MGM Resorts International Achieves Spot on Prominent List of ‘Best Companies for Diversity’ for 10th Year
LAS VEGAS, December 1, 2016 /3BL Media/ – For the tenth year, Black Enterprise (BE) magazine has named MGM Resorts International (NYSE: MGM) one of the "Best Companies for Diversity" in the U.S. based on MGM Resorts’ diversity and inclusion practices. MGM Resorts (the “Company”) is the only company in the gaming industry, and the only company based in Nevada, to be named to the magazine’s list this year.
The 40 companies featured in the publication’s special report demonstrate a commitment to diversity in one or more of four key areas, including: Board of Directors mix, employee diversity, senior management mix and supplier diversity. Of those 40 companies, MGM Resorts, along with McDonald’s Corp., IBM Corp. and Exelon, were the few that demonstrated significant strengths in the four areas surveyed, according to BE.
“Our diversity and inclusion approach as a company is multifaceted, and permeates our culture and business operations,” said Phyllis A. James, Chief Diversity and Corporate Responsibility Officer for MGM Resorts International. “We proactively incorporate best diversity and inclusion practices throughout our enterprise because it is a vital part of our culture and integral to our long-term competitive strength.”
This year’s Best Companies for Diversity honorees were recognized at the Executive Leadership Council’s 2016 Recognition Gala on Thursday, November 3 at the Marriott Marquis in Washington D.C. Among other companies named to the “40 Best” list are: Aflac Inc., American Express Co., The Coca Cola Company and Allstate Corporation.
In compiling this year's list, the BE research team sent surveys to more than 1,000 of the largest publicly traded companies and global companies with significant U.S. operations. The questionnaire focused on activities related to the participation of African Americans and members of other defined ethnic minority groups in the culture and business of participating companies. The complete report, including methodology and selection criteria, is available in the November 2016 issue of BE.
In 2000, MGM Resorts pioneered the gaming industry's first voluntary Diversity and Inclusion initiative. That year the Company installed a policy requiring minority business enterprise (“MBE”) participation in all construction bids, followed in 2003 by a policy mandating MBE participation in all biddable commodity procurement contracts and purchases exceeding $1,000. Since the establishment of those policies, the Company has spent more than $3 billion with certified diverse-owned (including women-owned) business enterprises. Not only has MGM Resorts been the industry leader, but it has also become a widely acclaimed corporate leader in Diversity and Inclusion. Some of the Company’s recent highlights include:
MGM Resorts is an employer of choice with robust talent recruitment and development initiatives. Our workforce is richly diverse, with minorities comprising more than 66% and women almost 51% of our employees. Almost 42% of our management ranks are minority; almost 44% of our managers are women.
- In 2015, MGM Resorts’ expenditures with certified diverse-owned (including women-owned) business enterprises exceeded $139 million. [Based on 2015 data]
- In 2015, MGM Resorts earned top accolades for its diversity best practices from national benchmarks, including: DiversityInc Magazine (No. 4 of Top 10 Regional Companies) and Women’s Business Enterprise National Council (one of America’s top corporations for Women’s Business Enterprises).
For more information about MGM Resorts International’s commitment to diversity and inclusion, please visit: www.mgmresorts.com/csr.
About Black Enterprise
BLACK ENTERPRISE, your ultimate source for wealth creation, is the premier business, investing, and wealth-building resource for African Americans. Since 1970, BE has provided essential business information and advice to professionals, corporate executives, entrepreneurs, and decision makers. Every month, BLACK ENTERPRISE magazine provides 6 million readers with information on entrepreneurship, careers, and financial management. As multimedia company, BLACK ENTERPRISE produces television programming, business and lifestyle events, web content and digital media. BLACK ENTERPRISE is the definitive source of information for and about African American business markets and leaders, and the authority on black business news and trends.
About MGM Resorts International
MGM Resorts International (NYSE: MGM) is one of the world's leading global hospitality companies, operating a portfolio of destination resort brands including Bellagio, MGM Grand, Mandalay Bay and The Mirage. The Company is in the process of developing MGM National Harbor in Maryland and MGM Springfield in Massachusetts. MGM Resorts controls, and holds a 76 percent economic interest in the operating partnership of MGM Growth Properties LLC (NYSE: MGP), a premier triple-net lease real estate investment trust engaged in the acquisition, ownership and leasing of large-scale destination entertainment and leisure resorts. The Company also owns 56 percent of MGM China Holdings Limited (HK: 2282), which owns the MGM Macau resort and casino and is developing a gaming resort in Cotai, and 50 percent of CityCenter in Las Vegas, which features ARIA Resort & Casino. MGM Resorts is named among FORTUNE® Magazine's 2016 list of World's Most Admired Companies®. For more information about MGM Resorts International, visit the company's website at www.mgmresorts.com.
MGM Resorts International