Caesars Entertainment 2016 Citizenship Report: Sustained Progress and Leadership01/08/2016
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In 2015 Caesars Entertainment Corporation (NASDAQ:CZR) and related entities generated $4.4m of contributed value for every $10m in revenue, according to the company’s seventh annual Corporate Citizenship Report. The report, entitled “Connecting for #Citizenship,” covers 2015 and the first half of 2016, and showcases the positive impact on guests, employees, the environment and its communities as a result of Caesars’ many corporate responsibility initiatives.
Delivering Economic Value
In the past four years Caesars has generated more than $39 billion enterprise-wide in economic value, including $9 billion, or 87% of the enterprise’s total value generated, in 2015. Furthermore, in 2015, Caesars generated $4.4 million enterprise-wide of value for every $10 million in revenue, triple the estimated average of U.S. corporations. Caesars employees also contribute value to their communities, including in non-financial ways. For example, 45% of employees engaged in volunteer activity, versus the national average of 25%.
Caesars’ Responsible Gaming program includes research, innovative technology and providing practical tools and comprehensive training for all its staff. In addition, the company applies self-exclusion across all its properties, preventing guests who self-exclude at one property from gambling at other Caesars properties. Caesars has 796 Responsible Gaming Ambassadors at properties around the country, and 45,000 employees were trained in RG in 2015.
Caesars, which hosts nearly 16,000 meetings each year, also strengthened its Responsible Meetings program by launching a “Meetings for Good” option, whereby Meetings customers can enrich their event by contributing to the efforts of local non-profit partners. Caesars has certified 100% of its sales managers in its Responsible Meetings protocol.
A Global Citizen
As part of a review and update of its material impacts, Caesars undertook a mapping process to the global SDGs. It selected eight of the 17 SDGs where the company has already made significant contributions and can expand its impact in coming years.
Caesars has published its public position on relevant issues including Equality, Climate Change, Immigration Reform, Corporate Transparency, Healthcare, Responsible Suppliers, and Human Trafficking. In accordance with World Resources Institute, CDP and other climate leaders, the company has committed to science-based carbon reduction goals.
Environmental Strategy - CodeGreen
Continuing its progressive success since its base year of 2007, Caesars again delivered award-winning performance against its CodeGreen environmental performance metrics and 2025 goals. The CodeGreen initiative saves over $50m annually in avoided utility costs realized through efficiency improvements and waste diversion. Highlights of the company’s progress include:
- 23% energy reduction per air-conditioned 1,000 square feet since 2007;
- 28% greenhouse gas emissions reduction per air-conditioned 1,000 square feet since 2007;
- 20% water use reduction per air-conditioned 1,000 square feet since 2008;
- 28% reduction in total waste in 2015 and 38% of waste diverted away from landfills
Investing in Employee Training and Wellbeing
In 2015 Caesars invested more than 1.6 million hours in employee training and development, and reimbursed more than $550,000 to employees for education and tuition.
Caesars award-winning Wellness Rewards program has consistently achieved high participation rates of more than 80% of eligible employees and their covered spouses, double the median rate of 40% reported by companies of similar size. Collectively, employees have reduced their cholesterol by 29%, and blood pressure by 10% over the last 5 years, and, on average participating employees save more than $2,500 per year on their plan contributions. Plan management, including Wellness Rewards, contributed to the company’s benefit cost savings of more than $122m over the past four years.
Diversity & Inclusion
Caesars maintains a strong emphasis on diversity; 42% of managers are women, compared to the national average of 39.5%, and 34% are employees from minority groups, versus 22.6% nationally. For the ninth consecutive year, Caesars received a perfect score for the Human Rights Campaign Corporate Equity Index.
The Connecting for #Citizenship report uses Tweets to illustrate its engagement with diverse stakeholders. In the six months to June 30 2016 the @citizencaesars Twitter handle saw a 117% increase in engagement.
Caesars’ core priorities are identified through a comprehensive process involving feedback from stakeholders, consultations with external experts and reviews by Caesars’ Environment, Social and Governance (ESG) Council. “Connecting for #Citizenship” is written in accordance with the GRI G4 Sustainability Reporting Guidelines, core option.
For more information on Caesars’ Corporate Citizenship, please follow @CitizenCaesars on Twitter and visit the Corporate Citizenship blog at http://caesarscorporate.com/about-caesars/caesars-citizenship-blog.
About Caesars Entertainment
Caesars Entertainment Corporation (CEC) is the world's most diversified casino-entertainment provider and the most geographically diverse U.S. casino-entertainment company. CEC is mainly comprised of the following three entities: the majority owned operating subsidiary Caesars Entertainment Operating Company, wholly owned Caesars Entertainment Resort Properties and Caesars Growth Properties, in which we hold a variable economic interest. Since its beginning in Reno, Nevada, 75 years ago, CEC has grown through development of new resorts, expansions and acquisitions and its portfolio of subsidiaries now operate 50 casinos in 13 U.S. states and five countries. The Company's resorts operate primarily under the Caesars®, Harrah's® and Horseshoe® brand names. CEC's portfolio also includes the London Clubs International family of casinos. CEC is focused on building loyalty and value with its guests through a unique combination of great service, excellent products, unsurpassed distribution, operational excellence and technology leadership. For 15 years, the Caesars Code of Commitment has underpinned its approach to citizenship and responsible business practices while inspiring employees, guests, partners and communities to share in making a positive contribution to society and protecting the environment. For more information, please visit www.caesarscorporate.com.
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