Castaways – casino – ended in 1987. MGM said that every 1% increase in wages will equal approximately $10 million of additional wage costs, according to Jonas. He estimated that wage increase could translate to a $40 to $60 million annual financial effect on Caesars and double that amount for MGM. Over 3.3 million people visited Las Vegas in August 2023, a 7% decrease from levels during the same period in 2019 before the pandemic, according to data from the Las Vegas Convention and Visitors Authority.
Average room rates were $158.47 in August, a 31% increase from the same period 2019. The casino operators “stated in our meetings that negotiation processes are about where they thought they´d be at this time with expectations to reach an agreement in October,” Truist equity analyst Barry Jonas said in a note. Workers are negotiating for a new five-year contract to boost wages and benefits as tourism in Las Vegas recovers from depressed visitor levels during the pandemic.
The culinary workers union and bartenders union represent workers at properties around the city, including those operated by MGM Resorts International, Caesars Entertainment , and Wynn Resorts. HONG KONG, Oct 6 (Reuters) – Hundreds of thousands of visitors have flocked to the Chinese-controlled regions of Macau and Hong Kong since Sept. 29, data shows as China wraps up its Golden Week holiday, although the figures amounted to just about 85% of pre-pandemic levels.
About 95% of hospitality workers voted on Sept. 15, according to the union. The five-year union contract with MGM, Caesars, Wynn and smaller operators ended in May 2023, with an extension to Sept. 26 to authorize a strike across 22 properties on the Las Vegas Strip. “Any time after October 6th, there could be a strike,” he said. “The companies have an opportunity to do the right thing and step up and get a contract done, but if not there could be a strike any time after that,” said Ted Pappageorge, Secretary-Treasurer for the culinary union.
The unions met with MGM Resorts on Tuesday, and is scheduled to meet Caesars on Wednesday and Wynn on Friday. Pappageorge said the unions have proposed the largest wage increases ever negotiated in their history, reduced workload and room quotas for housekeepers, better safety protections for workers, among others. If you loved this post and you would like to acquire additional info about ฝากถอนขั้นต่ํา1บาท บาคาร่า kindly visit our webpage. During the eight-day national holiday, which runs until Friday, the number of daily visitors has surged more than five times from last year, taking hotel occupancy rates beyond 90%, executives said, speaking on condition of anonymity.
The store closures followed the anti-government protests that year and a subsequent crackdown, which hit retail sales that were next battered by nearly three years of stringent COVID rules. (Reporting by Farah Master and Dorothy Kam; Editing by Clarence Fernandez) The Las Vegas unions are among the most powerful in the United States, covering workers that wait tables, clean hotel rooms and prepare food.
Their demands mirror similar activity in shipping, rail and auto industries where employees have sought better compensation due to the higher cost of living as unemployment stays low.