After struggling through a years-long pandemic environment and handling the fights of a stressed economy, one Las Vegas Gambling establishment, The Cosmopolitan, chose to award its staff members with a big monetary present.
On May 11th, The Cosmopolitan of Las Vegas owners surprised its more than 5,000 employees with a one-time $5,000 bonus, a generous move by owner Blackstone.
The resort held a company-wide luncheon to celebrate its success and was obviously going to hand out a huge bonus to one lucky worker. Throughout the luncheon, workers were buzzing with the anticipation of which employee would win the benefit.
Under the noise of a drumroll and removing confetti, resort president and CEO Bill McBeath announced that ALL EMPLOYEES were getting the award.
McBeath made the declaration in The Chelsea theater, a 40,000-square-foot area at the Cosmo that was filled with the company’s employees.
“We know that none of that would have been possible without the hard work and dedication of the resort’s amazing employees, and we are thrilled to recognize those contributions,” said Tyler Henritze, part of Blackstone’s team overseeing The Cosmopolitan.
The Culinary Union, which represents workers at numerous Las Vegas gambling establishments, launched a statement applauding Blackstone’s multi-million dollar kindness for its workers.
“It’s the right thing for a company to share a portion of their profits with employees who have worked so hard to make the property successful,” Culinary Union Secretary-Treasurer Ted Pappageorge said.
Representatives for the high-end resort gambling establishment and hotel said today’s bonuses amounted to more than $27 million.
The act of kindness comes as Blackstone is nearing the completion of its sale to MGM, who will take over operations of the property. The sale of the functional side is reported to be a $1.6 billion transaction.
Blackstone will keep an 80% ownership in The Cosmopolitan’s 8.7-acre Strip parcel as part of its property financial investment arm.
H/T Timcast
