The agreement averts a walkout by 10,000 Caesars employees on the Las Vegas strip.
MGM Resorts and Wynn Resorts are still negotiating with the union.The Culinary Union said it took 20 straight hours of negotiation to produce a tentative deal for a new five-year contract, two days before a deadline for a walkout.
The previous contract expired June 1. The Culinary Union and Bartenders Union members voted to authorize a strike in September against Caesars, Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weeklyIn a statement to CNBC, Caesars Entertainment said its union employees will see meaningful wage increases that align with growth opportunities and past performance.
"We have done quite well as a company post-merger, post-pandemic," Caesars CEO Tom Reeg said on an earnings call Oct. 31."Our employees should and will participate in that." 18-year-old got hired as a Google engineer—his dad shares his No. 1 parenting rule: I take a ‘hands off approach'He said it would be the biggest wage increase for Caesars employees in the company's four decades of dealing with the Culinary Union.Reeg indicated that the company budgeted this summer for the wage increases and built new terms of the contract into the company's business model.
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