Thousands of Las Vegas workers to picket MGM, Caesars casinos

Newport Casino was created in 1880. The unions are demanding higher wages, stronger protections against new technology that may threaten jobs, lower housekeeping quotas and improved safety. Pappageorge said that negotiations were “very disappointing” and the companies did not make substantive wage proposals. He estimated wage increases could cost Caesars $40 million to $60 million a year and double that for MGM based on their employee count. (Reporting by Doyinsola Oladipo in New York and Shivansh Tiwary in Bengaluru; Editing by Maju Samuel and Cynthia Osterman) MGM has said that every 1% increase in wages would add about $10 million to labor costs, according to Truist analyst Barry Jonas.

Some 95% of union members voted in September to authorize a citywide strike. Tourism is the city’s lifeblood and Las Vegas is gearing up for major events including a Formula 1 race expected to bring more than 100,000 tourists to the city in November. The unions are among the most powerful in the United States, representing 53,000 hospitality workers in Las Vegas. Unions in the auto, rail, healthcare and other industries have kept companies off balance in recent months with labor actions.

Kretinsky’s 1890s Holdings group has a 27% stake in English Premier League soccer club West Ham United, according to the club’s website, adding to his ownership of the leading Czech team, Sparta Prague. Oct 9 (Reuters) – Thousands of Las Vegas workers will picket MGM Resorts and Caesars Entertainment casinos on Thursday for the first time in nearly two decades, the unions said, as they contemplate a possible strike. 5 it had sealed a deal to avert bankruptcy through a debt restructuring agreed with its main creditors, led by Kretinsky.

This finalised a July agreement in principle that called for 1.2 billion euros of new money to be injected into Casino and a reduction of its debt by 6.1 billion euros. The French retailer said on Oct. A consortium led by Kretinsky will end up with 50.4% to 53% of Casino shares, based on the July agreement. In prior negotiations, a strike threat was enough to spur a deal, but these talks have been slow, union representatives said on Monday.

The Culinary Workers and Bartenders Unions seek a new five-year contract with improved wages and benefits as casino operators post record profits. The deal would also give Kretinsky a 7.5% stake in its remaining business, to be renamed Eviden. Kretinsky is in exclusive talks to buy Atos’s loss-making Tech Foundations branch in a 2 billion-euro deal via his EP Equity Investment vehicle, the French tech group said in August.

France’s Vivendi, controlled by billionaire Vincent Bollore, agreed in June to sell its publishing business Editis to International Media Invest (IMI), a subsidiary of Kretinsky’s Czech Media Invest (CMI). If you liked this write-up and you would like to get additional details pertaining to new pa online casino kindly visit our own web-site. Oct 5 (Reuters) – Czech billionaire Daniel Kretinsky has been on a buying spree in France, with three new investments so far this year. Most recently, supermarket group Casino finalised a deal to avert bankruptcy, which will leave a consortium led by Kretinsky with more than half of its shares.

The group, in which Kretinsky holds 50%+1 share, comprises more than 70 energy-related companies and reported combined revenue of 37 billion euros in 2022. EPH controls a total installed capacity of 14 gigawatts, according to the company’s website.