Number of CEOs from Las Vegas gambling conglomerates and their annual earnings in the past year.
In a recently published report by the Las-Vegas Review Journal, the earnings of top gaming industry leaders in Nevada have been scrutinized using publicly available data. The findings reveal some eye-popping numbers, especially when it comes to the CEO's total compensation that often dwarfs their base salary.
Let's take a look at the big earners of 2023:
- Robert Goldstein, CEO of Las Vegas Sands Corp., pockets a base salary of $3 million but walks away with a staggering total compensation of $21.9 million.
- Thomas Reeg, CEO of Caesars Entertainment, takes home $2 million as basic pay, but his total compensation amounts to $18.6 million.
- Bill Hornbuckle, CEO of MGM Resorts International, earns a basic salary of $2 million and a total compensation of $17 million.
- Craig Billings, CEO of Wynn Resorts, snags a base salary of $2 million, but his total compensation rounds up to $16.2 million.
- Jay Snowden, CEO of Penn National Gaming, earns a base salary of $1.8 million with a total compensation of $15.5 million.
- Keith Smith, CEO of Boyd Gaming, bags a base salary of $1.55 million and a total compensation of $11.4 million.
- Robson Reeves, CEO of Bally's Corp., pockets a base salary of $1.1 million and a total compensation of $4.54 million.
- Blake Sartini, CEO of Golden Entertainment, earns a base salary of $1.05 million with a total compensation of $6.1 million.
- Frank Fertitta III, CEO of Red Rock Resorts, earns a base salary of $1 million with a total compensation of $3.5 million.
Digging deeper, the high total compensation of these gaming industry titans seems to be influenced by a range of factors. These CEOs possess extensive regulatory compliance experience and multi-company leadership, which drive their compensation. For instance, the new Nevada Gaming Control Board chairman, Mike Dreitzer, brings cross-sector expertise in gaming technology, testing, and content development [1].
Moreover, corporate perks and related-party transactions also play a significant role. Take Fidelity National Financial, chaired by Golden Knights owner Bill Foley, for example. In 2023, they spent over $1.3 million on Golden Knights tickets and $251,770 on Foley Family Wines for corporate events, indirectly benefiting affiliated executives [2].
High-profile board positions at companies like RWLV, where former MGM CEO Jim Murren and ex-Nevada Gov. Brian Sandoval serve, also contribute to enhanced compensation by leveraging regulatory negotiation experience. Their roles in resolving anti-money laundering violations and managing high-stake crises underscore the premium put on crisis management skills [5].
Leadership in newly established regulatory bodies, such as Murren’s role with the UAE’s General Commercial Gaming Regulatory Authority, highlights how global advisory positions supplement compensation through consulting fees or reputational capital [5]. While the base salaries for gaming regulators like the Nevada Gaming Control Board chairman were reported at $223,256 annually (as of 2023 data), private-sector CEO compensation likely includes equity stakes, performance incentives, and consulting arrangements not detailed in the available reports. The combination of compliance demands, hospitality-linked perks, and international regulatory expansion creates a complex compensation landscape.
- What is the total compensation of Robert Goldstein, CEO of Las Vegas Sands Corp., in 2023? It is $21.9 million.
- Thomas Reeg, CEO of Caesars Entertainment, exceeds his basic salary of $2 million with a total compensation of $18.6 million in 2023.
- In 2023, Bill Hornbuckle, CEO of MGM Resorts International, not only earns a base salary of $2 million but also a total compensation of $17 million.
- The total compensation of Craig Billings, CEO of Wynn Resorts, reached $16.2 million in 2023, despite his base salary being just $2 million.
