The Cosmopolitan of Las Vegas Hotel and Casino has awarded $27 million (£22 million) in bonuses to its entire workforce of 5,400 employees, with each receiving $5,000. The surprise announcement was made by CEO Bill McBeath, prompting tears and applause from staff as purple confetti fell and Bruno Mars' '24K Magic' played.
Edgar Rives, a chef at the employee cafeteria for nine years, described the bonus as 'amazing.' Chief People Officer Daniel Espino praised workers across all roles, from room cleaning to card dealing, saying, 'It’s you, every single day, that makes a difference.'
The gesture comes as the casino’s owner, private equity firm Blackrock Real Estate, prepares to sell the property to MGM Resorts International in a deal reportedly worth up to $1.6 billion. The Culinary Union, representing many Las Vegas casino employees, commended the move, with Secretary-Treasurer Ted Pappageorge stating, '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.'
The bonuses follow a difficult period for the casino industry, which was severely impacted by the Covid-19 pandemic. The Cosmopolitan is located on the Las Vegas Strip, between MGM-owned Bellagio and City Center.
