The Boom of Vegas' Labor Market
By Daniel Michaels, Feb 22nd 2007The actual building explosion in Las Vegas Strip is expected to bring at least four fresh resorts to the Strip and approximately 45,000 more hotel rooms to the Las Vegas market by 2012. As a result, finding enough workers to clean the rooms, work the restaurants and staff the casinos may not be so easy.
In a statement to its investors, Deutsche Bank Securities sustained that the Las Vegas casino industry will have to employ 113,500 workers for the positions offered by the new resorts. Some of the Wall Street's experts believe that if the present growth rate in Clark County's population continues to increase, about 25,000 jobs will remain vacant.
Bill Lerner, who authored the statement for Deutsche Bank, stated that older casinos will be affected by the recent businesses as actual trained workers will move to more attractive jobs and opportunities. Lerner said a job shift took place throughout the most current casino employment wave in 2005 and 2006.
He stated that Wynn Casinos received more than 110,000 requests for 9,000 jobs while Station Casinos had 100,000 applications for 2,600 positions at Red Rock Resort. The volume of those applications came from personnel already existing in Las Vegas properties.
Later this year, Las Vegas Sands Corp. wants to open the $1.8 billion Palazzo, with 3,025 rooms available. In addition, Wynn Resorts Ltd. has begun building a $1.4 billion, 2,000-room resort expected to open in 2008 and MGM Mirage's $7 billion Project CityCenter, is also under way, including a 4,000-room hotel-casino and four residence condominiums and condo-hotels toting up 2,700 rooms.
But, Boyd Gaming Corp. is planning to close Stardust site for Echelon Place, a $4 billion project that totals 5,300 hotel rooms. Also, Station Casinos is expected to close down the Aliante Station, a $600 million hotel-casino in North Las Vegas.
According to Deutsche Bank, the number of possible jobs is based on a formula of 2.5 employees per hotel room. D. Taylor, secretary of Culinary Workers Local 226, which embodies more than 60,000 hotel and restaurant employees, agreed that they will face a very serious labor deficiency unless the casino companies begin to do something about it.
He mentioned that the middle to upper end of the job employees would be the most affected, unless the industry assumes a severe job training program. Taylor also said that the union's Culinary Training Academy graduates 3,000 employees annually, but he'd love to see that number climb to 7,000.
Ron Reese, Las Vegas Sands spokesperson, stated that the business should begin the process for filling an anticipated 4,000 jobs at the Palazzo this spring.
On the other hand, Rob Stillwell, Boyd Gaming spokesman, doesn't think that the labor power will dry out when Echelon Place will be ready to hire workers, possibly by 2010.
In the meantime, MGM Mirage is already taking big steps to offer 12,000 positions at Project CityCenter, which is expected to open in 2009.
MGM Mirage expects 100,000 applications for jobs at CityCenter. Michael Peltyn, vice president of staff for CityCenter, stated that sometimes, you'll get 10 requests for one job and three or four for another.
In a statement to its investors, Deutsche Bank Securities sustained that the Las Vegas casino industry will have to employ 113,500 workers for the positions offered by the new resorts. Some of the Wall Street's experts believe that if the present growth rate in Clark County's population continues to increase, about 25,000 jobs will remain vacant.
Bill Lerner, who authored the statement for Deutsche Bank, stated that older casinos will be affected by the recent businesses as actual trained workers will move to more attractive jobs and opportunities. Lerner said a job shift took place throughout the most current casino employment wave in 2005 and 2006.
He stated that Wynn Casinos received more than 110,000 requests for 9,000 jobs while Station Casinos had 100,000 applications for 2,600 positions at Red Rock Resort. The volume of those applications came from personnel already existing in Las Vegas properties.
Later this year, Las Vegas Sands Corp. wants to open the $1.8 billion Palazzo, with 3,025 rooms available. In addition, Wynn Resorts Ltd. has begun building a $1.4 billion, 2,000-room resort expected to open in 2008 and MGM Mirage's $7 billion Project CityCenter, is also under way, including a 4,000-room hotel-casino and four residence condominiums and condo-hotels toting up 2,700 rooms.
But, Boyd Gaming Corp. is planning to close Stardust site for Echelon Place, a $4 billion project that totals 5,300 hotel rooms. Also, Station Casinos is expected to close down the Aliante Station, a $600 million hotel-casino in North Las Vegas.
According to Deutsche Bank, the number of possible jobs is based on a formula of 2.5 employees per hotel room. D. Taylor, secretary of Culinary Workers Local 226, which embodies more than 60,000 hotel and restaurant employees, agreed that they will face a very serious labor deficiency unless the casino companies begin to do something about it.
He mentioned that the middle to upper end of the job employees would be the most affected, unless the industry assumes a severe job training program. Taylor also said that the union's Culinary Training Academy graduates 3,000 employees annually, but he'd love to see that number climb to 7,000.
Ron Reese, Las Vegas Sands spokesperson, stated that the business should begin the process for filling an anticipated 4,000 jobs at the Palazzo this spring.
On the other hand, Rob Stillwell, Boyd Gaming spokesman, doesn't think that the labor power will dry out when Echelon Place will be ready to hire workers, possibly by 2010.
In the meantime, MGM Mirage is already taking big steps to offer 12,000 positions at Project CityCenter, which is expected to open in 2009.
MGM Mirage expects 100,000 applications for jobs at CityCenter. Michael Peltyn, vice president of staff for CityCenter, stated that sometimes, you'll get 10 requests for one job and three or four for another.
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The Boom of Vegas' Labor Market
