Union contracts offer protections, but uncertainty remains
"We've been through big sales before," Culinary Secretary-Treasurer Ted Pappageorge said.
Pappageorge said the union's contracts require successor owners to honor existing collective bargaining agreements, protecting workers' seniority, benefits and employment rights after a sale.
"The challenges are companies are going to clean house and let go workers, requiring them to reapply and you lose your benefits or seniority," Pappageorge said. "But we have strong union contracts that mandate that any sale or new owners have to assume the contracts."
About 35,000 Culinary members work at Caesars and MGM properties, accounting for approximately 60 percent of the union's membership, according to Pappageorge.
"What's unprecedented is the fact that these two massive companies are in play at the same time. That is somewhat unusual," he said. "But it seems to be a sign of strong interest in Las Vegas."