MGM Named Top Best Employers in the World by Forbes

MGM Resorts recently made it to Forbes’ 4th annual list of the world’s best employers. This list was curated by Forbes in partnership with market research firm Statista. The firm surveyed more than 160,000 full-time and part-time workers across 58 countries employed by businesses with operations in several nations or regions.

The final list was comprised of 750 multinational and large corporations headquartered in 45 countries across the world. Aside from MGM, other US companies that made it to the list in the Travel & Leisure category consist of Marriott International, which was ranked 28th, Royal Caribbean Cruises ranked 134th, Hyatt Hotels which were ranked 170th, and Intercontinental Hotel Group ranked position 219.

The surveys conducted were completely anonymous, thus allowing the participants to share their opinions freely and without influence. The surveys were conducted between June and July. Employees were tasked with the job of answering a series of questions including rating their employers’ responses to the outbreak.

Employees were also tasked with scoring their employers based on their image, willingness to develop employee talents, CSR work, economic footprint in society, as well as gender equality in their organizations.

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MGM’s chief sustainability officer had this to say about this prestigious honor, “We are honored to receive this prestigious ranking from Forbes. We have the most talented, resilient, and skilled employees in our industry and this recognition is a testament to their dedication and commitment to guest service, to caring for one another, and for our company. This news marks a moment of great pride for the people of MGM.”

 

MGM Resorts has been through some challenges

MGM Resorts has suffered some setbacks in the last couple of months so this award couldn’t be more well-received. Just recently, the casino operator was forced to lay off 18,000 of its employees in the country thanks to the pandemic-induced travel curb that’s hurt almost all businesses in the travel and hospitality sector.

Like most casinos and resorts, MGM was forced to shut down all its casino operations owing to the outbreak, which led to the furloughing of 62, 000 staff members. Although thousands more were brought back after operations resumed, it still had to lay off more staff members to keep its head above water.

 

Things have been looking up for MGM Resorts

In the list comprising 750 World’s Best Employers for 2020, MGM Resorts International managed to secure an impressive 107th ranking. If that’s not impressive enough, it was the only resort in Vegas to make the cut. Year after year, MGM has proven itself a formidable competitor in the heavily saturated Vegas gambling market.

And this isn’t the only great news that the resorts International has received lately. Recently, it was recognized by the Solar Energy Industries Association for its efforts in sustainability. Starting mid-2021 MGM has pledged to rely on solar energy to power its energy needs across its 13 properties in Vegas as we’ve covered here.

MGM Resorts also very recently announced an investor update whereby investors were informed that the brand had completed its offering of senior notes to the tune of $750 million due 2028. Not to mention that BetMGM is thriving more than ever.

BetMGM was created in partnership with GVC Holdings and Roar Digital as we’ve discussed here and has grown in a short space to become one of the most highly sought-after and well-reviewed sports betting brands as we’ve discussed here. Although the sports betting industry is still relatively immature, it has presented a huge potential and opportunity for growth for the gaming operator.

BetMGM’s retail and online options are already live in 8 states and expect to go live in several more states before the year comes to a close. By the end of 2021, the brand hopes to have a presence in all 20 states that enjoy legalized sports betting.

In September, MGM shocked punters when it announced that it would prohibit tobacco smoking on its properties, thus becoming the first casino to ever do so in the gambling sector’s recent history. This measure was rolled out on September 30th, when the resort resumed operations after a month’s long shutdown resulting from the pandemic.

While other competitors seem to shy away from banning smoking in fear that it might turn away much-needed customers, MGM Resorts has chosen to stand out. This reinvention of brand strategy is what has given the casino operator staying power, even through tough times such as these. Since MGM Resorts is one of the biggest employers in the city, hopefully, others will follow suit.

Smokers are still allowed within other MGM properties but the habit has been prohibited at the MGM National Harbor located in Maryland, as well as MGM Springfield in Massachusetts. This change couldn’t have come at a better time when the country is still battling to survive a pandemic, forced lockdowns, layoffs, and one of the biggest economic slumps in recent times.

Although nothing has proven that reduced smoking does indeed reduce one’s chances of contracting the disease, strategic brands such as MGM Resorts always find a way to stay ahead of the curve especially where the safety of its guests, shareholders, and employees are concerned.

The casino operator’s move to make considerable adjustments and changes to its business model will prove beneficial for its financial situation. MGM Resorts has proven its growth within the sports betting market so the future looks bright for this brand.

 

Final Thoughts

Across this comprehensive list, American companies were some of the most well ranked. In total, 247 entities made it to the Forbes List; Europe came second with 224 companies on the list. The best-ranked company, garnering the top coveted position was South Korea’s Samsung.

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