Caesars Entertainment has unveiled its highly anticipated 2022 Corporate Social Responsibility (CSR) report, providing a detailed account of the company’s progress in key areas such as environmental impact, diversity, equity and inclusion (DEI), community investment, and education. This comprehensive report reflects Caesars’ commitment to responsible business practices and highlights notable achievements in its ongoing efforts to create a positive impact on the environment, society, and the communities it serves.
Environmental Impact:
Caesars is actively engaged in initiatives to minimize its environmental footprint, with a focus on waste reduction, water conservation, and carbon footprint reduction. The company aims to achieve a 100% reduction in Scope 1 + 2 emissions by 2050, and as of 2022, it has already achieved an interim target of 41.8%. Water consumption has been reduced by 14% compared to 2019, showcasing the company’s dedication to sustainable practices.
Diversity, Equity, and Inclusion (DEI):
Caesars has set ambitious goals to achieve gender and racial parity in leadership roles by 2025. The report outlines the company’s progress in promoting DEI, emphasizing its commitment to fostering an inclusive workplace that values diversity. These initiatives aim to create a more equitable and representative leadership structure within the organization.
Community Investment:
In 2022, Caesars invested $81 million in the communities where it operates, underscoring its dedication to making a positive impact beyond its business operations. The report details the various community initiatives and projects supported by Caesars, reflecting the company’s commitment to being a responsible corporate citizen.
Education Initiatives:
Caesars introduced the “All-In On Education” program in July 2022, a new educational assistance initiative for team members. The report delves into the specifics of these educational programs, highlighting the company’s commitment to supporting its team members’ personal and professional development.
Responsible Gaming Policies:
Caesars announced two new responsible gaming policies in March, aligning with National Problem Gambling Awareness Month. The policies include an expanded self-exclusion program and an enhanced 21+ policy, demonstrating the company’s commitment to promoting responsible gaming practices across its offerings.
Financial Performance:
For the quarter ending June 30, Caesars reported a revenue of $2.9 billion, marking a 2% increase compared to the same period in the previous year. The net income for the quarter reached $920 million, a substantial improvement from the net loss of $123 million reported the previous year. The H1 net revenue totals $5.7 billion, showcasing the company’s financial resilience.
EBITDA and Financial Metrics:
Caesars reported an EBITDA of $1 billion for Q2, up from $978 million in the comparable prior-year period. Same-store Adjusted EBITDA, excluding the Caesars Digital segment, was $996 million compared to $1 billion in Q2 2022. These financial metrics reflect the company’s strong performance and financial stability.
CEO Insights:
Heather Rapp, Senior Vice President of Corporate Social Responsibility for Caesars Entertainment, expressed satisfaction with the company’s progress in 2022. She highlighted the dedication of Caesars’ leadership and team members to making a positive impact both within and outside the company.
Future Outlook:
As Caesars continues to focus on enhancing its existing goals and providing robust support for its team members and communities, the report sets the stage for ongoing success and positive contributions to society. Caesars anticipates completing the acquisition of the MeridianBet Group, a strategic move that is expected to transform the company into a dynamic and highly profitable global gaming entity.
Caesars Entertainment’s 2022 CSR report showcases the company’s commitment to environmental sustainability, social responsibility, and financial resilience. The comprehensive overview provides insights into Caesars’ multifaceted initiatives, emphasizing its role as a responsible corporate entity dedicated to making a positive impact on various fronts. As the company looks toward the future, the report sets a positive trajectory for Caesars Entertainment’s continued success in the gaming industry and beyond.