Bally’s enters labour agreement for Las Vegas’ Tropicana asino
Bally’s has hailed its legion of employees as “our most valuable asset” after the casino and entertainment operator disclosed a labour neutrality agreement with the International Union of Operating Engineers.
This alliance, which concerns the Tropicana Las Vegas, will see both parties take a neutral approach to organising campaigns, which will enable each employee to make an informed decision regarding their union representation.
The IUOE is the tenth largest union in the American Federation of Labor and Congress of Industrial Organizations with approximately 400,000 active members in 123 local unions throughout the United States and Canada.
“Bally’s and IUOE are aligned in our efforts to advance employee representation locally and at the national level,” said Jose Soto, Organizing Director of IUOE Local 501.
“As a result of the commitment and integrity demonstrated by Mr Kim and his team, we’ve developed a strong relationship with Bally’s that we are confident will benefit the company’s workforce for many years to come.”
This comes after the company entered into a multi-project labour agreement with the Chicago & Cook County Building & Construction Trades Council and the AFL-CIO Building and Construction Trades Department to facilitate the construction of its flagship Bally’s Chicago casino in October.
Soo Kim, Chair of the Board of Bally’s, explained: “Bally’s employees are our most valuable asset, and we have worked hard to ensure that they maintain an unimpeded right to select their representation.
“We have an established track record of building positive relationships with organised labour and look forward to continuing to foster our relationship with IUOE.”
Towards the close of September, Bally’s finalised the long mooted acquisition of Tropicana Las Vegas from Gaming and Leisure Properties and PENN Entertainment for $308m.
The real estate investment trust offloaded non-land real estate assets as PENN unloaded outstanding equity interests, with GLPI to receive a cash payment of $148m for the purchase of the Tropicana property’s non-land assets.
Pursuant to the terms of the original agreement, GLPI retained its ownership of the land and, concurrent with the closing, entered into a 50-year ground lease with Bally’s, subject to extension upon the group achieving a capital investment threshold, for an initial annual rent of $10.5m.