Money Control Place
  • Politics
  • Business
  • Stocks
  • Investing
  • Politics
  • Business
  • Stocks
  • Investing

Money Control Place

Business

MGM Resorts reaches labor deal with Las Vegas unions, averts strike

by November 10, 2023
November 10, 2023
MGM Resorts reaches labor deal with Las Vegas unions, averts strike

The unions representing hospitality workers in Las Vegas on Thursday reached a tentative deal with MGM Resorts International for a new contract covering nearly 25,400 employees, less than 24 hours before a strike threatened to shut down the Strip.

The Culinary Workers and Bartenders Unions said they have a five-year tentative agreement with the casino operator, which averts a strike at eight MGM properties and comes a day after rival Caesars Entertainment reached a deal with 10,000 workers.

MGM Resorts, the biggest Las Vegas operator by number of employees, said on Wednesday that the new contract would result in the largest pay increase in the history of its contracts with the unions.

MGM did not immediately respond to a request for comment.

Shares of MGM were up 1.78% in morning trading.

The negotiations, which began in April, came as a number of unions across industries press employers for better pay and benefits, buoyed by a shortage of workers.

The Las Vegas unions, considered among the most powerful in the United States, were demanding meaningful wage increases, funds for healthcare and pensions as well as a reduction in steep housekeeping quotas and mandating of daily room cleaning.

Caesars Entertainment, the second-biggest Las Vegas casino operator by number of employees, said that its deal with the unions provides “meaningful wage increases” and aligns with plans to bring more union jobs to the Strip.

Wynn Resorts has yet to yield an agreement ahead of Friday’s strike deadline but said it has negotiations scheduled with the unions on Thursday.

Casino resort operators have been earning record profits from a steady post-pandemic recovery in Las Vegas tourism.

Visits to the city in September were 4% lower than in the same period in 2019, according to data from the Las Vegas Convention and Visitors Authority. Room rates, however, have surged more than 47%.

The city is gearing up for events including the Formula 1 Las Vegas Grand Prix this month, which is expected to draw thousands of tourists.

This post appeared first on NBC NEWS
0
FacebookTwitterGoogle +Pinterest
previous post
United Airlines tweaks frequent flyer program to reward credit card spending
next post
Rich Checkan: Gold is Insurance, but Silver Has “Amazing” Profit Potential

Related Posts

FAA increases oversight of Boeing 737 Max 9...

February 7, 2024

Honda recalls thousands of Honda CR-V hybrids over...

December 21, 2023

Levi Strauss to sell Dockers to brand management...

May 21, 2025

Applebee’s owner plots turnaround to lure back fast-food...

May 10, 2024

DeepSeek hit with large-scale cyberattack, says it’s limiting...

January 28, 2025

Temple University reviewing reports of potential match-fixing of...

March 9, 2024

Stanley tumbler ‘quenchers’ maker is being sued over...

February 23, 2024

Dow falls 600 points in worst day of...

May 24, 2024

Fanatics will host a skills challenge between fans...

May 22, 2025

FTX exec who turned on Sam Bankman-Fried sentenced...

May 30, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • Run Your Stock Portfolio Like a Pro Sports Team

    • Leadership Rotation Could Confirm Corrective Phase

    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right Now

    • 1911 Gold Temporarily Suspends Operations at True North Complex due to Bissett Evacuation Order

    • Ontario Backs Down on Key Bill 5 Provisions, Echoes BC’s Mining Debate

    • Appeals Court Grants Trump Temporary Reprieve on Tariffs, “TACO” Taunts Gain Steam

    Categories

    • Business (1,223)
    • Investing (2,503)
    • Politics (3,699)
    • Stocks (1,614)
    • Uncategorized (20)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: MoneyControlPlace.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 moneycontrolplace.com | All Rights Reserved