Staff at Stanley Casino, which has bases in Blackpool and St Annes, had been holding out for a better deal after throwing out a 3.2 per cent pay rise last week.
And their determination paid off when bosses agreed to a 3.5 per cent rise or £600 a year bonus, whichever is the greater, with GMB union negotiators.
The pay agreement means the threat of a first ever strike by casino workers in the UK is lifted.
But despite the 3.5 per cent pay hike, union chiefs say the gaming industry continues to suffer from poor wages.
Mick Ainsley, of the GMB union, said the deal did not end low pay in the gaming industry.
He added: "There is still lots to do to achieve just a share of the profits from this industry for the people who create the wealth for them, the casino staff."
Stanley Casinos has sites at The Island in St Annes and the Castle Casino on Queens Promenade in Bispham.
The rejected pay offer of 3.2 per cent led to members of the GMB at Stanley's 41 casinos in England and Scotland indicating a willingness to ballot for industrial action.
GMB members work as croupiers, chefs, receptionists, cleaners, security and waiting staff, earning around £10,000 a year. Yesterday's agreement means staff will get back pay due to them since May 1 in their next pay packet.
Stanley recently sold off its 624 betting shops to William Hill for £505m and the company reports a profit of more than £26m in its latest accounts.
Bosses at Stanley Casinos are among those who hope to cash in when legislation is eventually introduced to allow Las Vegas-style super casinos to be built.
Blackpool is believed to be among the front runners in the race to land the first regional super casino.