MGM Resorts Seals Landmark Labor Deal Amid Detroit Strike And Booming Vegas Tourism - Caesars Entertainme

MGM Resorts International (NYSE:MGM) reached a significant milestone on Tuesday, as over 25,000 of its employees, represented by the Culinary Union, voted to ratify a new five-year contract.

"Thousands of Culinary Union members employed at MGM Resorts have voted by 99% YES to ratify their new 5-year BEST CONTRACT EVER! Congratulations to 25,400 hospitality workers," the Las Vegas union said in a post on X, formerly known as Twitter.

The ratification comes a day after thousands of employees ratified a contract with rival Caesars Entertainment, Inc. (NASDAQ:CZR), according to a news report by Reuters.

Workers at MGM in Detroit have continued their strike, which began in mid-October, after rejecting a proposed five-year labor contract on Monday, the report read.

Also See: MGM Resorts International Beats The Street In Q3, Authorizes New Share Buyback Program

They have affirmed their commitment to extend the strike, which has now lasted for over a month, it added.

Earlier this month, the Las Vegas unions, known as some of the most influential in the United States, successfully negotiated for mandatory daily room cleaning and enhanced safety measures for workers as part of a tentative agreement, according to the report.

Price Action: MGM shares are trading higher by 0.70% in the premarket to $40.14 on the last check Wednesday.

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

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