MGM Resorts International (NYSE: MGM) Chairman and Chief Executive Officer James J. Murren and Alexis Herman, Chair of the Company's Diversity and Community Affairs Committee of the Board, today presented the latest results of the Company's Diversity and Philanthropy Initiatives at its formal Annual Diversity & Philanthropy Meeting held at ARIA Resort & Casino. The event marked the 10th anniversary of the Diversity Initiative since it was launched in 2000.
Mr. Murren and Ms. Herman provided information about the progress of the Diversity Initiative, which showed outstanding results in the areas of supplier diversity, construction diversity and employment.
'It has become more important than ever, particularly in today's recessionary economy, that we foster an inclusive culture of excellence aligned with our business mission,' said Ms. Herman. 'As a result, we have emerged as a more cohesive, more productive and more effective Company.'
Mr. Murren and Ms. Herman also provided information about the Company's philanthropic giving and employee giving programs.
The Company's Corporate Charitable Giving Program is committed to supporting basic human needs, access to health care, education and the cultural arts in the communities where the Company operates and employees live and work.
The MGM Resorts Foundation is the public foundation that collects and disburses employee donations to nonprofit charities and causes designated by its employees. Since its inception in 2002, MGM Resorts has disbursed more than $35 million in employee donations.
'Our Company and our employees have donated enormous financial resources and countless hours to a myriad of organizations and causes to advance our host regions,' said Ms. Herman.
The Diversity and Philanthropy benchmarks presented today included:
- Since the start of the Company's two-day Diversity Champion Training Workshop, MGM Resorts has graduated more than 11,000 Diversity Champions.
- About 61 percent of the Company's 62,000 employees are minorities. In the management ranks, about 44 percent of employees in the supervisory ranks are women, and 36 percent of employees in the supervisory ranks are minorities.
- Since 2001, MGM Resorts has expended a cumulative total of more than $1 billion with Minority- and Women-Owned Business Development Enterprises (MWBDE) suppliers, which is nearly 11 percent of the Company's total biddable spend for goods and services.
- Since 2001, MGM Resorts has expended a cumulative total of more than $1.5 billion with MWBDEs in construction work, including professional consultants and contractors.
- Since the MGM Resorts Foundation's employee giving program was established in 2002, employees have donated more than $35 million to support host communities.
- Corporate giving to diverse organizations and individuals increased from 15 percent in 2002 to 51.51 percent in 2009. Employee giving to diverse organizations increased from 37 percent in 2002 to 76.75 percent in 2009.
The Company also presented information about its newest plans, including a new goal set this year to train and graduate 4,000 employees from its Diversity Champions training program by the end of next year, and the recent introduction of the Chairman's Diversity Roundtable sessions with employees.
About MGM Resorts International
MGM Resorts International (NYSE: MGM) is one of the world's leading global hospitality companies, operating a peerless portfolio of destination resort brands, including Bellagio, MGM Grand, Mandalay Bay and The Mirage. The Company has significant holdings in gaming, hospitality and entertainment, owns and operates 15 properties located in Nevada, Mississippi and Michigan, and has 50% investments in four other properties in Nevada, Illinois and Macau. One of those investments is CityCenter, an unprecedented urban resort destination on the Las Vegas Strip featuring its centerpiece ARIA Resort & Casino. Through its hospitality management subsidiary, the Company holds a growing number of development and management agreements for casino and non-casino resort projects around the world. MGM Resorts International supports responsible gaming and has implemented the American Gaming Association's Code of Conduct for Responsible Gaming at its gaming properties. The Company has been honored with numerous awards and recognitions for its industry-leading Diversity Initiative, its community philanthropy programs and the Company's commitment to sustainable development and operations. For more information about MGM Resorts International, visit the Company's website at www.mgmresorts.com.