Layoffs at Harrah's, MGM Mirage
With the recent economic slowdown reflected most apparently in the local housing foreclosures, conditions have also affected gaming.
January of this year saw casino revenue fall 1.3 percent from 2007. Particularly significant is that a drop in earnings has not been seen since 2001.
Harrah's has laid off almost 100 employees from its eight hotel-casinos in Las Vegas. About 150 have been affected at MGM Mirage's 10 Las Vegas properties.
After their November opening, Planet Hollywood has laid off 68 employees. Casinos typically overstaff for openings, however, so this may not be indicative of the downturn.
On the bright side, MGM Mirage has increased minimum wage to its workers to $7.75 an hour, with cost-of-living increases beginning next year.
The reason for the increase is more business, to have the same pay structure across all its properties to allow easy transfers.
