They produced operating income of $2.3 billion. MGM’s eight Las Vegas casinos - the Aria, Bellagio, Excalibur, Luxor, Mandalay Bay, MGM Grand, New York-New York and Park MGM - brought in $6.4 billion in revenue in the first nine months of this year, or more than half of the company’s overall revenue. “We’re pleased to have reached a tentative agreement that averts a strike, gives our Culinary union employees a well-earned boost to pay and benefits and reduces workloads – all while continuing to provide opportunities for growth and advancement,” Hornbuckle said in a joint statement issued early Thursday with the union. MGM CEO William Hornbuckle told analysts during a conference call Wednesday afternoon that he believed a strike would be averted there as well, saying that he thought a deal would be reached Wednesday. The likelihood of a deal was signaled Wednesday in the wake of the deal at Caesars. It said there will be additional raises over the five-year life of the contract. The terms of the deal were not immediately available, but it likely matches the significant immediate raises the union said that it won Wednesday at Caesars, equalling nearly $4.57 an hour in additional money going immediately to a combination of pay and benefits. Overall, the city has about 150,000 hotel rooms, according to the Las Vegas Convention and Visitors Authority. There are also concerts and other events scheduled, and by some estimates the weekend is expected to draw about 100,000 visitors to the city. Practice runs are scheduled for Thursday and Friday next week, and the race itself is set for Saturday, November 18. The city is hosting an F1 Grand Prix that will include a portion of the Strip as a racetrack.

The threatened strike would have been due to start at 5 AM local time Friday.Ī strike at almost all of the city’s major casinos would have come at a particularly bad time.

Negotiations are due to take place Thursday at the remaining company facing a Friday strike, Wynn Resorts, but the threat of the largest hospitality strike in US history has largely ended.

The deal, announced in a tweet by the union, comes a day after a similar deal was reached with Caesars Entertainment that averted a strike by 10,000 other union members at nine casinos operated by that company.īoth those tentative agreements need to be ratified by rank-and-file members before they can take effect and end the risk of a strike altogether. The Culinary union has reached a deal with MGM Resorts International covering 25,400 members, averting a strike at eight casinos that had been set to start Friday.

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