A groundbreaking approach has surfaced in the ongoing battle to prohibit smoking in casinos: utilizing shareholder votes.
Shareholders of Boyd Gaming, Bally’s Entertainment, and Caesars Entertainment will have the opportunity to vote on proposals aimed at compelling these casino companies to conduct thorough studies on the expenses linked to allowing smoking indoors.
These proposals are being championed by Trinity Health, a non-profit healthcare network, and the Americans for Nonsmokers’ Rights Foundation. Despite owning only a minuscule portion of these companies, Trinity Health, headquartered in Livonia, Michigan, has leveraged its shareholder status to advocate for various health-related causes. For instance, public records reveal that Trinity Health holds a mere 440 shares of Bally’s stock, equivalent to approximately 0.001% of the company.
Boyd, Bally’s, and Caesars have vehemently opposed the inclusion of these proposals in the proxy materials distributed to shareholders. However, their requests were denied by the Securities and Exchange Commission, leading to the dissemination of the proposals and their underlying rationale to…
2024-05-09 15:40:46
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