Las Vegas hospitality unions ratify contract with Wynn Resorts

(Reuters) – Unions representing hospitality staff in Las Vegas said on Wednesday that workers employed at Wynn Resorts (NASDAQ:) have voted in favor to ratify a new five-year contract, days after similar moves by its competitors Caesars (NASDAQ:) Entertainment and MGM Resorts (NYSE:) International.

The unions, which represent about 5,000 employees at Wynn Resorts properties, said 99% of its members voted in favor of the new agreement.

Earlier this week, union members at Caesars and MGM voted to ratify their contracts.

The newly ratified contracts, which would apply to workers at MGM, Caesars, and Wynn, would bring in increased wages for a total of 40,000 employees and an end to the threat of a labor stoppage against casino operators that could have crippled tourism in the city.

The total compensation won by the Culinary Union for workers employed at MGM Resorts, Caesars Entertainment, and Wynn Resorts casino properties is about $2 billion over the five-year contract, according to Ted Pappageorge, secretary-treasurer at Culinary Union .

The Las Vegas unions, considered among the most powerful in the United States, said they had secured the largest wage hikes ever negotiated in their history, which would bring a 10% wage increase for every worker in the first year and a total of 32% in raises over the life of the new contract.

Meanwhile, the unions said separate negotiations for 10,000 workers including cooks, bartenders and housekeepers, are ongoing with 24 smaller casinos and resorts for a new five-year contract.

Casino resort operators in Las Vegas have been earning record profits from a steady post-pandemic recovery.