Wynn Resorts Issues 2019 Environmental, Social, and Governance Report

Rhea-AI Summary

Wynn Resorts (Nasdaq: WYNN) released its 2019 Environmental, Social, and Governance (ESG) Report, showcasing its commitment to responsible business practices amidst the COVID-19 pandemic. The report highlights Wynn's proactive measures to protect employees and the community, including over $250 million in compensation for 15,000 staff and $3 million in donations to health organizations. Other key achievements include the LEED Platinum certification of Encore Boston Harbor, recognition for solar energy initiatives, and significant charitable contributions over $20 million. The full ESG report is available online.

Positive

• Wynn Resorts invested over $250 million to continue paying 15,000 employees during the COVID-19 pandemic.
• Encore Boston Harbor achieved LEED Platinum certification and is the first resort globally to utilize 100% renewable energy.
• Wynn Las Vegas ranked 9th in corporate solar installations in the U.S.
• The company donated over $20 million to community causes in 2019.

Negative

• None.

LAS VEGAS, June 29, 2020 /PRNewswire/ -- Wynn Resorts (Nasdaq: WYNN) today issued its 2019 Environmental, Social, and Governance (ESG) Report, providing a comprehensive view of the Company's commitment to responsible business practices, environmental protection, and social impact. Also detailed is Wynn Resorts' industry-leading response to the COVID-19 pandemic, outlining steps the Company took to protect the health and well-being of employees, first responders, medical professionals, and vital nonprofit organizations.

The report reflects the strong corporate values and core behaviors that govern Wynn Resorts' business and guide the Company's commitment to solving complex social responsibility issues facing the hospitality industry. In the report's forward, Wynn Resorts CEO Matt Maddox remarked, "A company's response to tough challenges will always be easier, faster and better if its people all share a common set of values. Companies shift and sometimes common goals shift with it. But the values can't change; they must be enduring. At Wynn Resorts, our values are enduring. They have been with us since our founding and they guide us today."

The Wynn Resorts 2019 ESG Report outlines progress the Company made toward achieving its ESG goals under the pillars of Our People, Our Communities, and Our Planet. Highlights in the key areas of corporate governance, global growth, workforce development, social impact, and environmental protection include:

• Wynn Resorts' quick and comprehensive response to the COVID-19 pandemic, including closing its North American operations prior to government mandates in an effort to slow community spread of the coronavirus, and investing more than $250 million in paying 15,000 employees their wages, tips, and benefits throughout the closure to help eliminate worry and preserve the Company's culture.
  Among other actions detailed in the report, Wynn also procured and donated more than $3 million worth of financial aid, food, hygiene supplies, and personal protective equipment to dozens of health care facilities and nonprofits; developed the Wynn Resorts Health & Safety program in consultation with leading public health medical professionals, which has become the gold standard in the hospitality industry; and provided no-cost COVID-19 testing for all Las Vegas employees.
• Encore Boston Harbor opened with LEED Platinum certification, and is the first resort in the world to achieve 100 percent renewable energy status by combining on-site power generation, battery storage, and the purchase of renewable energy credits. The heart of this innovative approach is a self-contained microgrid capable of storing unused electricity produced on-site for peak demand. The system significantly reduces the resort's reliance on the regional electric grid, and paves the way for low-carbon energy storage solutions in Massachusetts.
• Wynn Las Vegas ranked 9th on the list of top corporate solar installations in the U.S. according to the Solar Energy Industries Association. Wynn was the only integrated resort to rank as a leading user of solar energy.
• Wynn Las Vegas debuted an eco-friendly 430,000-square-foot convention space expansion, and introduced the city's first Zero Carbon, Zero Waste Event service that ensures the most sustainable meeting or convention possible. The service pairs Wynn's sustainability experts with client event managers to reduce environmental impact across key areas including zero carbon energy offsetting, zero waste recycling, regional food sourcing, aluminum water bottle use, single-use plastic abatement, and event materials upcycling. Wynn is the only resort able to offer zero carbon offsetting in Las Vegas.
• Wynn Las Vegas earned "Great Place To Work" certification by the independent analysts at Great Place To Work®, the global authority on evaluating corporate culture and employee fulfillment, in recognition of its best-in-class professional development initiatives, educational opportunities, and employee benefits.
• Wynn Resorts donated more than $20 million to philanthropic causes in its home communities in support of education programs, cultural enrichment, community development, at-risk youth, and much more. Inclusive of the Company match, Wynn Resorts employees also raised more than $1.1 million in donations, and volunteered more than 65,000 hours of time to charitable causes.
• Introduction of several new employee programs to foster a more diverse and inclusive workplace, including training 12,000 employees on unconscious biases, and the creation of two new employee councils that advocate for the LGBTQ and Veteran's communities. Also in 2019, Wynn Resorts CEO Matt Maddox joined a coalition of more than 800 like-minded CEOs signing on to the CEO Action for Diversity and Inclusion Pledge that prioritizes diversity and inclusion as a workplace imperative.

The Wynn Resorts 2019 ESG Report presents information that references selected Global Reporting Initiative (GRI) Standards and Sustainability Accounting Board Standards (SASB).

The full report is available at www.WynnResponsibility.com, the Company's new ESG-focused website that improves the scope, transparency, and timeliness of publicly available ESG data from Wynn Resorts.

About Wynn Resorts
Wynn Resorts, Limited is traded on the Nasdaq Global Select Market under the ticker symbol WYNN and is part of the S&P 500 Index. Wynn Resorts owns and operates Wynn Las Vegas (wynnlasvegas.com), Encore Boston Harbor (encorebostonharbor.com), Wynn Macau (wynnmacau.com), and Wynn Palace, Cotai (wynnpalace.com).

Wynn and Encore Las Vegas feature two luxury hotel towers with a total of 4,748 spacious hotel rooms, suites and villas, approximately 194,000 square feet of casino space, 22 dining experiences featuring signature chefs and 11 bars, two award-winning spas, approximately 560,000 rentable square feet of meeting and convention space, approximately 160,000 square feet of retail space as well as two showrooms, two nightclubs, a beach club and recreation and leisure facilities. Wynn Las Vegas recently unveiled the new Wynn Golf Club and 18-hole, 129-acre championship golf course, and in February 2020 debuted a 430,000-square-foot meeting and convention space expansion powered by 100 percent renewable energy.

Encore Boston Harbor is a luxury resort destination featuring a 210,000 square foot casino, 671 hotel rooms, an ultra-premium spa, specialty retail, 16 dining and lounge venues, and approximately 71,000 square feet of state-of-the-art ballroom and meeting spaces. Situated on the waterfront along the Mystic River in Everett, Massachusetts, the resort has created a six-acre public park and Harborwalk along the shoreline. It is the largest private, single-phase development in the history of the Commonwealth of Massachusetts.

Wynn Macau is a luxury hotel and casino resort located in the Macau Special Administrative Region of the People's Republic of China with two luxury hotel towers with a total of 1,010 spacious rooms and suites, approximately 252,000 square feet of casino space, 12 food and beverage outlets, approximately 31,000 square feet of meeting and convention space, approximately 59,000 square feet of retail space, and recreation and leisure facilities including two opulent spas, a salon and a rotunda show.

Wynn Palace is a luxury integrated resort in Macau. Designed as a floral-themed destination, it boasts 1,706 exquisite rooms, suites and villas, approximately 424,000 square feet of casino space, 14 food and beverage outlets, approximately 37,000 square feet of meeting and convention space, approximately 106,000 square feet of designer retail, SkyCabs that traverse an eight-acre Performance Lake, an extensive collection of rare art, a lush spa, salon and recreation and leisure facilities.

Contact:
Eric Kreller, Wynn Las Vegas
702-770-3740
eric.kreller@wynnlasvegas.com 

 

View original content to download multimedia:http://www.prnewswire.com/news-releases/wynn-resorts-issues-2019-environmental-social-and-governance-report-301085117.html

SOURCE Wynn Resorts, Limited

FAQ

What is Wynn's response to COVID-19 according to their 2019 ESG Report?

Wynn Resorts closed North American operations before government mandates and paid 15,000 employees over $250 million to alleviate financial worries.

What certifications did Encore Boston Harbor achieve?

Encore Boston Harbor received LEED Platinum certification and is recognized for using 100% renewable energy.

How much did Wynn Resorts donate to charitable causes in 2019?

Wynn Resorts donated over $20 million to various philanthropic causes in 2019.

What are some sustainability efforts highlighted in the 2019 ESG Report?

Wynn Resorts implemented solar energy initiatives and debuted an eco-friendly convention space with zero carbon, zero waste services.