Union workers at Encore Boston Harbor are preparing to set a strike deadline for Wynn Resorts if their contract demands are not met. Unite Here Local 26 and Teamsters Local 25 have stated that they will announce the date and time of the strike during an event scheduled for tomorrow (Sept. 1) at 6:30 pm if an agreement is not reached.
The unions have stated that workers and union leaders will convene outside Encore Boston Harbor where they will disclose the start of the strike.
The contract expired Monday (Aug. 31). The authorization vote was 1,006 to 53 on Aug. 20. What is new on Tuesday is the clock: a specific hour when 1,350 workers stop working, unless Wynn reaches a fair contract before it arrives,” the unions said.
Following the strike announcement, the unions will provide picket captain and line formation training for union members. The training sessions will be conducted in English and Spanish.
Encore Boston Harbor Has Strong Margins
The unions have consistently highlighted that Encore Boston Harbor generated $847 million in revenue last year. However, this figure pertains to revenue, not profits.
The property’s EBITDA (earnings before interest, taxes, depreciation, and amortization) was $236.7 million, reflecting a 4.2% decrease from 2024, 8% lower than 2023, and 2.75% below the property’s 2022 performance.
Encore Boston Harbor EBITDA
2024: $236.7 million
2023: $257.4 million
2022: $243.4 million
2021: $210.1 million
2020: ($23.8 million)
2019: $23.1 million
*Encore Boston Harbor opened on June 23, 2019
While EBITDA is a metric to gauge financial performance through core operations, it does not indicate net profit. Capital One Business explains that EBITDA can sometimes present an incomplete view of profitability due to excluded costs.
The bank suggests that comparing revenues to EBITDA offers a clearer assessment. For 2024, Encore Boston Harbor’s $846.9 million revenue against $236.7 million EBITDA results in a 28% margin.
Capital One Business notes that an EBITDA margin of 10-15% is considered good, whereas a margin below 10% may signify operational challenges.
The unions argue that Wynn Resorts and its stakeholders benefit while employees are undervalued. Unite Here President Carlos Aramayo expressed dissatisfaction with workers receiving a contract that falls below their worth.
Encore Boston Harbor Labor Talks
Unite Here Local 26 and Teamsters Local 25 represent an array of employees at the Wynn Resorts property in Everett, including housekeepers, cooks, servers, bartenders, slot attendants, and warehouse personnel.
The unions are pushing for wage hikes of $10 per hour over four years and an increase in the starting minimum wage to $25 per hour for all workers. Additionally, they seek to maintain current healthcare benefits and secure pension commitments for older employees.