MGM Resorts Reaches Deal With Las Vegas Unions Averting Strike: Report

MGM Resorts International MGM, a prominent player in the hospitality industry, has reportedly reached a tentative agreement with Las Vegas hospitality workers' unions, narrowly averting a potential strike that threatened to disrupt operations at eight MGM properties.

The deal was finalized less than a day before the strike was set to commence, according to a report from Reuters.

Also Read: Wynn Resorts Q3 Earnings Highlights: Revenue Beat, EPS Beat, Macau Recovery, New UAE Resort Under Construction

Representing a labor force of 25,470 workers, the culinary workers and bartenders Unions announced the new five-year tentative agreement with MGM, the report added.

This development follows closely on the heels of a similar agreement Caesars Entertainment Inc CZR reached with its 10,000 workers, as per the report.

These agreements come at a time when unions across various industries are leveraging worker shortages to negotiate better pay and benefits.

The report quoted Ted Pappageorge, secretary-treasurer of the Culinary Union, saying, "After seven months of negotiations, we are proud to say that this is the best contract and economic package we have ever won ... in our 88-year history."

The deal also promises mandated daily room cleaning and increased safety measures for employees, underscoring MGM's commitment to its workforce.

Meanwhile, the unions representing hospitality workers in Las Vegas said on Friday that they had reached a tentative deal with Wynn Resorts Limited WYNN for a new contract covering 5,000 employees, as per Reuters.

Price Action: MGM shares are trading lower by 0.92% at $37.86 in premarket on the last check Friday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.