On list of highest-paid executives in Vegas, gaming industry reclaims top spot
After a unique year that saw a pharmaceutical company CEO top the list of the highest-earning executives in Las Vegas, a gaming executive reclaimed the No. 1 spot for 2012.
Robert G. Goldstein, president of global gaming operations for Las Vegas Sands, moved up seven spots from the previous year to become the highest-earning executive in Las Vegas for the 2012 fiscal year. Goldstein's total compensation was nearly $24.2 million, the bulk of it coming from stock awards ($20.7 million).
It was a $14.8 million increase from his compensation in fiscal 2011.
Goldstein joined Las Vegas Sands in 1995 and oversees all of the company’s gaming operations, both in Las Vegas and Asia.
Dr. Rajesh C. Shrotriya, CEO of Spectrum Pharmaceuticals, fell from the top spot in 2011 to No. 6 on the 2012 list. His compensation was listed at $10.1 million, a drop of a little more than $15.1 million from the previous year. The fall can be attributed to a variety of reasons, including competition from abroad and a bevy of lawsuits launched against Spectrum, which is based in Henderson.
In all, Las Vegas Sands had four executives in the 2012 top 10:
• Michael A. Leven, the company's president and COO – second a year ago – was third on the list for 2012. His total compensation was placed at $14.9 million.
• Sheldon G. Adelson, Las Vegas Sands chairman and CEO, was fifth overall, collecting from a package put at nearly $10.7 million.
• Chris J. Cahill, executive vice president of global operations for Las Vegas Sands, was ninth on the list, with compensation placed at nearly $7.2 million.
Casino mogul Steve Wynn received the second-highest compensation in 2012, $17.7 million, up from the $16.5 million that earned him fourth place on the 2011 list. Caesars Entertainment CEO and President Gary W. Loveman had total compensation of $12.8 million, good enough for fourth place on this year's list.
Jim Murren, MGM Resorts International’s CEO and president, was seventh with compensation of $9.6 million, followed by Marc D. Schorr, Wynn Resorts COO, with just under $8.9 million.
Michael W. Yackira, NV Energy CEO, rounded out the top 10, collecting $6,484,296 in compensation.
Rankings, compiled by VEGAS INC, are based on executives' total compensation, including salary, bonus, stock awards, option awards, nonequity incentives and other pay. Calculations do not include stock and option awards that are not vested or exercised.
To see a list of the top 25, visit Vegas INC.