Robert Montgomery and Steven Myers have proposed a new approach to sustainability in the gaming industry. They aim to release their first industry rankings of FiNTEL Sustain soon and have shared the key lessons from the process exclusively with iGB. They believe that sustainability offers a unique opportunity for the gaming industry to improve its reputation and increase benefits from competing in regulated markets and transparent reporting procedures. They also assert that gaming has the potential to respond to greenwashing issues and regulatory inadequacies, similar to other industries that have embraced sustainability.
Montgomery and Myers point to the alcohol industry as an example of a sector that has successfully embraced sustainability to its benefit. They argue that gaming can take steps to address responsible gambling head-on and attract investors, analysts, and shareholders by embracing applicable United Nations Sustainable Development Goals. They note that their initiative, FiNTEL Sustain, rated and ranked twenty of gaming’s largest public companies in Europe and the US using a framework outlined in a white paper published in June 2023.
The duo emphasizes the need for gaming-specific sustainability metrics and the incorporation of operational and financial performance measures to create a valuable dataset. Their ratings framework includes measures tailored to the regulated gaming industry and incorporates 11 distinct data sets with a bias for complete transparency. They also found that regulated operators with a significant land-based footprint ranked highest, despite increased exposure to environmental factors that may have pushed down ratings. The findings have shown that Land-based outperforms igaming in the rankings, with companies with a large land-based component appearing to have a more structured and conscientious approach to reporting compared to their igaming-led counterparts.
Their review of the twenty companies revealed reporting weaknesses, inconsistencies, and variances in what they focused on. Montgomery and Myers argue that a unified approach to gaming sustainability could benefit all stakeholders, but companies need to provide more detailed and transparent reporting to improve their FiNTEL Sustain rating and sustainability standing.
In conclusion, Montgomery and Myers stress the need for the regulated gaming sector to take sustainability more seriously and approach it in a unified and uniform fashion in order to achieve a better standing and enable its constituent parts to flourish just as other industries have. They believe that embracing sustainability can bring clear financial benefits to all stakeholders.