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Post date: April 11, 20,24, 01h02h
Updated: 11 April 2024 02:53h
Three casino companies are being forced by opponents of indoor smoking to review their business models and determine the impact of eliminating it.
Recently, the Michigan-based healthcare provider Trinity Health (formerly Michigan Health System) and Americans Nonsmokers’ Rights Foundation(ANRF) submitted shareholder proposals at Caesars Entertainment. Bally’s CorporationBoyd Gaming and. In the submissions, each company is asked to study the economic implications of smoking-free casinos at their properties.
Three casino companies have continued to permit smoking in their casinos where indoor tobacco is allowed by state law. Indiana, Iowa Kansas Louisiana Maine Michigan Mississippi Missouri Nevada New Jersey Pennsylvania Rhode Island Virginia West Virginia West Virginia West Virginia West Virginia West Virginia West Virginia West Virginia West Virginia West Virginia West Virginia West Virginia West Virginia West Virginia West Virginia West Virginia Indiana Iowa Kansas Louisiana Maine Michigan Mississippi Missouri Nevada New Jersey New Jersey Pennsylvania Rhode Island Virginia West Virginia West Virginia West Virginia
Bally’s has nine smoking casinos in seven different states. Caesars Boyd Gaming operates 25 casinos with indoor smoking in eight different states.
Shareholder Proposals
Trinity Health and Americans Nonsmokers’ Rights are asking each company to investigate — and possibly realize — that excluding indoor smoking is actually good for business. In the proposal, ANRF cites an independent study commissioned that found that in 2021, a majority preferred smoke-free gambling establishments.
According to the shareholder proposal presented to Boyd Gaming, there were potential risks of allowing indoor smoke in Boyd Gaming property. This included higher employee health insurance rates (when compared to casinos that do not permit indoor smoke), more maintenance costs, as well as a large number of visitors refusing to visit the casino due to exposure to tobacco smoke. (87% percent of the American population does not smoke),
In the document, it was stated: “Shareholders are unaware of the financial costs that our Company bears by continuing to permit indoor smoking. Furthermore, the Company has not disclosed any social or environmental risks to their stakeholders.” Shareholders ask the Board of Directors to commission and publish a report on potential savings by adopting a smoke-free policies for Boyd Gaming Properties.
Boards of three publicly-traded companies recommended that shareholders vote against the proposals to launch a review on smoking’s impact on the business.
Boyd’s annual meeting for 2024 will be held on May 9, 2019. Bally’s is holding its 2024 annual meeting in May. Caesars Casino has yet to schedule its annual event.
Odds long
It is unlikely that the shareholders will accept any of these three proposals. Only 8% out of 682 shareholder submissions made by Russell 3000 firms between January and may 2023 received majority support.
New Jersey Governor Phil Murphy (D), who is a Democrat, supports the idea of banning casino smoking. This week, he reiterated his position by saying that if a similar bill were to arrive at his desk, he would sign it.
The governor was asked on Wednesday’s radio program whether he could be proactive by asking the legislature for a smoking-ban measure. He said that it is not possible. Complex topic.
Murphy argued that there are valid concerns regarding the viability of Atlantic City’s commercial sector. He urged state legislators to collaborate with both the gambling industry and anti-smoking groups. Finding a Resolution.
United Auto Workers The United Association of Table Game Dealers (UAW), which represents the table game dealers at Atlantic City’s casinos, has filed a suit against New Jersey challenging its Smoke-Free Air Act (2006) that permits casinos to set aside 25% of their gambling floor as a smoking area.
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