Caesars releases annual corporate social responsibility report

The firm is working toward a reduction in emissions of 100 per cent by 2050.
The firm is working toward a reduction in emissions of 100 per cent by 2050.

The report provides details on environmental impact, diversity, equity and inclusion.

US.- Caesars Entertainment has released its 2022 Corporate Social Responsibility report. The report details progress in five areas: environmental impact, diversity, equity and inclusioncommunity investment and education.

In terms of environmental impact, Caesars reports that it is working to divert waste from landfills, reduce water consumption and reduce the company’s carbon footprint. The firm is working toward a reduction in Scope 1 + 2 emissions by 100 per cent by 2050. In 2022, Caesars achieved an interim target in Scope 1 + 2 emissions of 41.8 per cent and reduced water consumption by 14 per cent compared to 2019.

Caesars has pledged goals of achieving gender and racial parity in leadership roles by 2025. It reported that in 2022, it invested $81m in communities in which it operates. In terms of education, the firm launched a new educational assistance programme for team members in July 2022, All-In On Education. Providing support and security for Caesars team members, the company introduced two new programmes focusing on Team Member benefits.

Heather Rapp, senior vice president of corporate social responsibility for Caesars Entertainment, said: “In 2022 we focused on enhancing our existing goals as well as offering more robust support for our Team Members and communities. This past year’s progress is a reflection of the dedication of our leadership and our Team Members to making an impact both inside and outside of the company.”

In March, Caesars announced two new policies on responsible gaming to coincide with the beginning of March’s National Problem Gambling Awareness Month. It’s expanding its self-exclusion programme and adopting an enhanced 21+ policy.

A universal exclusion policy was implemented by the end of March. With the exception of limited properties that are not yet fully integrated into Caesars’ IT environment, the policy encompassed all Caesars Entertainment’s offerings, including Caesars Sportsbook, igaming and brick-and-mortar facilities.

Caesars Entertainment revenue rises 2% in Q2 2023

For the quarter ended June 30, Caesars has reported revenue of $2.9bn, up 2 per cent compared to the same period last year. During the three-month period, the company also recorded a net income of $920m compared to a net loss of $123m the prior year. H1 net revenue totals $5.7bn.

EBITDA for Q2 was $1bn, up from $978m for the comparable prior-year period; and Same-store Adjusted EBITDA, excluding the Caesars Digital segment, was $996m versus $1bn in Q2 2022.

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