MGM Resorts International found its place on the environmental nonprofit A-List. The CDP (formerly known as the Carbon Disclosure Project) recognized MGM Resorts for its leadership in corporate transparency and performance on climate change and water security.
In Colorado, a vast majority of taxes collected on Colorado sports betting go toward the Colorado Water Plan. MGM operates the BetMGM sports betting app in Colorado.
Jyoti Chopra, chief people, inclusion and sustainability officer at MGM Resorts, said:
“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.”
MGM Resorts was one of 57 companies to receive a double-A rating from CDP.
How does a company become a CDP A-Lister?
The CDP uses its climate change and water security questionnaires to assess the companies on a scale from A to D. Companies will disclose information in the questionnaires and their data determines a score.
Companies that do not disclose or give insufficient information receive an F.
In 2022 the CDP scored over 15,000 companies. Scores are based on the companies’ disclosure, awareness and management of environmental risks, as well as environmental leadership.
Dexter Galvin, global director of corporations and supply chains at CDP, said:
“Environmental transparency is the first vital step toward 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.”
Colorado sports betting and the Colorado Water Plan
As one of the Colorado sportsbook operators, BetMGM Colorado contributes to the revenue directed toward the Colorado Water Plan. The plan receives funds from the 10% tax on sports betting profits. It funds long-term conservation efforts in Colorado and education, among other things.
When sports betting became legal in November 2019, Proposition DD was approved. The Legalize Sports Betting with Tax Revenue for Water Projects Measure set the allocation of sports betting tax revenue in place.
In 2022 the Colorado Water Plan received over $11 million in fund distribution, a 43% increase from the previous year. In 2023 the plan is to focus on vibrant communities, robust agriculture, thriving watersheds and resilient planning for the state.