Las Vegas Sun News
The List: Highest-paid executives in Las Vegas
Ranked by 2010 total compensation
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| Name | Total compensation | Salary | Non-equity incentive plan | Option/stock value realized | Cost to company | |
| 1 | Michael Leven president, COO-Las Vegas Sands Corp. | $31.8 million | $2 million | $0 | $28.7 million | $12.3 million |
| 2 | Steve Wynn CEO-Wynn Resorts Ltd. | $14.6 million | $3 million | $6.9 million | $0 | $14.6 million |
| 3 | Marc Schorr COO-Wynn Resorts Ltd. | $13.9 million | $1.8 million | $3.4 million | $5.8 million | $8.1 million |
| 4 | Richard Haddrill president, CEO-Bally Technologies | $13.5 million | $998,000 | $0 | $12.5 million | $2.7 million |
| 5 | Linda Chen president Wynn International Marketing-Wynn Resorts Ltd. | $11.4 million | $1.4 million | $2 million | $5.2 million | $6.2 million |
| 6 | Sheldon Adelson CEO-Las Vegas Sands Corp. | $9.6 million | $1 million | $5.7 million | $29,626 | $11.4 million |
| 7 | Matt Maddox CFO-Wynn Resorts Ltd. | $8.3 million | $1 million | $2 million | $4.8 million | $3.5 million |
| 8 | Jim Murren CEO, president-MGM Resorts International | $7.6 million | $2 million | $4.3 million | $0 | $9.8 million |
| 9 | Gary Loveman president, CEO-Caesars Entertainment Corp. | $5.9 million | $1.9 million | $2.7 million | $0 | $18.3 million |
| 10 | Steven Jacobs former CEO Sands China Ltd.-Las Vegas Sands Corp. | $4.9 million | $782,132 | $0 | $4 million | $3.1 million |
| 11 | Ramesh Srinivasan EVP Bally Systems-Bally Technologies | $4.8 million | $382,692 | $167,280 | $4.2 million | $1.1 million |
| 12 | Michael Yackira president, CEO-NV Energy Inc. | $4.7 million | $791,923 | $1.1 million | $1.2 million | $5.3 million |
| 13 | Bobby Baldwin chief design and construction officer-MGM Resorts International | $4.5 million | $1.6 million | $1.2 million | $46,500 | $10.2 million |
| 14 | Thomas Arasi former president, CEO of Marina Bay Sand Ptc. Ltd.-Las Vegas Sands Corp. | $4.5 million | $1.1 million | $0 | $2.9 million | $4.7 million |
| 15 | Kenneth Kay EVP, CFO-Las Vegas Sands Corp. | $4.4 million | $1.1 million | $1.1 million | $2.2 million | $7.6 million |
| 16 | Stephen Capp former EVP, CFO-Pinnacle Entertainment Inc. | $3.5 million | $500,000 | $730,000 | $2.3 million | $1.9 million |
| 17 | Farid Suleman CEO-Citadel Broadcasting Corp. | $3.2 million | $1.2 million | $0 | $0 | $30.6 million |
| 18 | Kim Sinatra general counsel-Wynn Resorts Ltd. | $3 million | $595,940 | $1.1 million | $920,500 | $2.1 million |
| 19 | Scott Butera former president, CEO-Tropicana Entertainment Inc. | $2.8 million | $1.1 million | $0 | $0 | $2.8 million |
| 20 | Frank Fertitta III CEO-Station Casinos Inc. | $2.5 million | $2.3 million | $0 | $0 | $2.5 million |
| 21 | Robert Boughner EVP and chief business development officer/CEO, president of Echelon Resorts Corp.-Boyd Gaming Corp. | $2.3 million | $1.1 million | $0 | $504,292 | $2.8 million |
| 22 | Michael Isaacs EVP, COO-Bally Technologies | $2.2 million | $600,000 | $207,720 | $1.4 million | $2 million |
| 23 | Peter Murphy president strategy and development-Caesars Entertainment Corp. | $2.1 million | $1.3 million | $800,000 | $0 | $3.7 million |
| 24 | Robert Caller EVP, CFO-Bally Technologies | $2.1 million | $365,000 | $152,643 | $1.6 million | $624,747 |
| 25 | Anthony Sanfilippo president, CEO-Pinnacle Entertainment Inc. | $2.1 million | $662,308 | $1.3 million | $0 | $5.6 million |
| 26 | Bill Boyd chairman-Boyd Gaming Corp. | $2 million | $1 million | $0 | $150,001 | $2.9 million |
| 27 | William Hornbuckle IV chief marketing officer-MGM Resorts International | $1.9 million | $1 million | $491,720 | $47,066 | $2.4 million |
| 28 | Rob Goldstein EVP, president of global gaming-Las Vegas Sands Corp. | $1.9 million | $1.5 million | $0 | $97,050 | $1.8 million |
| 29 | John Payne president Central Division-Caesars Entertainment Corp. | $1.8 million | $985,274 | $825,000 | $0 | $3.2 million |
| 30 | Alain Uboldi former EVP Belterra and Boomtown-Pinnacle Entertainment Inc. | $1.8 million | $425,000 | $525,000 | $340,900 | $1.9 million |
| 31 | Keith Smith president, CEO-Boyd Gaming Corp. | $1.8 million | $1.1 million | $0 | $0 | $3.4 million |
| 32 | Jeffrey Shaw CEO-Southwest Gas Corp. | $1.7 million | $673,644 | $403,098 | $2.6 million | |
| 33 | Thomas Jenkin president Western Division-Caesars Entertainment Corp. | $1.7 million | $1.2 million | $500,000 | $0 | $3.9 million |
| 34 | Jeffrey Ceccarelli SVP service delivery and operations-NV Energy Inc. | $1.7 million | $384,769 | $262,600 | $497,439 | $1.7 million |
| 35 | Roberto Denis SVP generation and energy supply-NV Energy Inc. | $1.6 million | $382,116 | $279,000 | $436,941 | $1.7 million |
| 36 | Scott Betts president, CEO-Global Cash Access Holdings Inc. | $1.5 million | $600,000 | $225,000 | $624,038 | $2 million |
| 37 | Paul Kaleta SVP, general counsel-NV Energy Inc. | $1.5 million | $415,385 | $322,200 | $462,273 | $1.6 million |
| 38 | George Gresham former CFO-Global Cash Access Holdings Inc. | $1.5 million | $137,019 | $0 | $1.3 million | $443,474 |
| 39 | Corey Sanders COO-MGM Resorts International | $1.4 million | $729,176 | $382,449 | $6,403 | $2.1 million |
| 40 | John Godfrey EVP, general counsel-Pinnacle Entertainment Inc. | $1.3 million | $438,461 | $320,142 | $585,661 | $1.4 million |
| 41 | Daniel D’Arrigo EVP, CFO-MGM Resorts International | $1.3 million | $629,808 | $204,884 | $35,861 | $1.6 million |
| 42 | Jacquelyn Orr former VP, general counsel-Citadel Broadcasting Corp. | $1.2 million | $342,574 | $0 | $292 | $2.4 million |
| 43 | David Ross CEO-Affinity Gaming LLC | $1.1 million | $600,000 | $450,000 | $0 | $1.1 million |
| 44 | Kevin Kelley EVP, COO-Station Casinos Inc. | $1 million | $1 million | $0 | $0 | $1 million |
| 45 | Jonathan Halkyard SVP, CFO-Caesars Entertainment Corp. | $1 million | $675,365 | $336,000 | $0 | $2.5 million |
| 46 | Paul Chakmak COO, EVP-Boyd Gaming Corp. | $995,238 | $675,000 | $0 | $0 | $2 million |
| 47 | Alex Yemenidjian president, CEO-Tropicana Las Vegas Hotel and Casino Inc. | $992,775 | $800,000 | $0 | $0 | $992,775 |
| 48 | Ferenc Szony president-Affinity Gaming LLC | $981,908 | $568,470 | $413,438 | $0 | $981,908 |
| 49 | Clifford Kortman former EVP construction and development-Pinnacle Entertainment Inc. | $971,728 | $425,000 | $524,000 | $8,160 | $1.4 million |
| 50 | Mark Lerner SVP, general counsel-Bally Technologies | $944,603 | $270,000 | $112,914 | $525,285 | $626,949 |
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Discussion: 10 comments so far…
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Are we surprised the majority are affiliated with Casinos and related entitites? How the guy from Southwest Gas got in there was surprising.
People wonder why Las Vegas is struggling with their economy? When you are a one horse town what do you expect?
The list should continue to show where the head of NV Energy shows up and the former Clark County Manager Virginia Valentine as head of the Nevada Resort Association. If SW Gas is a public utility, and the public is demanding that government behave more like private business, then private business needs to cut executive compensation as well. No Nevadan should suffer another utility rate increase when an executive paid out of public profits makes close to THREE MILLION DOLLARS A YEAR.
It would be interesting if there were columns indicating:
a) the average income of the organizations' employees
b) the change in the number of employees from 2008 to 2011
c) the change in executive income from 2008 to 2011
People should know which executives have fired lower-paid employees and given themselves hefty pay increases during this recession. We could then boycott those businesses and push to have their tax breaks revoked. The entire idea of giving tax breaks to corporations is that the benefits will "trickle down," and as voters, we have the right to see proof that this strategy truly is creating wealth among workers and consumers, not just corporations and executives.
I expect each of the above richly-paid executives truly believes that he or she is worth every penny.
But they are not. Their over-sized compensation greatly harms the companies over time. It robs the shareholders of profits, and it means less money to pay the employees. In addition, the system allows insidious conflicts of interest to become entangled in the governance of the companies. Trying to manipulate the company in order to qualify for complicated bonuses/share options creates too much temptation for the executives.
These obscene packages for the executives is one of the more recent innovations that is killing America.
The NV Energy people were left off the list inadvertently, they've now been added. I've also corrected an error in the formula used for calculating the total compensation, which has resulted in some reshuffling of the list.
Ulf Buchholz
Research Director
While many may comment on how high these pay scales are, kills America, bad for the little guy, blah blah those who are smarter will realize a good pay can come from a job within these industries and they will have a goal to achieve. I doubt any of these executives sat around on his couch and waited for the job to come to him/her, they worked their butts off and took risk.
@petef -
i don't care much about what casino or entertainment execs make, but do you really think pay for execs at government monopolies such as nv energy and sw gas is justifiable? you really think the guys at nv energy have the same challenges as those at wynn, sands, caesars, etc.?
i bet none of them has "worked their butts off" like the people from true private companies. seems like in the 15 years i've been in las vegas my utility bills have increased at least 25% (conservatively). wonder how much yackira's salary (paid by you and me) has increased.
given that we have less homes and businesses using electricity due to all the foreclosures, shouldn't the energy boss' salary go down?
I think you left out one , Mark James , CEO , Frias Management last reported in the paper as having made estimated $300 million in stocks or 50 percent of Frias Transportation plus a bonus of $17 million which was half of the profits split between Mrs Frias and CEO Mark James as bonuses and then there is Mr. James salary of which I have no knowledge.
With the economy being in the shape it is today as well as Nevada's temperatures are now starting to be in the 100's, how can Nevada Energy even think about asking for another rate increase. I was reviewing the list of Nevada's highest paid executives and 4 were at Nevada Power and 1 at Southwest Gas. The 4 executives at Nevada Power cost the company 10.3 million dollars and the 1 executive at Southwest Gas 2.6 million dollars. At least Southwest Gas will give their customers rate decreases when they make a profit. All Nevada Power does is ask for and receives increases on a yearly basis and their customers can no longer pay these increases. Nevada currently has the highest unemployment rate in the country and people are being fired and layed off daily resulting in people counting every penny and living from paycheck to paycheck. Nevada consumers need to step up and say no.