LAS VEGAS, Sept. 6, 2018 /PRNewswire/ -- Caesars Entertainment Corporation (NASDAQ: CZR), the world's most diversified gaming and entertainment company, today announced that the company found no meaningful differences in the average pay of men and women in almost all jobs. Together with Billie Jean King, sports icon and equal rights champion, Caesars Entertainment committed to work to close the gap and achieve 100% parity in pay for men and women.
Caesars reviewed 2016 pay data for approximately 32,200 non-union employees from corporate headquarters and 40 properties. Ninety nine percent of women at the company's corporate headquarters and 98% of women at the company's 40 properties are in jobs with no meaningful differences between the average pay of men and women, after accounting for neutral factors. A follow-up study using 2018 pay data shows that Caesars is already moving toward 100 percent pay equity in all jobs. Union employees were not included in the study because Caesars is obligated to pay unionized workers established compensation rates under the terms set forth in collective bargaining agreements with the union that dictate the wages paid to all union members.
"The numbers from our internal study confirm that Caesars Entertainment is a progressive workplace that values all employees and promotes an open and inclusive culture," said Mark Frissora, President and Chief Executive Officer. "While I'm extremely proud of what we've accomplished, there is still more work to be done, and I remain committed to taking the necessary steps to ensure that we reach 100% pay equity."
"On the 50th anniversary of the 'open era' in tennis when the Grand Slam tournaments first allowed all players the opportunity to make a living by playing tennis, I could not be prouder to be joined at the US Open by corporate leaders from Caesars Entertainment who are committed to creating equal and inclusive workplaces," said Billie Jean King. "As a long-time champion of equal pay for equal work, seeing more companies, like Caesars Entertainment, joining in the movement is strong proof that things are improving and progressing."
The Company has pledged to conduct a review of pay equity on a regular basis. This reflects the Company's greater commitment to ensure equity for all employees and its progress toward the goal to reach 100% pay equity across all levels.
In 2017 Caesars Entertainment partnered with equal rights champion Billie Jean King and her organization, the Billie Jean King Leadership Initiative (BJKLI) to launch the Gender Equity Initiative – a program created to increase representation of women in leadership roles and above at Caesars Entertainment by 2025, and also to enhance equal representation, development, treatment and pay of all employees. Currently, Caesars Entertainment is well on its way to meeting its gender equality goal, with women in the company's U.S. markets holding 43% of manager and above roles at the company.
About Caesars Entertainment
Caesars Entertainment is the world's most diversified casino-entertainment provider and the most geographically diverse U.S. casino-entertainment company. Since its beginning in Reno, Nevada, in 1937, Caesars Entertainment has grown through development of new resorts, expansions and acquisitions and its portfolio of subsidiaries now operate 49 casinos in 13 U.S. states and five countries. Caesars Entertainment and its affiliates operate primarily under the Caesars®, Harrah's® and Horseshoe® brand names. Caesars Entertainment's portfolio also includes the Caesars Entertainment UK family of casinos. Caesars Entertainment is focused on building loyalty and value with its guests through a unique combination of great service, excellent products, unsurpassed distribution, operational excellence and technology leadership. Caesars Entertainment is committed to its employees, suppliers, communities and the environment through its PEOPLE PLANET PLAY framework. For more information, please visit www.caesars.com.
About the Billie Jean King Leadership Initiative
BJKLI is a non-profit endeavor founded in 2014 by social justice pioneer and sports icon Billie Jean King to promote equality and inclusion in the workplace by inspiring future leaders and motivating those in positions of power to challenge the status quo. Members of the Billie Jean King Leadership Initiative Advisory Board include: Billie Jean King, Founder; Ilana Kloss, Co-founder; Paul Keary, Co-founder and COO, Teneo Holdings; Pablo Salame, Global Co-Head, Securities Division, Goldman Sachs; Christiane Amanpour, Chief International Correspondent, CNN; Jason Collins, Former NBA Player and Civil Rights Advocate; David Furnish, Chairman, Elton John AIDS Foundation and CEO, Rocket Entertainment Group; Maritza Gomez-Montiel, Former Vice Chairman and Deputy CEO of Deloitte; Sir Elton John; Jonathan Kraft, President, The Kraft Group; Robert McCann, Chairman, UBS Group Americas; Pat Mitchell, Founder and CEO, POW! Strategies and Executive Producer of TEDWomen; Robin Roberts, Anchor, ABC's Good Morning America; and Michael Strautmanis, VP of Civic Engagement for the Obama Foundation. For more information, please visit www.bjkli.org.
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SOURCE Caesars Entertainment Corporation
Stephen Cohen, 212-886-9332, Stephen.cohen@teneostrategy.com
