🎁 💸 Warren Buffett's Top Picks Are Up +49.1%. Copy Them to Your Watchlist – For FreeCopy Portfolio

Las Vegas casino, hotel workers set strike deadline after talks stall

Published 11/02/2023, 03:07 PM
Updated 11/02/2023, 04:06 PM
© Reuters. An exterior view of MGM Grand hotel and casino, after MGM Resorts shut down some computer systems due to a cyber attack in Las Vegas, Nevada, U.S., September 13, 2023. REUTERS/Bridget Bennett/File Photo
WYNN
-
MGM
-
CZR
-

By Doyinsola Oladipo

NEW YORK (Reuters) -Some 35,000 Las Vegas hospitality workers are ready to walk off the job on Nov. 10 in a strike against casino and resort operators MGM Resorts (NYSE:MGM) International, Caesars (NASDAQ:CZR) Entertainment and Wynn Resorts (NASDAQ:WYNN) if they do not have a labor contract by then, their unions said on Thursday.

The Culinary Workers and Bartenders Unions have been negotiating for about seven months, and 95% of their members voted at the end of September to authorize a citywide strike.

The strike would be the first for the unions since 1991 and mirrors activity in the entertainment and auto industries where employees are seeking better compensation and benefits to deal with the higher cost of living and a tight labor market, and comes as companies report record profits.

The Las Vegas unions, considered among the most powerful in the country, are demanding higher wages, stronger protections against new technology that may threaten jobs, a reduction in steep quotas for housekeepers and improved safety for workers.

The union said it has some agreements in place with the casinos. "Economically, the companies have made some movement but we are millions of dollars apart," Ted Pappageorge, Culinary Union Secretary-Treasurer told reporters on a call.

MGM and Caesars did not immediately respond to requests for comment. Wynn declined to comment on the strike deadline.

"When we reach an agreement on the contract, it's going to be the largest increase that our employees have seen in the four decades since we started interacting with the Culinary Union," Caesars Entertainment CEO Thomas Reeg told investors on an earnings call on Tuesday.

The city is gearing up for major events in November including the Formula 1 Las Vegas Grand Prix which is expected to bring more than 100,000 tourists to the city.

© Reuters. An exterior view of MGM Grand hotel and casino, after MGM Resorts shut down some computer systems due to a cyber attack in Las Vegas, Nevada, U.S., September 13, 2023. REUTERS/Bridget Bennett/File Photo

Reeg said he could not say whether a new contract was "going to happen next week, a couple of weeks from now, or a month from now. But we are in dialogue constantly with the union and have further meetings this week."

The union said no additional big table negotiations are currently scheduled with the three casino operators, including Caesars.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.