Over 3.3 million people visited Las Vegas in August 2023, a 7% decrease from levels during the same period in 2019 before the pandemic, according to data from the Las Vegas Convention and Visitors Authority. Average room rates were $158.47 in August, a 31% increase from the same period 2019. The casino operators "stated in our meetings that negotiation processes are about where they thought theyґd be at this time with expectations to reach an agreement in October," Truist equity analyst Barry Jonas said in a note.

"Any time after October 6th, there could be a strike," he said. "The companies have an opportunity to do the right thing and step up and get a contract done, but if not there could be a strike any time after that," said Ted Pappageorge, Secretary-Treasurer for the culinary union. The deal, which massively dilutes shareholders, would bring an end to the 30-year reign of Casino CEO and controlling shareholder Jean-Charles Naouri, 74, who controls Casino via his listed holding company Rallye.

NEW YORK, Oct 3 (Reuters) - Unions representing roughly 53,000 Las Vegas workers on Tuesday kicked off critical negotiating sessions with hotel and casino operators after its members voted at the end of September to authorize a city-wide strike. Workers are negotiating for a new five-year contract to boost wages and benefits as tourism in Las Vegas recovers from depressed visitor levels during the pandemic. The culinary workers union and bartenders union represent workers at properties around the city, including those operated by MGM Resorts International, Caesars Entertainment , and Wynn Resorts.

Under the July agreement, 1.2 billion euros of new money would be injected into Casino and its 6.4 billion euros of debt would be restructured. A consortium led by Kretinsky would end up owning between 50.4% and 53% of Casino shares. PARIS, Oct 4 (Reuters) - Shares in French retailer Casino were suspended on Wednesday pending a statement, boosting speculation a final debt restructuring deal with creditors led by Czech billionaire Daniel Kretinsky to avert bankruptcy could be imminent.

He estimated that wage increase could translate to a $40 to $60 million annual financial effect on Caesars and double that amount for MGM. MGM said that every 1% increase in wages will equal approximately $10 million of additional wage costs, according to Jonas. Atomic weight or atomic mass used in stoichiometric calculations. In July, France's sixth largest retailer reached an agreement in principle with a consortium led by Kretinsky's company EPGC - alongside Casino's biggest creditor Attestor, and second-biggest shareholder Fimalac - to restructure its 6. If you liked this article so you would like to receive more info pertaining to tg777 online casino i implore you to visit our own web-page. 4 billion euros ($6.7 billion) debt pile.

26 to authorize a strike across 22 properties on the Las Vegas Strip. The five-year union contract with MGM, Caesars, Wynn and smaller operators ended in May 2023, with an extension to Sept. About 95% of hospitality workers voted on Sept. 15, according to the union. Their demands mirror similar activity in shipping, rail and auto industries where employees have sought better compensation due to the higher cost of living as unemployment stays low.

The Las Vegas unions are among the most powerful in the United States, covering workers that wait tables, clean hotel rooms and prepare food. Pappageorge said the unions have proposed the largest wage increases ever negotiated in their history, reduced workload and room quotas for housekeepers, better safety protections for workers, among others.