Atlantic City, NJ-Hard Rock Casino reached an agreement with major Atlantic City casino workers' unions on Saturday, the final threat of a busy weekend weekend strike Was removed. Pave the way for gambling halls and their workers to focus on recovering from the economic losses of the coronavirus pandemic.
Unite Here The union's local 54 said it had reached a tentative agreement with Hard Rock to avoid the threatened strike on Sunday at 12:01 am.
The Hard Rock deal, which reached an agreement with Volgata, Caesars, Harras and Tropicana on Thursday, leaves only two small casinos, the resort and the Golden Nugget, without a deal. However, the union said it expects both parties to agree on one in the next few days.
Barry's and Ocean Casino Resort have signed a so-called "me-too" contract that promises to adopt the terms and conditions that the union enters into with larger casinos.
Transactions must be approved by full members.
"We are very pleased to have successfully settled with UniteHereLocal54 and increased the wages and benefits of the appropriate team members," said Jim Allen, Chairman of Hard Rock International. “We look forward to further expanding this excellent relationship at both the national and local levels as we expand our iconic brand.”
President of Hard Rock Atlantic City. The deal will allow casinos to focus on performance during peak tourist seasons, said Jorpo.
"I'm looking forward to a vibrant holiday weekend and a wonderful summer season," he said.
The terms and conditions were not announced immediately.
This deal is one of the busiest weekends of the year for casinos, not only avoiding costly and devastating strikes, but also labor peace during the critical third summer of the coronavirus pandemic. Brings. Casinos are struggling to return to the levels of revenue and profit they enjoyed before the casino began.
In past contracts, unions focused onhealthcare and maintaining pension benefits, but this time workers are catching up with soaring prices for gasoline and food. Asked for a "significant" salary increase to help, rent and other living expenses.
The deal is the city's first casino since 2016 when the union rejected the billionaire Carl Icahn's request that the Trump Taj Mahal Casino operate withouthealthcare and pension benefits. Avoided what would have been a strike Ended by the Bankruptcy Court.
The union went on strike on July 1st of the year and the casino was closed on October 10th. It was sold to Hard Rock International a few months later, and Hard Rock International eradicated it and reopened as the new Hard Rock Atlantic. City in June 2018.
The finances underlying the current conflict are complex.
Including internet gambling and sports betting revenue, the casino and its online partners earned $ 1.8 billion in the first five months of the year. This is an increase of more than 49% from the same period in 2019, before the coronavirus infection.
However, these numbers are misleading, as casinos have third-party partners that maintain about 70% of their internet and sports betting revenue, leaving little behind in physical casinos. Claims to invite.
———
