Posted on: July 7, 2022, 11:06h.
Last updated on: July 7, 2022, 11:06h.
Caesars Entertainment (NASDAQ:CZR) CEO Tom Reeg is joining colleagues from a variety of industries in signing onto the Disability:IN CEO Letter on Disability Inclusion.
Included in joining forces with other chief executive officers to sign that letter, Caesars participates in the Disability Equality Index (DEI). The moves could help the gaming company bolster action aimed at making its workplaces more accessible and inclusive for persons with disabilities.
The DEI is the only global tool for analyzing and measuring disability progress across the enterprise, and gives companies a comprehensive assessment of their own disability inclusion and equality practices. The program is administered by Disability:IN and the American Association of People with Disabilities (AAPD),” according to the organization.
Disability:IN announced Reeg’s inclusion on Twitter earlier today. As of this writing, 117 CEOs are participating and the Caesars boss is the only one from the gaming industry.
Why It Matters for Caesars
While it may appear to be a token gesture by Caesars to have Reeg join the Disability:IN CEO Letter on Disability Inclusion, the reality is companies, including casino operators, are increasingly prioritizing environmental, social and governance (ESG) principles.
ESG investing is an increasingly popular style among money managers and retail investors. However, many of the equity benchmarks that adhere to ESG principles intentionally exclude specific industries. Those typically include adult entertainment, alcohol, civilian firearms manufacturers, tobacco, and, yes, casino gaming.
Still, gaming companies are making ESG inroads, many of which are apparent on the sustainability front, including environmental and food recycle efforts.
For example, the Harrah’s operator is looking to increase its use of solar power in Nevada, and is mulling solar-covered parking at its venues in Atlantic City, New Jersey. The company also has an extensive portfolio of electric vehicle (EV) charging stations across its roster of properties.
Caesars Showing Commitment
It remains to be seen how Caesars signing onto the Disability:IN CEO Letter on Disability Inclusion materializes in terms of elevated hiring of persons with disabilities, but it is clear the company is taking social responsibility seriously. It even has a committee dedicated to that effort.
“The Committee’s scope includes public policy, regulatory environments, corporate responsibility programs, and issues that may, in the view of the Committee, affect the business, shareholder value, or other stakeholders from a sustainability and D&I perspective. The Committee shall provide guidance to the Board and/or other Board committees, set direction, and oversee corporate responsibility programs. It may also perform other duties as delegated periodically by the Board and consistent with its charter,” according to the gaming company.
For companies prioritizing enhanced social responsibility, including hiring of workers with disabilities, there can be tangible benefits.
“Investors representing more than $2.8 trillion in combined assets, led by New York State Comptroller Thomas P. DiNapoli and Oregon State Treasurer Tobias Read, are calling on companies they invest in to create inclusive workplaces that can benefit from employing the millions of talented people with disabilities who remain underrepresented in the workforce,” notes Disability:IN.