WAMU: MGM Grand National Harbor Workers Worried New Ownership Will Cost Jobs

The MGM Grand National Harbor is one of the top-grossing casinos for its parent company MGM Resorts International. But union employees are concerned that changes to its ownership structure could result in downsizing at the casino.

In a precautionary move, union workers gave public testimony Thursday asking Maryland’s Gaming Commission to increase regulation on hedge funds seeking stakes in casinos. Union workers are worried that MGM’s new relationship with hedge funds Corvex Capital and Lands & Buildings could influence staffing levels at the National Harbor casino.

Read the fully story here.

Statement: Wall Street Investors Threaten Maryland’s Gaming Industry

Amidst growing concerns nationwide about the potentially corrosive influence of Wall Street Firms on casino management, UNITE HERE Local 25 will testify before Maryland’s Gaming Commission Meeting on Thursday, April 25th. Local 25 staff and members will call on the agency to work with stakeholders across the region to address these worrying changes in the industry.