Gaming executives among public company’s highest-paid CEOs
Do you want to make big money? Maybe your mother told you to study law or medicine, but the real money is in gambling. Not as a high roller; as a casino manager. If you don’t believe us, check out the jaw-dropping salaries in the Las Vegas Review-Journal’s recent Sweet 16 ranking of CEO salaries at public companies headquartered in Las Vegas; among the top five, well-known gaming tycoons Four seats were occupied.
Wynn leads
According to the U.S. Securities and Exchange Commission's (SEC) formula for calculating salary and net worth, Las Vegas visionary Steve Wynn (despite being nearly blind due to a degenerative eye disease) ranks first with $17.7 million. At that annual income, we can say that, in our opinion, he could have found a better plastic surgeon and a more realistic hair color.
Using a slightly different calculation that adds stock options, notorious Scrooge and Las Vegas Sands CEO Sheldon Adelson is clearly in first place with $41.3 million in bundled earnings ; This includes $30.6 million in stock options and $10.7 million in actual compensation. For such dough we walk like Venetians.
Through some clever tricks, Adelson's wife, Dr. In 2012, Miriam Adelson was paid a modest $50,000, whatever that means, for serving as the gaming conglomerate's "director of community engagement." But because she allegedly helped stabilize the company (perhaps that means she gave her husband bipolar medication?), the lady was awarded a whopping $3.8 billion. Yes, billions. Maybe the White House should give her a call and see what she could do with a spreadsheet if she had that talent.
Loveman feels the love
Caesars Entertainment CEO Gary Loveman didn't do much last year: He came in third with $12,800,000 in take-home pay. Salary typically accounts for only a quarter (or less) of an executive's total salary; we suspect that, in addition to stock options and securities, there are plenty of private jet trips, gourmet meals, and luxury hotel suites wherever they are in the world at.
Fourth place was the only award won by a non-gaming executive. Rajesh Shrotriya, CEO of Spectrum Pharmaceuticals, a company that makes cancer treatments, was No. 1 last year, but the company fell to No. 4 due to a 60% pay cut due to reduced stock and option awards. However, we're pretty sure he can still afford a good mortgage with an annual salary of $10,108,000.
Last and least
The last of these wealthy executives is MGM Resorts International's James Murren, who earned a net salary of $9,641,000 in 2012. Given MGM's poor first-quarter results and its ambitious casino projects, we expect it may move up the rankings over the next year or two. But even if he doesn't, nearly ten million dollars would still make a lion roar.
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- Checked Iovation connection to Ultimate Gaming
Source: www.casino.org
