A leading solution provider to the iGaming industry, International Game Technology (IGT), has been awarded the gold medal rating from the leading sustainability ratings provider EcoVadis. The recognition follows the EcoVadis assessment of the level of sustainability of global companies and their operating practices to position the IGT among the top five percent of companies with the gold medal rating.

Sustainability Assessment

The sustainability assessment of the renowned rating provider indicated that the IGT exercised a particularly distinctive performance in the areas of environment, ethics, and procurement to boost its overall ratings and include the company in the leading group of sustainable companies.

Rating Criteria

The sustainability performance assessment was conducted under the EcoVadiscriteria focused on the categories of environment, labor and human rights, ethics and sustainable procurement. The assessment was based on 21 benchmark distributed across the above categories to report the IGT performance in terms of sustainable practices representing the pillars of the company’s strategic operations. In assessing the IGT sustainability level, EcoVadis used these sustainability standards to evaluate environmental, social and ethical performance across more than 85,000 companies around the world.

Testimony of Commitment

The gold medal rating awarded to IGT represents another testimony of the iGaming provider’s commitment to sustainability of its operations. The recognition brings IGT in the group of reputable companies proven to operate in compliance with international norms and regulations to ensure legal adherence at all times. At the same time, the gold metal rating is the confirmation that IGT’s operations are in lieu with its internal corporate culture ensuring that the satisfaction and loyalty of its employees continue to drive the company forward.

Commenting on the prestigious rating, Wendy Montgomery, IGT SVP Marketing, Communications and Sustainability said: “Receiving a gold medal from EcoVadis validates IGT’s long-time commitment to continuously improving our ESG results and the effectiveness of our Sustainable Play initiatives. IGT will leverage the gold medal honor from EcoVadis as inspiration for enhanced sustainability innovation and performance, as we help contribute to a more sustainable future for our business and stakeholders.”

Gold Medal Rating Meeting International Standards

Business sustainability ratings used by EcoVadis in assessing global companies are based on international sustainability standards such as the Ten Principles of the UN Global Company, the International Labor Organisation conventions, the Global Reporting Initiative standards, and the ISO 26000 standard. The rating entity relies on these norms to produce analysis and reports after sourcing performance figures and data to provide a guide for possible improvement of the operating practices of the company concerned. The highest rating awarded to IGT represents the recognition of the company’s continued commitment to quality and sustainability.

Source: “IGT Earns Gold Medal from Leading Rating Agency EcoVadis”. European Gaming. February 19, 2024.

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As proof of its unwavering devotion to environmental, social, and governance (ESG) excellence, International Game Technology PLC (IGT) proudly announced that the company has achieved the highest possible MSCI ESG rating—AAA.

This stellar score from the global rating agency reflects IGT’s year-over-year progress in managing ESG-related risks and capitalizing on opportunities, positioning the company as a sustainability leader in its sector.

Navigating ESG Terrain – IGT’s Yearly Surge

IGT’s remarkable achievement in securing a AAA rating underscores its proactive approach to ESG considerations. The MSCI ESG Ratings, which evaluate a company’s resilience to long-term ESG risks, place IGT at the forefront of the industry, reflecting the company’s strategic alignment with sustainable practices.

Breaking down the AAA score, the company shines particularly bright in key categories. Governance, product safety and quality, carbon emissions management, and labor practices are standout areas where IGT has garnered high marks. This well-rounded performance underscores IGT’s holistic desire for sustainable practices, from governance excellence to reducing its carbon footprint and ensuring the highest standards in product safety.

MSCI ESG Research, the esteemed global authority on ESG evaluations, employs a meticulous process to assess and rate companies on a AAA-CCC scale relative to their industry peers. IGT’s top-tier rating speaks volumes about its conscientious business practices, with a focus on minimizing risks and capitalizing on opportunities in a rapidly evolving ESG landscape.

Insights for Investors, MSCI’s Critical Role

MSCI’s ESG Ratings offer investors invaluable insights into a company’s ESG-related practices. By providing a comprehensive analysis of thousands of companies globally, MSCI equips institutional investors with the tools to make informed decisions, identifying both risks and opportunities that might escape conventional investment research.

As IGT proudly displays its AAA ESG Rating, the company stands as a beacon of sustainable excellence in the gaming industry, reinforcing its loyalty to responsible business practices and resilience in the face of evolving ESG dynamics.

Wendy Montgomery, IGT SVP, Marketing, Communications and Sustainability said: “IGT achieving the MSCI AAA ESG rating demonstrates our strong commitment to enhancing our company-wide sustainability results through our ongoing Sustainable Play initiatives. Sustainability is embedded throughout our daily operations as we focus on creating long-term value for our key stakeholders.”

Source: ”IGT Achieves Highest-Possible MSCI ESG Rating of AAA”. European Gaming. January 26, 2024.

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Mohegan’s South Korean venture, the Mohegan INSPIRE Entertainment Resort, has been given a prestigious five-star hotel rating. The rating follows a comprehensive assessment of the property by the Korea Tourism Association’s Korean Hotel Rating System.

The five-star rating reflects the excellence of the hotel and its facilities and attests to Mohegan’s commitment to best-in-class hospitality experiences.

The hotel is built on the beautiful Yeongjong Island in Incheon and is designed to mirror its surroundings’ beauty. The complex boasts three distinctively themed towers, namely the Forest Tower, Sun Tower and Ocean Tower. The resort has some 1,275 rooms, ranging from deluxe accommodations to extravagant villa suites. Visitors can also enjoy a variety of guest lounges, spa services, a fitness center and an indoor pool.

In addition to allowing its customers to truly relax, Mohegan Inspire also offers a variety of restaurants and bars, such as Minagi, Hong Pan, Brasserie 1783, Garden Farm Café, Chef’s Kitchen, Aurora Bar and Horizon Lounge, as well as the first Eurasian Michael Jordan Steak House and MJ23 Sports Bar & Grill.

Mohegan Wants to Provide Guests with Unparalleled Experiences

Ray Pineault, Mohegan’s chief executive officer, commented on the five-star rating, calling it a testament to his team’s “relentless pursuit of excellence.”

This milestone reflects our team’s dedication to upholding the highest standards in the industry, and it reinforces our position as a leader in global entertainment and hospitality.

Ray Pineault, CEO, Mohegan

Mohegan INSPIRE’s president, Chen Si, also commented on the matter, saying that he is delighted that the property’s hotel facility has achieved this prestigious rating. He thanked his team for making this possible and working hard across all areas, including facility, hospitality and operations management.

What incredible momentum going into this first quarter celebrating the casino’s grand opening – that’s how Mohegan continually sets the standard for integrated resorts that create unforgettable experiences.

Chen Si, president, Mohegan INSPIRE

Mohegan INSPIRE is set to launch its comprehensive Phase 1A facilities by the middle of the year. The INSPIRE Mall will open in early 2024, providing visitors with a dynamic cultural hub. In the spring, INSPIRE is also set to introduce an outdoor experiential space.

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ISS ESG, a sustainability rating agency, has updated NOVOMATIC’s sustainability rating to C, marking it as one of the best companies within the electronics industry.

ISS ESG, which is one of the best sustainability experts along with Sustainalytics and Moody’s ESG Solutions, assessed Novomatic’s business, examining its environmental, economic and social performance. As usual, ISS ESG formed its rating based on approximately 100 industry-specific markers.

In October, ISS ESG upgraded NOVOMATIC’s rating to C. This places NOVOMATIC among the top 30% of electronics companies, aligning it with the likes of Apple, Dell and Hewlett-Packard.

NOVOMATIC reported that its business made significant headways in a number of areas, including the following:

• Employees and suppliers
• Society and product responsibility
• Corporate governance and business ethics 

Sustainability Means a Lot to NOVOMATIC

NOVOMATIC addressed the matter, saying that ESG is an integral part of its corporate strategy. The company noted that it remains bullish on making continuous improvements as part of its comprehensive sustainability program.

NOVOMATIC board member Ryszard Presch echoed this sentiment, saying:

As an international gaming technology group, we have always assumed social responsibility and act conscientiously and transparently in all areas of our business.

Ryszard Presch, board member, NOVOMATIC

Johannes Gratzl, another board member, thanked ISS ESG for its recognition. He praised the top rating, highlighting its importance to the company.

With this rating, we have made a great leap forward, and our level of transparency is now at the highest level. We are also well above the industry average when it comes to the core issue of working conditions and standards.

Johannes Gratzl, board member, NOVOMATIC

This is not the first time NOVOMATIC’s sustainability efforts have been recognized. Previously, NOVOMATIC emerged as the industry winner of PwC’s ESG Ranking 2023.

In September, NOVOMATIC published its H1 results, reporting strong growth across multiple metrics. The company’s EBITDA increased in all markets where it operates, highlighting the strength of its business.

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The Investors Service of the credit rating agency Moody’s has upgraded the credit rating of Melco Resorts & Entertainment, a major Asian casino company. Previously negative, the company’s rating has now been updated to Ba3, signifying its improving stability.

The update comes in the wake of the publishing of the quarterly results of Melco’s City of Dreams operator brand. The Q3 results of City of Dreams were positively impacted by the favorable conditions in the special administrative region of Macau, which continues to recover from the pandemic.

The recovery of the local market also meant an uptake in business. An uptake in the VIP segment suggests that its GGR may return to 36% of the 2019 level by 2024. The current tailwind is exactly what led Moody’s to improve Melco’s rating, Gloria Tsuen, a Moody’s vice president and senior credit officer, confirmed.

According to Tsuen, Melco’s financial leverage should improve “significantly” over the upcoming 12-18 months.

Melco Needs to Work Harder to Reach Investment-Grade Rating

Despite its favorable outlook, Melco is yet to fully recover from the effects of the pandemic and China’s Zero-COVID policy. 2022 saw the company lose a whopping $100 million and face significant business and financial challenges. However, the company is optimistic that 2023 and 2024 will be where it turns things around.

The Asian casino giant expects EBITDA to increase to $900 by the end of the current year and to $1.4 million in 2024.

Tsuen added that a factor her team considered when improving Melco’s rating was its $1.2 billion in cash, which the company can use to address its liabilities. In addition, Tsuen pointed out to Melco’s impressive Macau portfolio which poises the company for quick recovery.

However, Melco will need to demonstrate better results if its rating is to be improved further. Going beyond the serviceable Ba3 result and reaching investment-grade will be a matter of bolstering the company’s EBITDA to at least 4.5x-5x.

However, the reverse is also possible, Moody’s warned, noting that Melco’s rating might be lowered if its adjusted EBITDA returns to 5.5x-6x or if the company’s liquidity weakens. These theoretical factors could potentially impede the company’s recovery and make it unable to reduce debt.

Moody’s isn’t the only agency that trusts in Melco’s ability to recover. Earlier this year, Credit Suisse raised the rating of Melco Resorts to buy, because of a variety of positive catalysts. The better-than-expected recovery in Macau was also Credit Suisse’s reason to improve Melco’s outlook.  

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