Casino Stocks Rise After Atlantic City Workers Decide Not to Strike on July Fourth Weekend

Casino Stocks Rise After Atlantic City Workers Decide Not to Strike on July Fourth Weekend

MGM Resorts Internationaland Caesars Entertainment stocks were on a move Friday after the two casino operators reached a tentative agreement with Atlantic City casino union workers, avoiding a strike on the Fourth of July weekend.

At issue were the casino workers’ wages. Contracts of union-represented workers expired at the end of May, after which they , the start of one of the year’s busiest holiday weekends. But the tentative agreement reached on late Thursday night with four casinos—MGM-owned Borgata and Caesars Entertainment-owned Caesars, Harrah’s, and Tropicana casinos—averts this strike. 

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