Gaming and hospitality business Boyd Gaming Corporation announced Tuesday it has issued its 2021 Environmental, Social and Governance report, which highlights its progress in advancing key initiatives in these areas.
“The tenets of ESG have long been a part of Boyd Gaming’s mission," said Keith Smith, President and Chief Executive Officer of Boyd Gaming. "Our latest ESG report provides a comprehensive look at how our Company is fulfilling our ongoing commitment to protecting the environment, treating our stakeholders with respect and integrity, and consistently acting in the best interests of the communities we call home."
The company has committed to reducing its consumption of energy and water, in a move to combat climate change by reducing its carbon footprint and minimizing the amount of waste sent to landfills. Continued reductions in energy consumption, greenhouse gas emissions and water consumption have resulted in cumulative water savings of nearly 1 billion gallons over the past four years; while enhancements to the company’s waste diversion and recycling programs have resulted in a companywide waste diversion rate of nearly 50% in 2021.
Boyd's Fremont Casino in Las Vegas
When it comes to society, the company claimed in its report to strive to be an employer of choice. “We are proud to be a company where team members want to spend a career," the report reads. "We treat every team member with dignity and respect, provide fair wages and attractive benefits, ensure safety in the workplace and promote diversity throughout our workforce." Additionally, nationwide philanthropic efforts have included a $1.4 million pandemic relief campaign that benefitted 16 separate communities across the country.
Boyd says that, as a founding contributor to the International Center for Responsible Gaming, the company knows the importance of promoting responsible gaming throughout its operations and providing extensive support of non-profit organizations across the country. “We are committed to making our communities better places”, the business stated.
In terms of communities, the company remarks its workforce reflects diversity in its composition. In 2021, 17% of Boyd’s employees were Asian-Americans and Pacific Islanders, while African Americans represented 16% of the brand’s workforce. 14% of the staff were Hispanic or Latin American.
.@boydgaming recently issued its 2021 Environmental, Social and Corporate Governance (ESG) report. Check out the report to learn about the Company’s continued progress in advancing key ESG initiatives here: https://t.co/jyVZqLU5kt pic.twitter.com/uHphpb1Hlg— Boyd Gaming Corp (@boydgaming) June 7, 2022
Boyd explains it has promoted diversity and inclusion with team member-led diversity committees at each property, tasked with identifying practical ways to celebrate diversity. The company also mandates diversity awareness training for all team members, including full-time, part-time and on-call; and its purchasing programs have resulted in purchases from diverse vendors exceeding 10% for the third straight year.
The company also stated it is strategically focused on recruiting and promoting diverse team members, managers and executives, and has direct oversight of diversity initiatives by its Board of Directors, which receives a diversity inclusion progress report at every Board meeting.
“It’s important for us to have positive role models in life to inspire us to become more than we ever thought possible on our own. Through accountability, hard work, positivity, persistence and integrity above all, I hope to inspire other women at Boyd to achieve more than they ever thought possible," Lori Nelson Senior Vice President, Financial Operations and Reporting, stated in the report.
In 2021, 9.2% of the company’s total workforce was promoted, where 46.6% were women and 44.3% represented other minority team members.
Meanwhile, when it comes to corporate governance, Boyd Gaming described its approach as a commitment to “always doing the right thing, even if it costs us business."
“Our long-standing commitment to integrity is at the heart of our brand and our culture, and we will never compromise when it comes to acting with the highest of ethics," the report reads. "Across the country, regulators know that Boyd Gaming can be counted on to follow both the letter and the spirit of all applicable regulations."
"We are proud to operate with the utmost integrity, and to apply this approach to every facet of our interactions with all stakeholders”, the company wrote. Also as part of its policy, team members are required to review and acknowledge the Company’s Code of Business Conduct and Ethics on an annual basis.
The report also highlights Boyd's principles for effective governance, which are based on having separate co-executive chair and CEO roles on its Board. All its non-executive directors are independent, and meet in executive sessions at least three times a year. It also has an independent Presiding Director, who chairs all executive sessions.
“We are committed to building a diverse Board of Directors, with 3 diverse directors on our 9-member board, including one of our Co-Executive Chairs," the company wrote. "Our board receives regular updates on our diversity goals and initiatives, which are directly overseen by one of our co-executive chairs."