“This is unprecedented,” Ted Pappageorge, secretary-treasurer for Culinary Workers Union Local 226, said. “The scale of these, these are both blockbuster deals.”
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“There are corporate raiders out there, and their goal is to buy companies and blow them up and make money off the parts,” Pappageorge said. “But that's not where the Golden Nugget's coming from.”
Pappageorge said the union will continue watching the MGM proposal closely.
“We'll see about the deal with MGM Resorts,” Pappageorge said. “We don't think that's the case.”
Pappageorge said the union’s current contracts would remain in place under any new ownership and that any buyer would be expected to sign an assumption letter honoring those agreements.
“If you get a $10 an hour wage increase, it doesn't matter if the company gets sold and they can fire you tomorrow,” Pappageorge said. “So, our contracts are ironclad.”