Colorado is well-known for its vivid landscape of mountains, high plains, forests, mesas, and more. However, it’s also a State with a heart, as MGM Resorts International, operator of BetMGM sportsbook, has repeatedly shown that it can be a company with a great vision in protecting the environment. MGM is one of the 57 companies in the CDP’s double-A rating list.
The Entertainment, gaming, and sports betting operator was just recognized by the CDP (formerly the Carbon Disclosure Project) for its environmental transparency and performance leadership. That means that MGM is ahead of most other global businesses when it comes to things like climate change and water security.
MGM and Colorado Sports Betting Market
As one of the regulated sportsbooks in Colorado, MGM Resorts’ payments contribute to the revenue that directly goes toward the Colorado Water Plan. The plan receives a major portion of the tax on sports betting pro212fits. It uses those funds to finance numerous long-term conservation efforts and educational initiatives across the state.
Recently, Colorado water projects have been given a great financial boost of $11.4 million expected to be allocated from sports betting taxes. The Colorado Limited Gaming Control Commission is beaming with a commitment to giving most of the disbursements to the state water plan, which isn’t one of their top priorities.
In 2022 alone, this plan received an astounding 43% increase from the previous year in fund distribution; and plans for 2023 include focusing on vibrant communities, robust agriculture, thriving watersheds, and resilient strategies for the whole state. It’s refreshing to see a major part of funds going directly towards such essential plans–especially during these trying times!
Since November 2019 when Proposition DD – also known as ‘The Legalize Sports Betting with Tax Revenue for Water Projects Measure’ – was approved, retail and online sports betting has been steadily growing and MGM Resorts continues to be an important part of its success.
More About CDP A-List
The CDP “A-List” is an exclusive club of companies identified as leaders in combating climate change. To earn a spot on the list, these companies must exemplify excellence in their actions and strategies, while demonstrating positive results in response to climate change.
Each year the requirements become more stringent; however, this ensures that the members of this select group continue to commit to making meaningful advances in sustainability. Those who make it onto the list have not only met high expectations but exceeded them; they are pioneering some of the most successful environmental action plans, leaving an indelible impression on ecological conservation.