HomeMarket NewsWynn Resorts' Successful Labor Deal with Las Vegas Culinary Workers Hours before...

Wynn Resorts’ Successful Labor Deal with Las Vegas Culinary Workers Hours before Strike Deadline

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Wynn Palace Hotel

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The Culinary Workers Union Local 226 in Las Vegas struck a tentative five-year deal with Wynn Resorts (NASDAQ:WYNN), just three hours before the strike deadline.

The new tentative agreement with Wynn Resorts (WYNN) will benefit around 5,000 hospitality workers in Las Vegas. Similarly, Caesars Entertainment (CZR) and MGM Resorts International (MGM) also reached new labor agreements with their culinary workers and bartenders earlier in the week.

During the Wynn Resorts (WYNN) earnings call (transcript), CEO Craig Billings expressed optimism about the company’s future, citing a strong pipeline of forward group demand, robust gaming market share, and an exciting programing calendar featuring events like F1 and the Super Bowl. Despite growing complexities in areas like inflation, rates, and geopolitics, Billings remarked, β€œthings continue to feel pretty good around here.”

Wynn Resorts (WYNN) experienced a premarket stock decline of 4.85% on Friday.

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