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MGM Resorts International Recognized for Climate Change, Water Security Transparency

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MGM Resorts International has been recognized for leadership in corporate transparency and performance on climate change and water security by global environmental non-profit CDP, securing a place on the organization’s annual A List.

“This marketplace recognition by CDP is a reflection of our ongoing strategic prioritization of sustainability across our business operations and supply chain. We are fiercely committed to corporate environmental leadership and continuing our efforts around water stewardship and the fight against climate change,” said Jyoti Chopra, Chief People, Inclusion and Sustainability Officer at MGM Resorts.

Based on data reported through CDP’s 2022 Climate Change and Water Security questionnaires, MGM Resorts is one of 57 companies to achieve a double-A rating on climate change and water security, out of more than 15,000 scored. A detailed and independent methodology is used by CDP to assess companies, allocating a score of A to D-minus, based on the comprehensiveness of disclosure, awareness and management of environmental risks, and demonstration of best practices associated with environmental leadership, such as setting ambitious and meaningful targets. Those who do not disclose or provided insufficient information are scored an F.

“Environmental transparency is the first vital step towards a net-zero and nature-positive future. In a year of ever-increasing environmental concerns around the world – from extreme weather to unprecedented losses to nature – the need for transformational, urgent and collaborative change is more critical than ever. As CDP continues to raise the bar on what qualifies as climate, forests and water leadership, we hope to see the ambitions and actions of companies on the A List – and those wanting a place on it – do the same,” said Dexter Galvin, Global Director of Corporations and Supply Chains at CDP.

MGM Resorts is focused on creating a more environmentally sustainable future, recognizing that climate change presents significant risks and opportunities to business, people and the planet. The Company has adopted a culture of innovation to reduce emissions and continues to take bold steps toward climate leadership in the industry.

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Golden Entertainment Announces Leadership Changes

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Golden Entertainment Announces Leadership Changes

 

Golden Entertainment Inc. announced that effective March 20, 2024, Blake Sartini II, Golden’s Executive Vice President of Operations, became the Company’s Chief Operating Officer.

“Blake has worked in every capacity throughout our organization since he started at Golden almost 17 years ago. His unique knowledge of our Company’s culture, commitment to operational excellence, and strong leadership skills make him the ideal individual to be given responsibility for all our Nevada casino resorts, locals properties, tavern operations and related corporate functions,” Blake Sartini, Chairman and CEO of Golden, said.

Blake Sartini II initially joined Golden in June 2007, working with Golden’s tavern operations and building what is now the largest branded tavern portfolio in Nevada with 69 locations. Currently, as Executive Vice President of Operations, in addition to oversight of Golden’s taverns, he has direct responsibility for the Company’s five local casinos in Las Vegas and Pahrump.

Steve Arcana, Golden’s current Chief Operating Officer, became the Company’s Chief Development Officer also effective March 20, 2024. In this newly created role, Mr. Arcana will be responsible for all new tavern development, finding new third-party food and beverage concepts for the Company’s casino resorts, and exploring opportunities to unlock value in the Company’s excess real estate in Las Vegas, Laughlin and Pahrump. Mr. Arcana initially joined Golden in 2003 and has overseen the Company’s operations as it has grown from a privately held, 900-slot machine route operation to a publicly traded gaming company with casinos in Las Vegas, Laughlin and Pahrump in addition to its significant tavern portfolio.

“Steve has been with Golden for over 20 years and has been an integral part of growing our business and guiding us through many challenges. Steve has established a strong operating team and has been a consistent leader throughout his decades at Golden. His long history and extensive experience in the industry will continue to benefit the Company in his new role focused on creating value from new tavern development and unused assets in our casino portfolio,” Mr. Sartini said.

“These management changes will allow Golden to focus on maximizing performance in our core operations while exploring opportunities to drive future improvement by bringing potential new concepts to our existing portfolio. I am confident the changes to Blake and Steve’s roles with the Company will position us well to create additional shareholder value,” Mr. Sartini added.

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MGM Resorts International Announces Proposed Senior Notes Offering

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MGM Resorts International Announces Proposed Senior Notes Offering

 

MGM Resorts International announced that it proposes to offer $750,000,000 in aggregate principal amount of senior notes due 2032.

The Company intends to use the net proceeds from the offering of the notes to repay existing indebtedness, including its outstanding 6.750% senior notes due 2025. Pending such use, the Company may invest the net proceeds in short-term interest-bearing accounts, securities, or similar investments.

The notes being offered will be general unsecured senior obligations of the Company, guaranteed by substantially all of the Company’s wholly-owned domestic subsidiaries that guarantee the Company’s other senior indebtedness, and equal in right of payment with all existing or future senior unsecured indebtedness of the Company and each guarantor.

Deutsche Bank Securities Inc., BofA Securities, Inc., Barclays Capital Inc., BNP Paribas Securities Corp., Citigroup Global Markets Inc., Citizens JMP Securities, LLC, Fifth Third Securities, Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Scotia Capital (USA) Inc., SMBC Nikko Securities America, Inc., and Truist Securities, Inc. will act as joint book-running managers and Goldman Sachs & Co. LLC, PNC Capital Markets LLC, U.S. Bancorp Investments, Inc., and Wells Fargo Securities, LLC will act as co-managers for the proposed offering.

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Penn Entertainment Names Anuj Dhanda to Board of Directors

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Penn Entertainment Names Anuj Dhanda to Board of Directors

 

PENN Entertainment announced that its Board of Directors has appointed Anuj Dhanda to the Board, subject to customary regulatory approvals. Mr. Dhanda’s appointment expands the size of the Board to ten members, nine of whom satisfy the standards for director independence under the current Listing Rules of the NASDAQ Stock Market.

Mr. Dhanda serves as Executive Vice President and Chief Technology and Transformation Officer for Albertsons, a Fortune 100 Idaho-based chain of grocery stores with locations across the US. He joined Albertsons in 2015 in the midst of the company’s $9 billion acquisition of the Safeway grocery store chain. He was responsible for successfully merging the two companies’ technology platforms together. In his current role, he partners with business leaders to leverage technology to create a competitive advantage for the company. He is responsible for IT architecture, application platforms, supply chain modernization, data analytics, infrastructure and information security. He has also been the driver behind the company’s move to the cloud, making Albertsons one of the few enterprise businesses to have completely migrated their data centers to the Cloud. Mr. Dhanda is also focused on the acceleration of the business through the use of AI.

Prior to joining Albertsons, Mr. Dhanda was Sr. Vice President of Digital Commerce and CIO at Giant Eagle, a leading retailer in the Midwest, where he was accountable for managing all aspects of technology apps, architecture, infrastructure and more. Additionally, Mr. Dhanda held CIO roles at PNC Financial Services for nearly 15 years.

Mr. Dhanda has been active in numerous professional and philanthropic causes including the CIO Council for Greylock; President’s Council for Oracle; former Chairman of the Board at the Mattress Factory Museum; board member at Carnegie Museum of Art; and board member of United Way of Allegheny County. He has also served on the Board of BlueLinx (NYSE BXC) since May 2023. Mr. Dhanda has been recognized by CIO100 and was an honoree of the CIO Hall of Fame in 2019. He received both his MBA and Ph.D. in Finance from Rutgers University.

Marla Kaplowitz, Chair of PENN’s Nominating and Corporate Governance Committee of the Board of Directors, said: “We are delighted to welcome Anuj to the Board. He is a well-respected technology leader in the consumer space and is known for building powerful and collaborative teams. His deep understanding of the rapidly evolving technology landscape, including topics such as AI and cybersecurity, will be a tremendous resource for us as we continue to evolve our business around an omnichannel retail and interactive gaming, sports betting and entertainment experience for our industry leading database of customers.”

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