Still, the combination of a tight labor market, many workers opting not to return following COVID-19, and many more leaving the services industry for other opportunities has some casino operators unveiling perks to attract and retain staff. So we think margin expansion is less about reduced promo, marketing, or unsustainable cost leverage, and more about pure headcount,” said the analyst in his note. “Our average company has 27% fewer employees at the end of 2021 vs. “MGM wasn’t able to hire because the wages weren’t competitive,” Sawyer added.Ī recent report by Bank of America analyst Shaun Kelley indicates gaming companies’ staff counts remain well below the highs seen prior to the coronavirus pandemic. While regional casinos, such as Gold Strike, were heralded for boosting margins in the wake of the coronavirus pandemic, operators face a slippery slope of suppressing headcount to keep margins elevated or risk losing customers because of slack service. Regardless of industry, workers hold considerable power in today’s tight labor market, and that is true in the casino gaming business. In Tight Labor Market, Workers Hold Cards Under the terms of the union’s new agreement with Gold Strike, wages are slated to increase 2% in 2023 and by 3.5% the following year. The Teamsters landed pay increases ranging from $1.25 to $4.50 per hour. The wages will help with retention and recruitment,” said Veronica Sawyer, Assistant Director of the Teamsters’ Convention, Trade Show and Casino Division, in a statement. Among the Gold Strike staffers receiving raises are 50 members of Local 667 Teamsters who work at the venue as front desk staff, guest services personnel, limo detailers and drivers, phone operators, valets and warehouse workers. The accord was unanimously approved by various labor organizations. MGM’s Gold Strike in Tunica, Miss, seen above. are getting pay hikes in a new three-year labor agreement. Union workers at MGM Resorts International’s Gold Strike Hotel & Casino in Tunica, Miss. Financial, Gaming Business, Mergers and Acquisitions.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |