Casino giant Las Vegas Sands has been named one of Fortune’s “World’s Most Admired Companies” in the news outlet’s 2024 list of the most respected and reputable global businesses, marking the company’s 10th appearance on the ranking.
“Sands’ being included on Fortune’s list is an endorsement of our performance in delivering economic, social, and environmental value to our communities, team members, investors, and customers,” said Patrick Dumont, Sands President and Chief Operating Officer. “Entering 2024 with this recognition demonstrates our ability to successfully navigate change and evolution while remaining focused on the positive impact we strive to deliver.”
After exiting its Las Vegas operations in 2022, Sands has focused on investment in Asia and exploring new businesses and geographies. In 2023, the company reaffirmed its commitment to Macau with Sands China’s pledge to invest $3.75 billion in capital and operating projects through 2032 to support Macau as a global tourism destination.
We have again been named one of the World’s Most Admired Companies in @FortuneMagazine’s annual list of the most respected and reputable businesses. Our 2024 appearance on the globally respected benchmark marks our 10th time being recognized. Read more: https://t.co/LFpBBE6bUY pic.twitter.com/M7VScj3qql
— Sands (@LasVegasSands) February 1, 2024
Sands also is seeking further growth in Singapore with a $1.75 billion reinvestment program currently underway at Marina Bay Sands.
In each of its regions, Sands says it is focused on being “the employer and partner of choice” by keeping its communities strong by making them ideal places to live, work, and visit; and minimizing environmental impact by being a leader in preserving natural resources and incorporating sustainable practices.
“With the goal of achieving measured, ongoing environmental, social, and governance progress in these areas, the company established 2021-2025 ambitions to invest $200 million in workforce development, contribute 150,000 volunteer hours to its communities, and reduce carbon emissions by 17.5% by the end of the period, mapping to its people, communities, and planet corporate responsibility pillars,” the company said.
Marina Bay Sands, Singapore
Under the Communities pillar, the company noted that it surpassed its 150,000 community service hours at the end of 2022 because of extensive support for pandemic-related initiatives, along with core Sands Cares volunteer efforts. The new 2025 target will be announced in Sands’ next ESG report in spring 2024, along with progress toward all three ambitions.
As of 2022 reporting, the company had invested $56 million in workforce development initiatives, bringing its cumulative investment to $113 million since 2021. Carbon emissions reduction was at 50%; however, that figure reflected the continued pandemic-related impact on property visitation and will be updated in the 2023 ESG report.
Sands’ designation on the Fortune World’s Most Admired Companies list follows recent recognition on Newsweek’s 2024 America’s Most Responsible Companies list as well as the 2023 Dow Jones Sustainability World and North America Indices.
Fortune collaborated with its partner Korn Ferry on this survey of corporate reputations, which began with a universe of about 1,500 candidates: the 1,000 largest U.S. companies ranked by revenue, along with non-US companies in Fortune’s Global 500 database that have revenues of $10 billion or more.
The assortment was winnowed to the highest-revenue companies in each industry, a total of 660 in 29 countries. The top-rated companies were picked from that pool of 660; the executives who voted work at the companies in that group.
To determine the best-regarded companies in 52 industries, Korn Ferry asked executives, directors, and analysts to rate enterprises in their own industry on nine criteria, from investment value and quality of management and products to social responsibility and ability to attract talent. A company’s score must rank in the top half of its industry survey to be listed.
Original article: https://www.yogonet.com/international/noticias/2024/02/05/70696-las-vegas-sands-named-in-fortune-39s-world-39s-most-admired-companies-list-for-10th-time
