PENN Entertainment Publishes 2022 Corporate Social Responsibility Report

Rhea-AI Summary

PENN Entertainment, Inc. has released its 2022 Corporate Social Responsibility (CSR) report highlighting significant advancements in its CSR initiatives. Key achievements include:

• Completion of the first Scope 1 & 2 Greenhouse Gas Emissions Inventory.
• Expansion of the STEM Scholarship Program in partnership with Historically Black Colleges and Universities.
• Implementation of mandatory diversity training for all employees.
• Development of a framework to track ESG efforts.
• Introduction of ESG metrics in executive compensation.
• Contribution of $7.6 million to local charities and 8,000 hours volunteered by employees.
• PENN Interactive received the Responsible Gambling Council's RG Check iGaming Accreditation.

CEO Jay Snowden emphasized the commitment to ongoing CSR initiatives that reflect PENN's core values.

Positive

• Completion of first Scope 1 & 2 Greenhouse Gas Emissions Inventory
• Expansion of STEM Scholarship Program in partnership with HBCUs
• Implementation of mandatory diversity training for all employees
• Development of a data-driven framework for tracking ESG efforts
• Inclusion of ESG metrics in long-term executive compensation
• Contribution of $7.6 million and 8,000 hours volunteered to local charities
• Received RG Check iGaming Accreditation from the Responsible Gambling Council

Negative

• None.

Report Details how PENN has Advanced its CSR Priorities, Including Expanded Diversity, Equity and Inclusion (‘DE&I’) Programs and New Environmental Initiatives

WYOMISSING, Pa.--(BUSINESS WIRE)-- PENN Entertainment, Inc. (Nasdaq: PENN)(“PENN” or the “Company), North America’s leading provider of integrated entertainment, sports content and casino gaming experiences, published today its 2022 Corporate Social Responsibility (“CSR”) report. The full report is available on the corporate responsibility page of the Company’s website.

The report details the significant progress PENN has made in advancing its CSR priorities over the last year, including:

• Completed first Scope 1 & 2 Greenhouse Gas Emissions Inventory, as well as inaugural Sustainability Accounting Standards Board (“SASB”) aligned disclosure;
• Expanded Science, Technology, Engineering and Mathematics (“STEM”) Scholarship Program in partnership with Historically Black Colleges and Universities (“HBCUs”);
• Completed mandatory in-house diversity training program for all Team Members;
• Created data-driven framework to track and compile ESG efforts across the company;
• Began using ESG metrics as a portion of PENN’s long-term incentive executive compensation program;
• Contributed $7.6 million, and our Team Members volunteered 8,000 hours, to support local charitable organizations in our communities;
• PENN Interactive became the first U.S. operator to voluntarily undergo the Responsible Gambling Council’s (“RGC”) RG Check iGaming Accreditation, one of the world’s most comprehensive responsible gambling accreditation programs.

Jay Snowden, CEO and President of PENN Entertainment commented: “I am proud of the significant progress we made last year in growing our CSR efforts in the areas that matter most to our team members, customers, community partners and key stakeholders. Through the tireless efforts of our ESG and Diversity Committees, in partnership with our Nominating and Corporate Governance Committee and Corporate Board of Directors, we expanded our DE&I initiatives and sustainability efforts, while furthering our support for the underserved in our communities.

“In the year ahead, we are committed to continuing to advance our CSR priorities through the ongoing creation of new and sustainable initiatives that reflect our unique PENN culture and are at the heart of our company’s core values,” concluded Mr. Snowden.

About PENN Entertainment

PENN Entertainment, Inc. (Nasdaq: PENN) is North America’s leading provider of integrated entertainment, sports content and casino gaming experiences. PENN operates 43 properties in 20 states, online sports betting in 17 jurisdictions and iCasino in five jurisdictions under a portfolio of well-recognized brands, including Hollywood Casino^®, L’Auberge^®, Barstool Sportsbook and Casino^® and theScore Bet Sportsbook and Casino^®. In 2023, PENN acquired Barstool Sports, Inc. (“Barstool”), which combined with the reach and highly engaged user base of Score Media and Gaming Inc. (“theScore”), creates a significant digital footprint and growing customer ecosystem. PENN’s highly differentiated strategy, which is focused on organic cross-sell opportunities, is reinforced by its investments in market-leading retail casinos, sports media assets and technology, including a state-of-the-art, fully integrated digital sports and online casino betting platform and an in-house iCasino content studio. The Company’s portfolio is further bolstered by its industry-leading PENN Play^™ customer loyalty program, which offers its approximately 26 million members a unique set of rewards and experiences across our various channels. PENN is deeply committed to fostering a culture that welcomes a diverse set of customers and dedicated team members. The Company has been consistently ranked in the top two as “Employer of First Choice” over the last nine years in the Bristol Associates-Spectrum Gaming’s Executive Satisfaction Survey. In addition, as a long-standing good corporate citizen, PENN is also committed to creating a culture of responsible gaming, being a trusted and valued member of its communities and acting as a responsible steward of our finite natural resources.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230425005883/en/

Eric Schippers

Senior Vice President, Public Affairs

PENN Entertainment

610/373-2400

Source: PENN Entertainment, Inc.

FAQ

What are the highlights from PENN Entertainment's 2022 CSR report?

The report highlights the completion of greenhouse gas emissions inventory, expansion of the STEM Scholarship Program, mandatory diversity training, and significant charitable contributions.

What initiatives does PENN Entertainment have in place for diversity and inclusion?

PENN has implemented mandatory diversity training for all employees and expanded its DE&I initiatives through various programs.

How much did PENN Entertainment contribute to local charities in 2022?

PENN contributed $7.6 million to local charities and its team members volunteered 8,000 hours.

What is the significance of PENN's RG Check iGaming Accreditation?

It signifies PENN Interactive as the first U.S. operator to voluntarily undergo this comprehensive responsible gambling accreditation.