{"id":9678,"date":"2023-11-10T13:46:36","date_gmt":"2023-11-10T13:46:36","guid":{"rendered":"https:\/\/lendingsensibly.com\/markets\/wynn-gets-a-union-deal-the-stock-is-still-falling\/"},"modified":"2023-11-10T13:46:37","modified_gmt":"2023-11-10T13:46:37","slug":"wynn-gets-a-union-deal-the-stock-is-still-falling","status":"publish","type":"post","link":"https:\/\/lendingsensibly.com\/?p=9678","title":{"rendered":"Wynn Gets a Union Deal. The Stock Is Still Falling."},"content":{"rendered":"
\n
<\/p>\n

<\/p>\n

<\/p>\n<\/figure><\/div>\n

Casino operator
\n Wynn Resorts
\n (ticker: WYNN) was falling after it reported earnings. But on the upside it has reached a deal with Las Vegas Strip workers before a key Friday deadline. <\/p>\n

The Culinary Workers and Bartenders Union said it had reached a tentative agreement with Wynn covering 5,000 employees. It includes the biggest wage increases ever negotiated in the union\u2019s 88 year history, it said in a press release.<\/p>\n

\n

Rivals
\n MGM Resorts
\n (MGM) and
\n Caesars Entertainment
\n (CZR) already have announced agreements with workers. The Wynn deal came just hours before a 5 a.m. deadline that could have initiated a strike.<\/p>\n

\n Wynn Resorts
\n posted earnings Thursday that beat expectations, but its
\n Wynn Macau
\n unit disappointed investors who had hoped for a stronger recovery. Wynn Resorts shares were down 5.5% to $85.66 in premarket trading. Wynn Macau shares closed down 13% in Hong Kong.<\/p>\n

\n MGM Resorts
\n said Thursday that it had reached an agreement with the Culinary and Bartenders unions, which covers about 25,000 workers.
\n Caesars Entertainment
\n \u00a0reached a tentative deal with labor unions on\u00a0Wednesday.<\/p>\n

Write to Brian Swint at brian.swint@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Casino operator Wynn Resorts (ticker: WYNN) was falling after it reported earnings. But on the upside it has reached a deal with Las Vegas Strip workers before a key Friday deadline. The Culinary Workers and Bartenders Union said it had reached a tentative agreement with Wynn covering 5,000 employees. It includes the biggest wage increases ever negotiated in the union\u2019s 88 year history, it said in a press release. Rivals MGM Resorts (MGM) and Caesars Entertainment (CZR) already have announced agreements with workers. The Wynn deal came just hours before a 5 a.m. deadline that could have initiated a strike.<\/p>\n","protected":false},"author":1,"featured_media":9679,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39],"tags":[],"class_list":["post-9678","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets"],"yoast_head":"\nWynn Gets a Union Deal. 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