Check out what's clicking on FoxBusiness.com.
Atlantic City's main casino workers union reached an agreement on Saturday with the Hard Rock Casino, removing the last threat of a strike during the busy holiday weekend.
Local 54 of the Unite Here union said it reached a tentative agreement, avoiding a strike that had been threatened for 12:01 a.m. Sunday.
The union had reached tentative agreements on Thursday with the Borgata, which is owned by MGM Resorts International, and three Caesars Entertainment casinos: Caesars, Harrah’s and the Tropicana.
Clouds pass behind the guitar sculpture at the entrance to the Hard Rock casino in Atlantic City, N.J., on June 28, 2022. On Saturday, July 2, 2022, Hard Rock reached agreement with Atlantic City's main casino workers union, ending the last possibili ( (AP Photo/Wayne Parry) / AP Newsroom)
Resorts and the Golden Nugget are two casinos still without a contract, but the union said it expects both of them to agree to one in the coming days.
ATLANTIC CITY AVOIDS CASINO STRIKE WITH LAST-MINUTE DEAL
Bally's and the Ocean Casino Resort have signed so-called "me-too" agreements committing themselves to adopting the terms of contracts the union reaches with the larger casinos.
Clouds pass behind the Hard Rock casino in Atlantic City, N.J. ( (AP Photo/Wayne Parry) / AP Newsroom)
The deals still need to be ratified by the full union membership.
MGM RESORTS OFFERS $607M FOR SWEDISH ONLINE GAMBLING COMPANY
"We are extremely pleased that we were once again able to reach a successful settlement with Unite Here Local 54 to increase wages and benefits for our deserving team members," said Jim Allen, chairman of Hard Rock International. "We look forward to further expanding this excellent relationship at both the national and local levels as we expand our iconic brand."
A game of roulette underway at the Hard Rock casino in Atlantic City N.J. ( AP Photo/Wayne Parry / AP Newsroom)
The union had said it is seeking "significant" salary increases in new contracts to help workers keep pace with rapidly rising prices for gasoline, food, rent and other expenses.
ATLANTIC CITY 2021 CASINO EARNS SURPASS PRE-PANDEMIC LEVELS
Contract terms were not immediately made public.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BALY | TWIN RIVER WORLDWIDE HOLDINGS INC. | 20.22 | +0.44 | +2.22% |
| MGM | MGM RESORTS INTERNATIONAL | 30.00 | +1.05 | +3.63% |
| CZR | CAESARS ENTERTAINMENT INC. | 38.53 | +0.23 | +0.60% |
The deals not only avoid what would have been a costly and disruptive strike during one of the busiest weekends of the year for the casinos, but it provides labor peace in the crucial third summer of the coronavirus pandemic, as the casinos are struggling to return to the revenue and profit levels they enjoyed before it began.
The deals avoided what would have been the city’s first casino strike since 2016.
The Associated Press contributed to this report.
Business - Latest - Google News
July 03, 2022 at 02:12PM
https://ift.tt/0NeMyt1
Hard Rock deal ends casino strike threat in Atlantic City - Fox Business
Business - Latest - Google News
https://ift.tt/TMUKy2m
Bagikan Berita Ini
0 Response to "Hard Rock deal ends casino strike threat in Atlantic City - Fox Business"
Post a Comment