Environmental, Social and Governance, referred to as ESG, is not just a C-Suite and Board-level imperative. It is a topic we continue to hear more and more about, impacting all aspects of how companies conduct business. Since my article in Gaming & Leisure Summer 2021 “ESG is Here: Is the Gaming Industry Ready,” ESG has evolved in concept and action.
For many of us, when we think of ESG, we think about two very important issues – sustainability/energy usage and DEI (diversity, equity, and inclusion). And while these areas deal with our physical assets and our employee/people assets, customers are also a key stakeholder for ESG as part of the “social” component. According to the Sustainability Accounting Standards Board (SASB), customers are considered in areas like product safety, selling practices, customer privacy and customer data protection.
How Does The Gaming Industry View Customers?
In gaming, we deal with all the ESG elements described above, even product safety if we consider exposure of customers to smoking inside a casino. And in online gaming, areas like data privacy and security are magnified. In all sub-sectors of gaming, protection of customers through responsible gaming practices has always been important, but it is now a key element of ESG as well, and is even more important in the online gaming context. Responsible gaming is an important factor for the viability of the industry, and with the rapid expansion of online gaming in the United States, it is becoming as critical in some stakeholders’ views as energy savings and emissions reductions are to environmental sustainability. And yet, some still view responsible gaming as a “checkbox” exercise, where the minimum should be required and implemented.
READ THE FULL ARTICLE BY RICK ARPIN IN THE 2022 SUMMER EDITION OF GAMING & LEISURE MAGAZINE.