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G re e n C e r ti f ication s an d Environm e nt al Award s . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . |
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I N G I N D E X E S Ab out This Re p or t . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . |
i sc losure In dex . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . |
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This report is incredibly important to me, and to our Company. |
In these pages I believe you will find that Wynn Resorts brings the same level of robust effort and dedication to our ESG efforts as we do to all our business operations. |
Our planet Our employees are our most valuable asset, and although the sense of pride and ownership they have for their work is strong, we do not take it for granted. |
Wynn’s proprietary and extensive training programs are among the reasons why we are the leader in luxury hospitality. |
At Encore Boston Harbor and Wynn Las Vegas, we’ve added a comprehensive leadership development training program to support supervisors, managers, and directors, covering topics such as effective communication, conflict resolution, emotional intelligence, and time management. |
We’ve significantly expanded the scope of our diversity programs, led by our new Vice President of Diversity and Inclusion. |
In addition to an innovative diversity-focused video series, we have a partnership with several Historically Black Colleges and Universities to help us recruit and develop new leaders for Wynn, with a similar program for internal candidates. |
The deep engagement we undertook with our communities during the height of the pandemic has not abated. |
In North America, we supported our communities with $2.9 million in charitable giving. |
In addition, our employee-funded Wynn Employee Foundation, awarded $and Las Vegas, and provided $207,919 in employee scholarships. |
We do not hesitate to roll up our sleeves whenever possible. |
Our team volunteered more than hours to combat food insecurity, support veterans, help in education and community beautification, and Las Vegas alone hosted 120 volunteer events last year. |
We feel good about our track record in environmental sustainability. |
In Las Vegas, our desert environment keeps us keenly focused on water resources, and so we’ve reduced our overall water consumption by 16% since 2019– despite enjoying many months of record-breaking guest visitation. |
Our more than to harness solar power through our own solar farm, meeting 75% of our peak demand from solar and other renewable resources. |
In Boston, our resort obtains and green power resources, and we’ve now diverted 100% of that resort’s waste from landfills. |
As proud as I am of these and the other accomplishments mentioned in this report, I’m confident our record will continue to improve thanks to a talented and dedicated team. |
O V E R N A N C E R E P O R T Wynn Resorts received more Five-Star Awards than any independent hotel company in the world from the 2022 Forbes Travel Guide Awards. |
Who We Are Wynn Resorts was named to FORBES MAGAZINE’S BEST EMPLOYERS FOR DIVERSITY LIST FOR 2022. |
Wynn Resorts was recognized on Fortune Magazine’s inaugural Modern Board highlights the TOP 25 MOST INNOVATIVE BOARDS of directors among S&P 500 companies. |
Wynn Resorts is the only hospitality company on the list, receiving high scores on gender equality, tenure of independent directors, board size and board independence. |
Wynn Resorts has been recognized by Travel + Leisure as a GLOBAL VISION AWARD 2022 WINNER. |
The award spotlights international companies, individuals, destinations, and organizations taking strides to develop more sustainable and responsible travel products, practices, and experiences. |
N H A R B O R M A S S A C H U S E T T S , U . |
I N D E V E L O P M E N T W Y N N R A S A L K H A I M A H , U . |
O R E L A S V E G A S N E VA D A , U . |
Our Core Behaviors Care about everyone and everything SERVICE DRIVEN We provide the highest quality of service to everyone and everything, including our guests, our coworkers, and our community. |
PROGRESSIVE We always look to the future, continuing to innovate and elevate the experiences we provide to our guests, our employees, and our community. |
ARTISTRY We look at every detail of our jobs as a blank canvas awaiting our creativity and magic. |
Whether setting a guest room or setting food on a plate, we find a way to make it artful. |
Wynn and Encore Las Vegas feature two luxury hotel towers with a total of casino space, 32 food and beverage outlets, approximately 513,000 square feet of meeting and convention space, approximately 155,000 square feet of retail space (the majority of which is owned and operated under a joint venture of which the Compa... |
O F C O N T E N T S Encore Boston Harbor On June integrated resort in Everett, Massachusetts, adjacent to Boston along the Mystic River. |
The property features a luxury hotel tower with a total of of casino space, 15 food and beverage outlets, approximately 71,000 square feet of meeting and convention space, and approximately 10,000 square feet of retail space. |
Public attractions include a waterfront park, f loral displays, and water shuttle service to downtown Boston. |
O F C O N T E N T S Wynn Macau features two luxury hotel towers with a total of 252,000 square feet of casino space, 12 food and beverage outlets, approximately 31,000 square feet of meeting and convention space, approximately 59,000 square feet of retail space, a rotunda show, and recreation and leisure facilities. |
O F C O N T E N T S Wynn Palace, which opened in August villas, approximately 424,000 square feet of casino space, 14 food and beverage outlets, approximately 37,000 square feet of meeting and convention space, approximately 107,000 square feet of retail space, public attractions including a performance lake and f lora... |
O V E R N A N C E R E P O R T T O P W O R K P L A C E S N E V A D A 2 0 2 1 Wynn Resorts was recognized as one of the best employers in Nevada on the Top Workplaces Nevada 2021 list by the Las Vegas Review-Journal and Business Press, with Wynn Las Vegas ranking as the best resort on the Las Vegas Strip. |
I E S Fortune Magazine’s recognized Wynn Resorts for the 13th time, with Wynn Resorts ranking f irst overall in quality of products and services in the hotel, casino, and resort category. |
I G H T The as one of the 50 most community-minded companies in America for donating more than $23 million in funds and in-kind donations, which included $4.75 million in direct COVID-19 relief efforts, nearly $1 million in food and meals, and more than 2.5 million pieces of personal protective equipment. |
I T Y Forbes Magazine’s Wynn Resorts for its diverse board and executive ranks, as well as its proactive employee diversity and inclusion initiatives. |
R O F T H E Y E A R Wynn Resorts received the Global Gaming Awards Operator Of The Year, the most prestigious and trusted awards within the gaming industry, which recognizes innovation, leadership, and performance strength across the previous 12 months. |
We are unique in our ability to invent sustainable solutions that raise standards of sustainable operations in our industry. |
A D D V A L U E Our unwavering commitment to guest service allows us to practice sustainability in ways that enhance the guest experience while making no compromises to Five-Star luxury. |
We don’t believe in being quick, we believe in being immediate. |
We anticipate the needs of our guests and our planet. |
A L E K N O W L E D G E We share our lessons through transparent communication, and we advocate for collaboration to solve global climate issues. 3 2 1 Wynn Resorts’ success does not come from remaining stagnant. |
Progress is part of our nature, and our commitment to sustainability is testament to the evolution of our Company. |
Our approach to sustainability is built on a core principle: care for our guests and our planet. |
This means providing award-winning service at our resorts worldwide, in a manner that respects communities, people, and our environment. |
Our sustainability program focuses on four global pillars that will lead the Company into a responsible future. |
Wynn Resorts announced three aggressive goals in threat of climate change. |
These goals center our core values around our purpose: to benefit the environment, our guests and employees, and the communities in which we live and operate. |
Wynn Resorts is working toward the following three milestones: Our goals and strategy are aligned with the recommendations made by the Intergovernmental Panel on Climate Change (IPCC) for limiting global warming to below Accord. |
Our Corporate Sustainability Goals are continuously informed by new f indings in climate science. |
BY To reduce or offset all carbon dioxide (CO2) produced by our operations no later than 2050. |
To increase Wynn’s supply of renewable energy produced or procured to at least consumption by 2030. |
In power from 23 MW of solar generation capacity in North America. |
$in cash and in-kind donations to charitable organizations in 2021. |
supplied to Encore Boston Harbor is sourced from renewable and green sources of power. |
Wynn Macau gave more than $ USD in donations and sponsorships in 2021. |
Message The responsibilities for Wynn Resorts ESG governance are shaped by decision makers at the highest level of our corporate structure, with oversight by our Board of Directors and Chief Executive Officer. |
The standards and vision established by the Board are maintained throughout the Company by the Executive Vice President and General Counsel with support from the senior executive team. |
Operational execution of the ESG program is led by the Chief Sustainability Officer, who also presents on program progress to the Board’s Audit Committee. |
The General Counsel also oversees the boundaries and protocol of our corporate policies and procedures, through the Compliance and Legal teams. |
Our approach to governance implements ESG strategies that drive long-term corporate value in ways that are responsible, accountable, and transparent. |
With global portfolio, Wynn Resorts holds the most Five-Star awards of any independent hotel company in the world. |
For our team of professionals, providing excellent service to our guests is more than a career; it’s a calling. |
Through effective leadership, the Wynn Resorts Board and Executive team take seriously their duty to protect and enhance our remarkable corporate culture and employee proprietor mindset, as we aim to push the entire hospitality industry to new heights. |
We evolve our Company’s legacy of progress by continually enhancing our operational structures, processes, and controls to support and promote ethical behavior across every sector of our business. |
Over the past several years, the Wynn Resorts Board and Executive team have been reinvigorated with a new composition of industry experience and leadership skills that better reflect the progressive and forward-focused direction our Company is headed. |
We have also strengthened our proactive engagement with shareholders to gain valuable insight and new perspectives, enabling us to be more responsive to their needs. |
This ability to adapt to larger change within our industry, and in many cases to larger change that is reflective of our society, is a uniquely f lexible tenet of our culture, especially for an enterprise of our considerable size. |
We can do this because we are deeply rooted in our core values and principles, while allowing for timely interpretations of their meaning. |
With clear, ESG-centric values as our guide, we continue to make signif icant strides on our path to f it-for-purpose governance in ways that are responsible, accountable, and transparent. |
In makes Wynn Resorts the world leader in luxury—our unwavering commitment to excellence—is the same quality that will keep us positioned at the forefront of the global hospitality industry for decades to come. |
In this section, we detail the policies and structure that govern our ESG program in North America. |
For information on the governance structure that supports our operations in Macau, please visit the Wynn Macau Limited Sustainability Report here. |
O V E R N A N C E R E P O R T Our Nominating and Corporate Governance Committee is committed to maintaining a Board of Directors (“Board”) with a broad spectrum of experience and expertise that will promote the presentation and consideration of different points of view, meet the Company’s evolving needs and strengthen ... |
In Corporate Governance Committee reinforced the Board’s commitment to diversity of experiences and perspectives among its members. |
The Nominating and Corporate Governance Committee amended the Company’s Corporate Governance Guidelines to adopt a policy that requires diverse candidates be included in the pool when recruiting, and have any search f irm that it engages to include candidates with a diverse (race, gender, and ethnicity) background when... |
At that time, the Nominating and Corporate Governance Committee had also established a goal of achieving diversity among Board members. |
These considerations have been important factors in recent additions to the Board, including the appointment of Mr. Darnell Strom to the Board. |
Our independent board is diverse, with four female directors and one racially diverse director. |
Compared with for the S&P 500 *All f igures are accurate as of the day of the 2022 Annual Meeting. |
(2) All of our non-executive Board members qualify as “independent” under NASDAQ listing rules. |
(3) Our CEO’s compensation is established and reviewed by the Compensation Committee, all of whose members are independent. |
The Compensation Committee engages an independent third party to evaluate the level of the compensation provided to our NEOs. |
This evaluation was last completed in by Radford as described in the “Compensation Discussion and Analysis”. |
(10b5-1 plan for transactions related to our securities. |
The Board’s goals are to build value for the Company’s shareholders and to promote the vitality and sustainability of the Company for its customers, employees, and jurisdictions in which it does business, our planet, and the other individuals and organizations that depend on the Company. |
To achieve these goals, the Board monitors the performance of the Company (in relation to its goals, strategy, risks and competitors); reviews the Company’s compliance efforts; and, through the Compensation Committee, evaluates and addresses the performance of management, including the Chief Executive Officer. |
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