MGM MIRAGE Among Black Enterprise's "40 Best Companies for Diversity"
LAS VEGAS – June 13, 2006 – MGM MIRAGE has been named one of the “40 Best Companies for Diversity” by Black Enterprise (BE) magazine. This is the second consecutive year that the company has been named to the list.
According to MGM MIRAGE Chairman and CEO Terry Lanni, recognition by Black Enterprise is a significant accomplishment for the company and its 70,000 employees. “It is a great honor to be recognized for our diversity efforts by such a prominent publication. As we progress on this continuous journey, our work in diversity will require dedication, diligence and creativity,” Lanni said.
To select the best companies, BE editors conducted an extensive survey of the top 1,000 publicly traded companies and 50 leading global companies with significant U.S. operations. The survey focused primarily on company activities with participation of African Americans and members of other ethnic minority groups. Companies were evaluated in four key categories: corporate procurement, corporate governance, total workforce diversity and minority representation in senior management. BE editors also evaluated diversity programs and consulted with corporate diversity officers, senior managers, minority suppliers and diversity experts to determine the “40 Best Companies for Diversity.”
“These 40 companies truly understand the value of a diverse workforce and inclusive business practices to the success of their business,” said BE President and CEO Butch Graves. “They are role models in corporate America, and it is our sincere hope that other companies will follow their lead and build businesses that are more reflective of the society in which we live.”
This year BE commended MGM MIRAGE for its strengths in the areas of corporate procurement, corporate governance and minority representation in senior management. Additionally, the company was named to the following BE lists: “10 Best in Supplier Diversity,” “10 Best in Senior Management Diversity” and “10 Best in Board Diversity.”
Since 2001, when MGM MIRAGE launched its supplier diversity program, the company has maintained proactive outreach to identify minority, women and disadvantaged enterprises (MWDBEs) with which to work. Last year, the company spent a total of $95 million in biddable goods and services with MWDBEs, in which over 30 percent was expended with African American-owned enterprises. MGM MIRAGE is the first in the gaming industry to report its diversity spending.
In 2005, MGM MIRAGE’s ethnic minority workforce rose to 56 percent from 54 percent in 2004. Approximately 30 percent of those employees are in management positions. Additionally, the company’s 15-member board of directors includes three African Americans, two of whom are women.
The complete list of the BE ”40 Best Companies for Diversity” will be published in the July 2006 issue available on newsstands June 27.
About MGM MIRAGE:
MGM MIRAGE (NYSE: MGM), one of the world's leading and most respected hotel and gaming companies, owns and operates 23 properties located in Nevada, Mississippi and Michigan, and has investments in three other properties in Nevada, New Jersey and Illinois. MGM MIRAGE has also announced plans to develop Project CityCenter, a multi-billion dollar mixed-use urban development project in the heart of Las Vegas, and has a 50 percent interest in MGM Grand Macau, a hotel-casino resort currently under construction in Macau S.A.R. MGM MIRAGE supports responsible gaming and has implemented the American Gaming Association's Code of Conduct for Responsible Gaming at its properties. MGM MIRAGE also has been the recipient of numerous awards and recognitions for its industry-leading Diversity Initiative and its community philanthropy programs. For more information about MGM MIRAGE, please visit the company's website at www.mgmmirage.com.
About Black Enterprise:
Black Enterprise, your ultimate guide to financial empowerment, is the premier business and investment resource for African Americans. Since 1970, BE has provided essential business information and advice to professionals, corporate executives, entrepreneurs, and decision makers. The monthly publication provides 3.9 million readers with information on entrepreneurship, careers, and financial management. As the definitive source of information for and about African American business markets and leaders, BE is the authority for business news and trends.
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