LETTER: Don’t blame unions for high costs on the Strip
Responding to Victor Joecks’ Aug. 22 column regarding casino profits decline”:
It’s no surprise that Mr. Joecks blames higher labor costs and union demands. A closer look reveals CEO pay in the gaming industry rose 31.7 percent from 2020 to 2024, averaging $16 million. In 2024, the median worker earned $43,880 while Caesars CEO earned $18 million, a 419-to-1 ratio of CEO pay to worker. Rooms rates have increased by 70 percent since 2015. Since 2020, the cost-of-living index in Vegas is only 1 times the national average.
There are 177,600 fewer visitors year to date, many from Mexico and Canada. Arguably, GOP tariffs and tighter U.S. foreign policies impact Vegas more so than other cities and states. But, to that, Mr. Joecks states that tariffs have not affected Florida. I say, apples and oranges. The reality is Las Vegas is a city and Florida is a state. Vegas caters to predominantly non-family tourists and offers limited activities. Florida offers varied activities to predominantly families with varied budgets.
Further, even if you believed all the nonsense excuses that Mr. Joecks offers, why have locals casinos posted record earnings for the same period? They have unions and high labor costs.
The answers are simple: Casinos are their own worst enemy. Mismanagement, greed (on the Strip) and incompetence also come to mind.
