MGM Resorts International, a prominent player in the gaming and hospitality industry, has taken a groundbreaking step towards environmental sustainability by becoming the first gaming company to endorse the United Nations CEO Water Mandate. This global initiative underscores MGM Resorts’ commitment to addressing water crises, a critical challenge exacerbated by climate change. The CEO Water Mandate entails a comprehensive strategy that spans six key elements, emphasizing proactive risk reduction, contributions to water security, and alignment with the UN Sustainable Development Goals. More than 230 global companies have already embraced this mandate, showcasing a shared dedication to a sustainable future.
Driving Sustainability: MGM Resorts’ Proactive Measures
MGM Resorts has demonstrated its dedication to water conservation through tangible actions that extend beyond rhetoric. In response to the arid environmental conditions of Las Vegas, the company has displayed remarkable innovation. Notably, over 200,000 square feet of real grass in Las Vegas has been replaced with drought-tolerant landscaping, contributing to reduced water consumption. Furthermore, the incorporation of water-efficient equipment in various facets of the business, including guest rooms, kitchens, and laundry facilities, has shown a commitment to sustainable operations.
The company’s innovative spirit extends to water sourcing as well. Leveraging an onsite well and responsibly utilizing pool drainage from the renowned ‘O’ Theater as a water source for Lake Bellagio, MGM Resorts showcases a resourceful approach to addressing water scarcity challenges. These measures highlight the company’s ability to merge operational excellence with environmental responsibility.
A Holistic Approach: The Global Water Policy
MGM Resorts’ endeavor to conserve water is encapsulated by its comprehensive Global Water Policy. This policy, a blueprint for water sourcing and management across its global operations, exemplifies the company’s ambition to institutionalize sustainability. By setting out guidelines for responsible water usage and management, MGM Resorts positions itself as a pioneer in integrating sustainable practices into its core operations.
Quantifiable Impact: Data-Driven Progress
The figures substantiate MGM Resorts’ commitment to sustainability. Over the period from 2007 to 2021, the company achieved an impressive 37% reduction in water consumption. This reduction equates to a staggering avoidance of 5.6 billion gallons of water, an achievement made possible through a combination of conservation efforts and the incorporation of water-efficient technologies in its buildings. These achievements not only highlight the company’s dedication but also underscore the effectiveness of strategic sustainability initiatives.
Leadership Speaks: Bill Hornbuckle’s Vision
Bill Hornbuckle, CEO and President of MGM Resorts International, articulates the significance of their commitment. In the context of Las Vegas’ unique environmental conditions, characterized by water scarcity, Hornbuckle emphasizes the city’s history of innovative water management. This legacy of innovation serves as a foundation upon which MGM Resorts builds its own sustainable practices. Furthermore, Hornbuckle underscores the broader implications of their commitment, noting that the ongoing drought and the impact of climate change necessitate collective action. By endorsing the CEO Water Mandate, MGM Resorts aspires to not only share its insights but also bolster its own commitments while inspiring others to follow suit.
Sustainable Growth: Financial Milestones
In parallel with its sustainability efforts, MGM Resorts reports impressive financial performance. The company’s revenue for the fourth quarter ending on December 31 surged by 18% compared to the previous year, reaching $3.6 billion. This growth can be attributed to increased business and travel activity at its Las Vegas Strip properties, bolstered by the inclusion of results from the recently acquired Cosmopolitan. Despite posting a $2 million loss for the quarter, MGM Resorts’ net income increased significantly, underscoring the company’s ability to balance sustainability with financial success.
A Blueprint for Industry Transformation
MGM Resorts’ endorsement of the CEO Water Mandate signifies a pivotal moment in the gaming and hospitality sector’s journey towards sustainability. By embracing this global initiative, MGM Resorts positions itself as a leader committed to addressing water crises while fostering sustainable growth. Through innovative measures such as water-efficient landscaping, responsible water sourcing, and the creation of a Global Water Policy, the company establishes a blueprint that others can follow. MGM Resorts’ achievements serve as a testament to the potential for harmonizing business excellence with environmental stewardship, setting the stage for a more sustainable and responsible industry future.