"Success is not a place one arrives, but rather the spirit with which one undertakes and continues the journey."
When MGM Resorts International launched our Diversity & Inclusion Initiative in 2000, we committed to working with minority-, women- and disadvantaged-business enterprises (MWDBE). Our Company was challenged to identify companies that could provide the desired high-quality products, superior service and competitive prices.
In May 2000, MGM Resorts International hosted our first Diversity Supplier Expo to communicate our commitment and identify potential suppliers. Next, we created a full-time professional position to promote minority sourcing and launched a Web site, www.mgmresortsdiversity.com, enabling suppliers to register, view and respond to bid solicitations online. This tool created an internal database enabling our buyers to gain quick and easy access to registered MWDBE suppliers.
In 2003, we adopted a formal policy requiring minority and women diverse business owner bid participation in all contracts and purchases exceeding $1,000. Minority and women owned firms seeking contracts with MGM Resorts International are required to be certified by a partner organization such as the National Minority Supplier Development Council. During this period, we became the first gaming company to report our diversity spending, a process that we are continually enhancing through the creation of new tracking mechanisms.
To further develop the Supplier Diversity Program, we created a Purchasing Diversity Committee comprised of purchasing directors and buyers companywide. The group meets monthly to share ideas and best practices.
MGM Resorts International participates in numerous trade shows to communicate our Supplier Diversity Program and identify potential suppliers. We are active participants in organizations such as the United States Hispanic Chamber of Commerce's Procurement Council and the American Gaming Association's Purchasing Subcommittee.
MGM Resorts International joined with the American Gaming Association in announcing a Tier II Reporting program whereby the top 25 gaming industry suppliers are required to report quarterly on all their expenditures to MWDBE goods and service providers.
In 2011, we expanded our Supplier Diversity Program classifications to formally include Veterans, Service-Disabled Veterans, Disabled Persons and LGBT business owners.
MGM Resorts International continues to host forums where vendors and contractors participate in workshops, panel discussions and one-on-one dialogue with our Company's senior leaders, procurement and construction teams.
Since the program's inception, over $1 billion has been spent with MWDBE suppliers. Because of this program, many MWDBEs have far exceeded their own expectations, and we have developed a steady and capable portfolio of qualified suppliers and vendors to support our needs. Our future goal is to increase the level of diverse segment participation in all aspects of our business.