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Benzinga
Benzinga
Technology
Shivani Kumaresan

Atlantic City Casino Workers Seal Labor Pacts With MGM, Caesars

MGM Atlantic City MGM Resorts Borgata Caesars Entertainment Inc Entertainment Harrah (Organization) MGM Resorts International NYSE Tropicana
  • The Atlantic City, New Jersey, casino workers union has reached an agreement with MGM Resorts International (NYSE:MGM) and Caesars Entertainment Inc (NASDAQ:CZR).
  • The agreements reached are likely to prevent strikes at MGM Resorts’ Borgata casino and Caesars Entertainment’s Caesars, Harrah’s, and Tropicana properties.
  • Unite Here Local 54 union organizers have been asking for a pay raise and had voted in favor of a strike if no deal comes through, the WSJ reported.
  • The union workers include housekeepers, bartenders, cooks, cocktail servers, and doormen.
  • From January through May, casinos in Atlantic City reported $1.08 billion in slot machine and table game revenue, versus $1.03 billion in 2019 period, the report added.
  • The union reportedly sought to set the minimum wage for workers at $18 per hour from the current wage of $13 per hour.
  • Price Action: MGM shares closed lower by 0.75% at $28.95 on Thursday.
  • Photo Via Unite Here Local 54 Union
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