Gaming’s embrace of sustainability is an ongoing process, Light & Wonder’s Tracy Skenandore says, amid a wider global shift bringing ESG to the fore.
“The gaming industry is starting to realise it needs to be a priority,” she says. “Our customers, being the casinos, are demanding it as well, as they are prioritising it; for that reason we should as well.
This transition has been developing over the past decade, and for the largest companies it’s now a key priority, and a key part of growth strategy, she explains.
Light & Wonder is in a unique position. As Scientific Games, it was a company with decades of industry heritage across lottery and gaming. Three years ago, it divested lottery and sports betting to become a pure gaming business. This reset was “an amazing experience” Skenandore says. “It allowed us to look at what ESG is, what it means to us, to our people, our industry and customers.
“We did significant surveys to establish a new foundation for ESG and the commitments we want to prioritise as a company. That has been embedded in our strategy and our priorities globally.
“We’re still fairly young in our ESG journey, as many of our industry peers are, and because of that we felt we had to establish an internal governance structure. We have such a wide, such a global footprint, so how do we engage our customers in any given market?”
“Gone are the days of greenwashing”
Under an ESG council that reports to the Light & Wonder board, there are established committees for social impact; diversity, equity and inclusion; environmental sustainability; responsible gaming and a supply chain committee.
These developments have been “hugely helpful” she says. “We’re more aligned, can maximise investments, can invest more where we want. It’s really a good model that I highly recommend for any organisation to consider. When you have a broad footprint like we do, without that structure and without establishing those working groups, how do you mobilise?”
It’s not just Skenandore and her team trying to find the answers. “I have no competitors in ESG, I just have partners.”
“There’s a beautiful collaborative space that has been born where peers, competitors and customers are coming together and going on this ESG journey as one,” she says. “Sure, we have our own company priorities, but it’s been amazing to see in the last couple of years how open the companies are to collaborating, to have double the impact.
Light & Wonder investors taking interest
And the interest from investors is growing. Skenandore says Light & Wonder is taking a lot more inquiries from that community.
“I do dozens of phone interviews throughout the year with investors want to know our commitments to ESG, to understand our data and our commitments.
“I welcome those conversations,” she says. “The days of greenwashing, of corporations claiming they are doing all these wonderful things with no proof, that era is behind us. People want proof, and I welcome that – it evens the playing field not just for gaming but any corporation, so we’re all building the same foundation and are all held accountable in how we invest in ESG.”
There are millions of dollars available from ESG investors, but ultimately, it’s the right thing to do Skenandore says. “We firmly believe that, end of story. Investing in social impact, investing in sustainability, investing in responsible gaming, it’s the right thing to do for our people, our company and our customers where we work, live and play.”
“Industry is now prioritising ESG”
To be ranked in FiNTEL Sustain’s top ten companies in gaming, shows how the industry is prioritising ESG, she says. “It really is a testament to gaming suppliers, operators, whichever side of the industry you are in, it’s a new day. We all should be prioritising ESG.
“It’s a testament to the work we’ve put in to really drive ESG, drive awareness within the organisation, within our culture, within our investment group and across our customer base as well. It’s such a simple thing if you take a step back – how can you be a driver of each pillar.
“But our journey is just beginning – we firmly believe we have opportunities to drive growth in ESG and we’re committed to it,” she concludes.
Over the next two weeks iGB will be counting down the ten highest ranked companies in FiNTEL Sustain’s Sustainability Plus rating system. Watch FiNTEL Sustain founders Robert Montgomery and Steven Myers share the rationale for creating a gaming-specific rating system in this exclusive interview.
Original article: https://igamingbusiness.com/sustainable-gambling/fintel-sustain-sustainability-plus-light-wonder/
