About the Company
Key Performance Indicator (KPI) Ratings
Key Performance Indicators (KPIs) are vital metrics used by Bally’s Corporation to assess and evaluate the company’s performance across various areas. These indicators provide insights into the company’s financial health, operational efficiency, and strategic progress. Some key KPIs used by Bally’s Corporation include:
Environmental Impact
In this section, we delve into the company’s efforts towards environmental sustainability and its initiatives to reduce its carbon footprint. For a detailed overview of Bally’s environmental strategies, you can also visit ESG Environment page.
Environmental Performance
- Emissions Reduction: Bally’s continues its commitment to reducing emissions, showcasing a successful track record of reducing its carbon footprint. Since 2011, the company has achieved an average reduction of 2,327 tons per year at its Twin River property in Rhode Island.
- Lightbulb Conversion: A significant step towards sustainability, Bally’s has converted its lightbulbs to modern, energy-efficient models at multiple properties. At the Twin River location, completed in 2018, this initiative resulted in a substantial carbon reduction of 915 tons per year. Moreover, the company has realized an average yearly savings of $168,505 through this energy-efficient upgrade.
- Fuel Conversion: Bally’s has transitioned from oil and other fuel sources to cleaner and more efficient natural gas sources at various properties. This strategic shift has led to a notable carbon reduction of 1,412 tons per year at the Twin River property. Additionally, the company has achieved an average yearly savings of $950,000 through this environmentally conscious approach.
- Solid Waste Recycling: Demonstrating its commitment to waste reduction, Bally’s has implemented robust solid waste recycling programs across its properties. At the Twin River property alone, the company averages 9.2 tons per month in recycling disposal, contributing to approximately 7.5% of the total waste generated by the casino and hotel.
- Vegetable Oil Recycling: Bally’s upholds its sustainability efforts by recycling vegetable oil used across its properties. This initiative not only avoids disposal costs but also contributes to the production of biofuels, supporting a more environmentally friendly fuel cycle.
Emissions Scope and Supplier
- Scope of Emissions: While specific details on emissions scope are not provided, Bally’s focuses on reducing its overall carbon footprint across its properties. The company actively monitors and manages emissions to achieve sustainable practices.
Targets & Initiatives
- Future Sustainability Targets: Bally’s is committed to setting and achieving future sustainability targets to further reduce its environmental impact. The company aims to continue its efforts in emissions reduction, energy efficiency, waste management, and renewable energy integration.
Social Performance
In this section, we explore the company’s initiatives related to social responsibility, employee engagement, and community involvement. For a comprehensive view of Bally’s social endeavors, you can also visit ESG Social page.
Internal Initiatives
- Employee Engagement: Bally’s Interactive conducted an anonymous internal survey in 2020 to gather valuable feedback on Diversity, Equity, and Inclusion (DEI) within the company. This initiative reflects Bally’s dedication to fostering a diverse and inclusive workplace.
- Gender Equality: With 47% female employees across the organization, Bally’s emphasizes gender equality in its workforce. The company is committed to providing equal opportunities for all employees, regardless of gender.
- Glassdoor Rating: Bally’s maintains a Glassdoor rating of 3.3 out of 5 stars, highlighting a positive sentiment among employees. The rating reflects aspects such as work-life balance, job satisfaction, and company culture.
External Initiatives
- Responsible Gambling Measures: Bally’s prioritizes responsible gambling, evidenced by its comprehensive programs and policies. The company requires all employees to undergo training on responsible gaming, ensuring they are equipped to assist individuals with maintaining responsible gambling habits.
- Community Engagement: Through various community engagement initiatives, Bally’s demonstrates its commitment to giving back to the communities in which it operates. The company supports local non-profit organizations, hosts charitable events, and donates casino space for community use.
- Responsible Marketing: Bally’s upholds responsible marketing practices in its operations. The company ensures that its marketing strategies and materials promote responsible gambling and comply with industry standards. This approach aligns with Bally’s commitment to ethical business practices and customer well-being.
Governance
For any organization, governance forms the backbone of its operations, shaping its transparency, integrity, and regulatory compliance. It encompasses the structures and processes through which companies are directed and controlled. To delve deeper into the governance practices within the iGaming industry, visit Better World Casinos – ESG and Governance.
Governance Framework
Bally’s Interactive upholds robust corporate governance standards, aligning with:
Governmental Performance
- Swedish Code of Corporate Governance: Adherence to Swedish governance norms ensures transparency and accountability in corporate operations.
- Nasdaq Stockholm Regulations: Compliance with Nasdaq Stockholm’s regulations ensures the company meets listing requirements and maintains investor confidence.
- Maltese Companies Act: Following guidelines under the Maltese legal framework provides a solid foundation for business operations in Malta.
Code of Conduct
- Ethical Guidelines: Bally’s Interactive’s Code of Conduct outlines the company’s commitment to ethical behavior, regulatory compliance, and legal requirements.
- Compliance: Reports indicate a strong commitment to compliance with UK legislation, especially concerning the Corporate Criminal Offence of Failure to Prevent the Facilitation of Tax Evasion.
Frameworks & Policies
Anti-Corruption Measures
- Zero-Tolerance Policy: Bally’s Interactive maintains a strict zero-tolerance policy against corruption, bribery, and unethical behavior.
- Training Programs: Regular training programs ensure all employees are aware of anti-corruption policies and procedures.
- Whistleblower Protection: Robust whistleblower protection mechanisms encourage employees to report any suspected misconduct without fear of retaliation.
Sustainability Charter
- ESG Strategy: The company’s Environmental, Social, and Governance (ESG) strategy focuses on sustainable business practices.
- Sustainability Audit: Conducted a comprehensive sustainability audit across its operations to identify areas for improvement.
- Goals Alignment: Plans to align efforts with the UN Social Development Goals, focusing on areas such as climate action, responsible consumption, and social equality.
Tax Policies
- Compliance with UK Legislation: Adherence to UK laws on tax evasion prevention, ensuring proper reporting and transparency in tax matters.
- Tax Planning: Responsible tax planning practices to optimize tax obligations while staying within legal and ethical boundaries.
CEO Compensation
CEO Compensation Structure
- Transparency: Bally’s Corporation maintains transparency in its CEO compensation structure.
- Performance-Based: Compensation tied to company performance metrics and shareholder value creation.
- Equity-Based Incentives: Use of equity-based incentives to align CEO interests with long-term shareholder interests.
Corporate Structure
Organizational Structure
- Bally’s Interactive Unit: Reported a 9.7% YoY revenue increase to $606.2 million, indicating growth and market expansion.
- North America Interactive: Despite a loss of $35.5 million, strategic investments in North America Interactive aim for long-term profitability.
- Optimistic Outlook: Excitement surrounds the relaunch of Bally Bet, an online betting platform, and the cost-saving measure of outsourcing the sportsbook platform to Kambi.
Committees
ESG Committee
- Oversight: The dedicated ESG Committee oversees sustainability initiatives and ensures alignment with company goals.
- Stakeholder Engagement: Engages with stakeholders, including investors and community members, to incorporate diverse perspectives into sustainability initiatives.
Committee Composition
| Committee |
Committee Chair |
Committee Members |
| Audit Committee |
Soohyung Kim * |
George T. Papanier, Terrence Downey, Jaymin B. Patel |
| Compensation Committee |
George T. Papanier |
Robeson Reeves, Jeffrey W. Rollins, Wanda Y. Wilson |
| Nominating and Governance Committee |
Terrence Downey |
Tracy Harris |
| Compliance Committee |
Jaymin B. Patel |
– |
| ESG Committee |
Robeson Reeves |
– |
Financials
Q2 Financial Performance
- Revenue Increase: Bally’s Corporation reported a 9.7% YoY revenue increase to $606.2 million, driven by strong performance in key markets.
- Unit Performance: North America Interactive unit generated $25.3 million in revenue, with strategic investments in growth areas despite short-term losses.
- Strategic Initiatives: The relaunch of Bally Bet and the outsourcing of the sportsbook platform to Kambi represent strategic moves aimed at long-term profitability and efficiency.
These details illustrate Bally’s Corporation’s comprehensive approach to governance, sustainability, tax compliance, CEO compensation, corporate structure, committee oversight, and financial performance.
UN Sustainable Development Goals (SDGs)
Bally’s Interactive is committed to contributing to several United Nations Sustainable Development Goals (SDGs), aligning its business practices with global sustainability objectives:
1. Goal 3: Good Health and Well-being
Bally’s Interactive promotes good health and well-being among its customers through responsible gambling initiatives and reliable metrics. By providing a safe and secure gambling environment, the company prioritizes the well-being of its patrons.
2. Goal 4: Quality Education
The company supports Goal 4 by fostering diversity and inclusion within its workforce. Bally’s Interactive recognizes the value of a multicultural team and actively promotes a diverse and inclusive work environment across all its locations.
3. Goal 5: Gender Equality
Bally’s Interactive is committed to achieving gender equality, aiming for a 50:50 gender balance in its leadership positions. The company believes in creating equal opportunities for all employees, regardless of gender, to contribute to a more equitable workplace.
4. Goal 8: Decent Work and Economic Growth
Through its initiatives, Bally’s Interactive contributes to decent work and economic growth. The company prioritizes creating a positive work environment where employees feel valued and supported, leading to personal and professional growth.
5. Goal 10: Reduced Inequality
Bally’s Interactive’s commitment to diversity and inclusion helps in reducing inequality within the organization. By providing equal opportunities and fostering an inclusive culture, the company aims to create a more equitable workplace for all employees.
6. Goal 12: Responsible Consumption and Production
The company’s climate targets, waste reduction efforts, and carbon offsetting initiatives align with Goal 12. Bally’s Interactive is dedicated to responsible consumption and production practices, aiming to minimize its environmental footprint.
7. Goal 13: Climate Action
Bally’s Interactive takes significant steps towards addressing climate change through ambitious climate targets, reduced emissions, and carbon offsetting efforts. The company recognizes the urgency of climate action and actively works towards reducing its environmental impact.
8. Goal 17: Partnerships for the Goals
Engagement in partnerships with various organizations demonstrates Bally’s Interactive’s commitment to Goal 17. By collaborating with stakeholders, the company seeks to achieve sustainable development goals collectively. Through these partnerships, Bally’s Interactive leverages expertise and resources to drive positive change and contribute to a sustainable future.
Conclusion
Overall Summary and Verdict
Bally’s Corporation, a significant player in the gaming industry, demonstrates a commendable commitment to corporate governance, sustainability, and innovation. The company’s adherence to established frameworks such as the Swedish Code of Corporate Governance and Nasdaq Stockholm regulations showcases a dedication to transparency and accountability. With a robust ESG strategy, Bally’s aligns its sustainability efforts with industry standards and global goals.
While facing challenges like regulatory fines for underage gambling and ongoing evaluations of its businesses for profitability, Bally’s shows promise with strategic investments and initiatives for long-term profitability. The company’s success at the Women in Gaming (WiG) Diversity Awards and recognition for its iGaming Platform highlight its commitment to diversity, innovation, and providing cutting-edge solutions.
Answering Initial Questions
Transparency
Score: 4
- Description: Bally’s Interactive demonstrates commendable transparency through its sustainability reporting and governance practices.
- Strengths: ESG/Sustainability report, adherence to governance norms, and disclosure of environmental initiatives.
- Areas for Improvement: More details on waste and water management could enhance transparency.
ESG Strategy
Score: 4
- Description: Bally’s Interactive has a robust ESG strategy evident in its ambitious climate targets, responsible gambling initiatives, and commitment to diversity and inclusion.
- Strengths: Initiatives align with global sustainability goals and demonstrate a proactive approach to corporate responsibility.
- Areas for Improvement: Adopting recognized reporting standards like GRI could enhance accountability and comparability.
Sanctions, Controversies, and Concerns
Score: 2
- Description: Bally’s Interactive has faced challenges, including sanctions and warning fees from regulatory authorities.
- Strengths: Addressing regulatory challenges is crucial for maintaining trust.
- Areas for Improvement: Effective resolution of these issues is necessary for improving the score in this category.
3rd Party Ratings
Score: 3
- Description: Positive Glassdoor ratings and awards reflect favorable aspects of the company’s social performance.
- Strengths: Positive perception among employees and stakeholders.
- Areas for Improvement: Continuous enhancement of public ratings and receiving more awards could further improve this score.
Verdict & Scorecard
Final Score: 3.5 Rounded to 4(Good – Nice choice! Go have fun!)
Strengths:
- Transparency: Bally’s Interactive’s extensive reporting practices provide detailed insights into its sustainability efforts.
- ESG Strategy: The company’s well-defined ESG strategy, including initiatives like responsible gambling, showcases a commitment to corporate responsibility.
- Public Ratings: Positive ratings and awards validate Bally’s efforts, reflecting a favorable perception among stakeholders.
Areas for Improvement:
- Sanctions and Compliance: Continued focus on compliance and ethical practices to avoid future sanctions.
- ESG Strategy: Ongoing monitoring and updating of sustainability targets to ensure progress towards climate goals.
- Public Reputation: Seeking further awards and recognitions could enhance public perception.
Bally’s Corporation is on the right path toward sustainable and responsible gaming practices. Continued efforts in compliance, transparency enhancement, and maintaining a robust ESG strategy will further solidify its position as a leader in the industry.
Note: This scorecard is based on the BWC rating system, providing an assessment of Bally’s Interactive’s sustainability performance across transparency, ESG strategy, sanctions, controversies, and public ratings. It offers a snapshot view for stakeholders and investors, highlighting the company’s strengths and areas for improvement.
Disclaimer data: This review is based on publicly available information, and future reviews may incorporate deeper analyses and interviews with company representatives.
Source Material: Refer to the provided hyperlinks for detailed sources.
