Caesars Entertainment (NASDAQ: CZR), the world's most diversified casino-entertainment provider, today announced the creation of The Shared Future Fund, a new and innovative investment model that will be used to create long-term positive change for adult and child victims of human trafficking. The fund will be controlled and managed by ImpactNV, a 501(c)(3) nonprofit in Southern Nevada dedicated to mobilizing cross-sector leadership to address pressing social needs and building a better community.
The Shared Future Fund will be initially resourced by in-kind donations and direct financial support from Caesars Entertainment and an inaugural fundraising event in spring of 2019. The self-sustaining model is designed to catalyze solutions to core regional issues via grants, loans and investments.
"The formation of The Shared Future Fund underscores Caesars Entertainment's belief that every human being deserves an equal opportunity for a bright future and fulfilling life. In our inaugural year, The Shared Future Fund will prioritize solutions centered on human trafficking, which is an issue that particularly affects women and children," said Jan Jones Blackhurst, Executive Vice President of Public Policy and Corporate Responsibility at Caesars Entertainment. "As the first social impact fund for Nevada, we hope that our new venture can be a model for companies and communities collaborating to end systematic inequity."
The Shared Future Fund aims to define a new pathway to achieve philanthropic goals by supporting a holistic, community-centered strategy that emphasizes advocacy and collective impact rather than the traditional approach of contributing financial resources to company-chosen causes. The initial emphasis of the fund will be to provide support for women and children affected by trauma associated with human trafficking, which is an issue that intersects heavily with other crises that rise from social inequity including homelessness and immigration concerns.
"ImpactNV has a proven track record for accelerating and deploying evidence-based solutions that solve for systemic challenges facing Southern Nevada's most vulnerable populations. However, we know change requires collaboration, and are proud to be part of this innovative venture with Caesars Entertainment," said Lauren Boitel, ImpactNV's Executive Director. "With The Shared Future Fund, we believe we can create a safety net for the local community where every person is seen, heard and valued, ultimately building a stronger community for us all."
Caesars Entertainment and ImpactNV identified three intersecting priority areas for The Shared Future Fund, each rooted in the pervasive social and economic inequality that underscores Nevada's most vulnerable populations.
-- Human Trafficking: Human trafficking is one of the most predominant issues in the hospitality industry; Nevada ranks second for highest number of sex trafficking cases per 100,000 residents in the country with more than twice the national average. The Shared Future Fund will develop a strategy to reduce, treat and rehabilitate adult and child victims of sex trafficking.
-- Homelessness: Homelessness is one of the most consistently identifiable causes of inequality. Nevada has the third-highest rate of unsheltered individuals in the nation; more than 300 families with children are homeless every night. The fund will design and develop a plan for long-term impact by 2020.
-- Immigrant Integration: Immigrants make up 20 percent of Nevada's population and a quarter of its workforce. More than 100,000 U.S. citizens in Nevada live with at least one family member who is undocumented. The Shared Future Fund will develop an approach to provide new Nevadans with pathways to crucial community connection, education, employment, language access, naturalization and healthcare.
In addition to The Shared Future Fund, Caesars Entertainment is launching an Economic Equity Tour. The six-stop tour will visit communities where affiliates of Caesars Entertainment operate and will focus on financial literacy, workforce development, entrepreneurship and potential business opportunities for diverse suppliers. Caesars is also advancing its Gender Equity Initiative, which aims to reach an equal representation of women and men in leadership by 2025.
About Caesars Entertainment Corporation 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's resorts operate primarily under the Caesars(R), Harrah's(R) and Horseshoe(R) 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 ImpactNVImpactNV is a 501c3 nonprofit founded in 2008 through public and private partnership that brings leaders together to address our most pressing needs in order to build a better community. ImpactNV focuses on Triple Bottom Line community development by catalyzing systems level change via impactful projects and programming such as hosting Nevada's only comprehensive sustainability summit, ConveneNV and annually publishing Nevada's State of Sustainability Report. For more information, please visit impact-nv.org.
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