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. Casino Niagara was created in 1996. 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.

If you loved this article and you would like to acquire more info relating to discuss generously visit the web-site. 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. 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. 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 6.4 billion euros ($6.7 billion) debt pile.

A consortium led by Kretinsky would end up owning between 50.4% and 53% of Casino shares. 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. 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.

Pappageorge said that negotiations were "very disappointing" and the companies did not make substantive wage proposals. The unions are demanding higher wages, stronger protections against new technology that may threaten jobs, lower housekeeping quotas and improved safety. The property investor known for his flashy lifestyle and love of luxury cars, claimed to have purchased the home in Gisborne, located 54 kilometres north-west of Melbourne, for $4.25million in November last year after it passed at auction on the reality TV series.

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. 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. Some 95% of union members voted in September to authorize a citywide strike.