If you’re reading this letter, you likely read many ESG reports like ours. Nearly all begin with a letter from the CEO and most recap everything you can read in the report.

Like most everything at Wynn Resorts, we take a different approach. Instead of a cursory recap, I want to lay out the tenets of our ESG program. Of course, these are not the only things that matter to us, but they are the things that underpin all our ESG thinking and activities. We do not change these beliefs based on the current trend. They are items we do not compromise on.

We walk the talk

If you look at our Core Values and Behaviors in our ESG report, you will see that the ideals of caring for people, fair treatment, taking personal responsibility, and driving ongoing improvement are built into who we are. Those values, in turn, influence who we hire, and that makes all the difference in a business like ours. When you have a company populated with those who share the same people-focused values, decision-making is quick, and you land on the ethical and just side of decisions.

People come first

We make decisions based on the best outcomes for people, whether they are our employees, our guests, or our shareholders, not some corporate entity. As an example, when people join our team, we commit to providing them with a career, not merely a job. To further fulfill that promise, we recently increased the scope of our learning and development programs to include a robust leadership development program that immerses up-and-coming leaders in Wynn culture and values. We also created more advanced programs focused on our high-potential mid- and upper-level employees to prepare them to lead us into the future. To accomplish that, we’ve increased our investment in L&D by nearly 75 percent. The resulting increase in higher-performing teams and increased employee retention rates will reap benefits for our shareholders in the not-to-distant future.

Another example: last year, after a period of record inflation, we negotiated an agreement with our labor unions that gave our frontline people record wages and solid, long-term benefits. Our employees know we have their back, they’re at the top of their game, and in turn, Wynn Resorts just delivered a year of best-ever financial results for our shareholders.

We are not performative

We are not interested in looking good, we are interested in doing good. When we tackle tough problems, we go deep and do not concern ourselves with who gets the credit. We did not distribute news releases touting our program to develop new talent from HBCUs, our new CLIMB program to grow internal talent to meet our expansion opportunities, or brag about our leadership to organize a sustainable solution for Las Vegas’ unhoused population. Want to know more about those initiatives? It’s in our ESG report.

We stay true to who we are

We fundamentally believe it is possible to operate responsibly while creating luxury experiences—because offering luxury does not mean being wasteful. Things such as our trash sorting and food waste recycling programs in Las Vegas, our internal water bottling programs in Macau, and our solar energy battery storage program in Boston all help us to be responsible with zero diminishment to the guest experience. We believe they enhance it because Wynn guests know we are doing the right things on their behalf.

Those are the things that matter and make the difference at Wynn Resorts, now and into the future.

Sincerely,

Craig S. Billings
Chief Executive Officer
Wynn Resorts Limited