustainability can be seen as a proactive measure to address future regulatory risks and resource scarcity. The company's past achievements in water savings and its recognition on the CDP A List for water security can be leveraged to attract ESG-focused investors. However, investors may also scrutinize the actual impact of these initiatives on the bottom line and expect transparent reporting on the outcomes of such investments to assess their effectiveness and the return on investment in terms of both environmental impact and financial performance.

Nevada's largest employer partners with SNWA to offer extra water savings incentives

LAS VEGAS, March 21, 2024 /PRNewswire/ -- MGM Resorts International (NYSE: MGM) ("MGM Resorts" or the "Company") announced today that it has partnered with the Southern Nevada Water Authority (SNWA) to incentivize residential water conservation for its more than 50,000 employees in Southern Nevada. Through a $500,000 grant to the SNWA Water Efficiency Improvement Fund, MGM Resorts employees will earn additional rebates when they take advantage of existing SNWA water savings programs that target residential water conservation.

"In light of my pledge to the CEO Water Mandate and commitments to water stewardship in the community, I'm proud to announce a half-million-dollar grant that will educate and empower our employees to make a meaningful impact on water conservation," said Bill Hornbuckle, CEO and President of MGM Resorts. "We're committed to understanding and addressing local water challenges, and this initiative reflects our dedication to community involvement and water sustainability."

The program will educate employees on and enhance existing SNWA incentives for the Water Smart Landscapes Rebate, the Smart Irrigation Controller Rebate and the Smart Leak Detector Rebate. It will also provide employees who request them with a water conservation retrofit kit that reduces indoor water use, making incentives available to apartment dwellers and non-homeowners. Launching on World Water Day, a video training course assigned to all Southern Nevada employees will outline the severity of the area's water crisis, the areas in which MGM Resorts is helping and amplify the existing incentives programs provided by the SNWA.

In its Global Water Policy, MGM Resorts commits to investing in water saving measures and encouraging its stakeholders, including employees, to conserve water at work and home.

"MGM Resorts continues to demonstrate its commitment to water efficiency within its resort operations, saving billions of gallons over the past decade," said John Entsminger, SNWA General Manager. "As the largest employer in Southern Nevada, MGM Resorts is taking meaningful action through this grant to encourage more of its employees to participate in effective water conservation programs that enhance the long-term sustainability of our community."

Other notable water-related actions by MGM Resorts:

• First gaming company and Las Vegas-based company to endorse the CEO Water Mandate
• Nearly 14 billion gallons of water saved between 2007 and 2022 due to conservation efforts
• More than 200,000 square feet of grass replaced with desert friendly landscaping
• Saved 70 million gallons of consumptive water use through HVAC optimization in 2023
• Made the 2022 CDP A List for water security

MGM Resorts is focused on creating a more environmentally sustainable future, recognizing that climate change presents significant risks and opportunities to business, people and the planet. The Company has adopted a culture of innovation to reduce emissions and continues to take bold steps towards climate leadership in the industry. Additional information on MGM Resorts' environmental and sustainability efforts can be found HERE.

About MGM Resorts International
MGM Resorts International (NYSE: MGM) is an S&P 500® global entertainment company with national and international locations featuring best-in-class hotels and casinos, state-of-the-art meetings and conference spaces, incredible live and theatrical entertainment experiences, and an extensive array of restaurant, nightlife and retail offerings. MGM Resorts creates immersive, iconic experiences through its suite of Las Vegas-inspired brands. The MGM Resorts portfolio encompasses 31 unique hotel and gaming destinations globally, including some of the most recognizable resort brands in the industry. The Company's 50/50 venture, BetMGM, LLC, offers U.S. sports betting and online gaming through market-leading brands, including BetMGM and partypoker, and the Company's subsidiary LeoVegas AB offers sports betting and online gaming through market-leading brands in several jurisdictions throughout Europe. The Company is currently pursuing targeted expansion in Asia through the integrated resort opportunity in Japan. Through its "Focused on What Matters: Embracing Humanity and Protecting the Planet" philosophy, MGM Resorts commits to creating a more sustainable future, while striving to make a bigger difference in the lives of its employees, guests, and in the communities where it operates. The global employees of MGM Resorts are proud of their company for being recognized as one of FORTUNE® Magazine's World's Most Admired Companies®. For more information, please visit us at www.mgmresorts.com. Please also connect with us @MGMResortsIntl on Twitter as well as Facebook and Instagram.

About the Southern Nevada Water Authority
The SNWA is a not-for-profit regional entity that manages water conservation, water quality and water resource issues for Southern Nevada. Its members include the Big Bend Water District (Laughlin); the cities of Boulder City, Henderson, Las Vegas, and North Las Vegas; the Clark County Reclamation District; and the Las Vegas Valley Water District.

MGM RESORTS CONTACTS:
Andrea Bruce
Manager, Social Impact & Sustainability Communications
Abruce@mgmresorts.com
(702) 460-6573

 

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SOURCE MGM Resorts International

FAQ

What is the partnership between MGM Resorts International and SNWA about?

MGM Resorts International has partnered with the Southern Nevada Water Authority (SNWA) to incentivize residential water conservation for its employees in Southern Nevada.

How much is the grant provided by MGM Resorts International to SNWA?

MGM Resorts International has provided a $500,000 grant to the SNWA Water Efficiency Improvement Fund.

What existing SNWA water savings programs will employees benefit from?

Employees will benefit from existing SNWA programs targeting residential water conservation such as the Water Smart Landscapes Rebate, Smart Irrigation Controller Rebate, and Smart Leak Detector Rebate.

What additional incentive will MGM Resorts employees receive?

MGM Resorts employees will earn additional rebates when they participate in the existing SNWA water savings programs.

What actions has MGM Resorts International taken in relation to water conservation in the past?

MGM Resorts International has saved nearly 14 billion gallons of water between 2007 and 2022 through conservation efforts and replaced more than 200,000 square feet of grass with desert-friendly landscaping.