{"id":104990,"date":"2019-05-15T09:40:53","date_gmt":"2019-05-15T16:40:53","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=104990"},"modified":"2019-05-15T09:40:53","modified_gmt":"2019-05-15T16:40:53","slug":"gaming-industry-ceos-receive-reduced-pay-in-2018-as-stocks-tumbled","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/gaming-industry-ceos-receive-reduced-pay-in-2018-as-stocks-tumbled\/","title":{"rendered":"Gaming Industry CEOs Receive Reduced Pay in 2018, as Stocks Tumbled in Second Half of Year"},"content":{"rendered":"

The CEOs of the gaming industry’s largest players in the US saw their salaries decrease last year, as their stocks took a hit in the latter half of 2018.<\/p>\n

\"gaming
Billionaire Sheldon Adelson took a pay cut in 2018, but the gaming industry tycoon won’t be losing any sleep over the setback. (Image: Shahar Azran\/Getty)<\/figcaption><\/figure>\n

The Las Vegas Review-Journal <\/i>reports that five of the six examined companies paid their chief executives fewer dollars last year. But, of course, no one should worry about the CEOs being able to afford a roof over their heads.<\/p>\n

\n

Billionaire Sheldon Adelson \u2013 the founder and chief executive of Las Vegas Sands who’s worth an estimated $36.9 billion by Forbes <\/i>\u2013 led the way last year with $24 million. That’s $65,750 per day, or roughly $20,000 more than the company’s average employee who makes $40,611 a year.<\/p>\n<\/div>\n

Adelson’s pay consists of a $5 million base salary, non-incentive equity plan of $12.5 million, $1 million in awards, and over $5.5 million in “other compensation.”<\/p>\n

Following the 85-year-old, Wynn Resorts CEO Matt Maddox made $17 million in total compensation in his first year in the role. However, that’s down greatly from the $24.8 million he received in 2017.<\/p>\n

CEO Pay vs. Employees<\/b><\/h2>\n

The RJ <\/i>broke down just how much the country’s top gaming executives made in 2018 compared to their employees.<\/p>\n

Adelson made 591 times more than Sands’ average worker. Maddox made 387 times Wynn’s average $44,492 employee.<\/p>\n

Outgoing Caesars Entertainment CEO<\/a> Mark Frissora was paid $13.2 million for his services. That’s 360 years of employment for the company’s average $36,586 worker.<\/p>\n

MGM Resorts CEO Jim Murren received $12.8 million in compensation (355-1 ratio), Boyd Gaming CEO Keith Smith $7.8 million (315-1), and Red Rock Resorts billionaire Frank Fertitta III $1.96 million (63-1).<\/p>\n

\n

By comparison, Adelson made $26 million in 2017. Frissora was paid $23.2 million that same year, which represents the largest pay cut among the gaming industry CEOs. Murren received $14.5 million in 2017, and Smith $8.59 million. Only Fertitta, who was paid $1.94 million in 2017, saw his pay increase \u2013 and in his pay grade that’s negligible.<\/p>\n<\/div>\n

As Casino.org <\/i>reported earlier this year<\/a>, the net worth of the gaming industry’s global billionaires decreased by $9.3 billion last year. There are 26 billionaires predominantly invested in casinos and gaming. Hong Kong\u2019s Lui Che Woo, the 90-year-old owner of Galaxy Entertainment \u2013 one of the six Macau licensees \u2013 lost the most at an estimated $5.5 billion.<\/p>\n

Stock Falls<\/b><\/h2>\n

The second half of 2018 was a difficult period for US markets, which were flooded with extreme volatility. When all was said and done, the Dow Jones Industrial Average lost 5.6 percent, S&P 500 6.2 percent, and Nasdaq four percent.<\/p>\n

The gaming industry was hurt even worse. The Vectors Gaming ETF (exchange-traded fund) was down nearly 30 percent last year. The fund consists of 43 stocks invested in the gaming industry.<\/strong><\/p>\n

The composite has rebounded slightly this year, as the fund is up around nine percent since January.<\/p>\n","protected":false},"excerpt":{"rendered":"

The CEOs of the gaming industry’s largest players in the US saw their salaries decrease last year, as their stocks took a hit in the latter half of 2018. The Las Vegas Review-Journal reports that five of the six examined companies paid their chief executives fewer dollars last year. But, of course, no one should […]<\/p>\n","protected":false},"author":25,"featured_media":104994,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10],"tags":[],"acf":[],"yoast_head":"\nGaming Industry CEOs Receive Reduced Pay in 2018, as Stocks Tumbled<\/title>\n<meta name=\"description\" content=\"The CEOs of the gaming industry's largest players in the US saw their salaries decrease last year, as their stocks took a tumble in the second half of 2018.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gaming Industry CEOs Receive Reduced Pay in 2018, as Stocks Tumbled\" \/>\n<meta property=\"og:description\" content=\"The CEOs of the gaming industry's largest players in the US saw their salaries decrease last year, as their stocks took a tumble in the second half of 2018.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/gaming-industry-ceos-receive-reduced-pay-in-2018-as-stocks-tumbled\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2019-05-15T16:40:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/05\/sheldonadelson-0104-1452029392.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1300\" \/>\n\t<meta property=\"og:image:height\" content=\"823\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Devin O'Connor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@CasinoorgDevinO\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Devin O'Connor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/gaming-industry-ceos-receive-reduced-pay-in-2018-as-stocks-tumbled\/\",\"url\":\"https:\/\/www.casino.org\/news\/gaming-industry-ceos-receive-reduced-pay-in-2018-as-stocks-tumbled\/\",\"name\":\"Gaming Industry CEOs Receive Reduced Pay in 2018, as Stocks Tumbled\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/gaming-industry-ceos-receive-reduced-pay-in-2018-as-stocks-tumbled\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/gaming-industry-ceos-receive-reduced-pay-in-2018-as-stocks-tumbled\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/05\/sheldonadelson-0104-1452029392.jpg\",\"datePublished\":\"2019-05-15T16:40:53+00:00\",\"dateModified\":\"2019-05-15T16:40:53+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/02b4fee8814a4003903b0021bffb4ebf\"},\"description\":\"The CEOs of the gaming industry's largest players in the US saw their salaries decrease last year, as their stocks took a tumble in the second half of 2018.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/gaming-industry-ceos-receive-reduced-pay-in-2018-as-stocks-tumbled\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/gaming-industry-ceos-receive-reduced-pay-in-2018-as-stocks-tumbled\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/gaming-industry-ceos-receive-reduced-pay-in-2018-as-stocks-tumbled\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/05\/sheldonadelson-0104-1452029392.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/05\/sheldonadelson-0104-1452029392.jpg\",\"width\":1300,\"height\":823,\"caption\":\"Billionaire Sheldon Adelson took a pay cut in 2018, but the gaming industry tycoon won't be losing any sleep over the setback. (Image: Shahar Azran\/Getty)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/gaming-industry-ceos-receive-reduced-pay-in-2018-as-stocks-tumbled\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Commercial Gaming\",\"item\":\"https:\/\/www.casino.org\/news\/commercial-gaming\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Gaming Industry CEOs Receive Reduced Pay in 2018, as Stocks Tumbled in Second Half of Year\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.casino.org\/news\/#website\",\"url\":\"https:\/\/www.casino.org\/news\/\",\"name\":\"Casino.org\",\"description\":\"Latest Casino and Gaming News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.casino.org\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/02b4fee8814a4003903b0021bffb4ebf\",\"name\":\"Devin O'Connor\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-4-1-96x96.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-4-1-96x96.png\",\"caption\":\"Devin O'Connor\"},\"description\":\"Devin O'Connor is a senior reporter for Casino.org, covering politics, casino business, entertainment and gaming news on the East Coast. Devin's passion for politics and background in the world of pop culture television gives him insight into the gaming industry backstories that often drive news these days. After graduating from Penn State University with a theater arts degree, he worked at MTV Networks\/Viacom from 2005 to 2010 as a writer and producer. His credits included Total Request Live, New Year's Eve specials, and a special featuring poker superstar Daniel Negreanu. He later moved on to the HGTV\/DIY Network, where he created, wrote, and produced three series specials: That's So House Hunters, That's So 80s, and That's So 90s. Devin came on board with Casino.org in 2014. He lives in Pennsylvania and is an avid marathoner, having completed 15 races. Contact Devin at devin.oconnor@casino.org.\",\"sameAs\":[\"https:\/\/www.linkedin.com\/in\/devinoconnor\/\",\"https:\/\/x.com\/CasinoorgDevinO\"],\"url\":\"https:\/\/www.casino.org\/news\/author\/devin-oconnor\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Gaming Industry CEOs Receive Reduced Pay in 2018, as Stocks Tumbled","description":"The CEOs of the gaming industry's largest players in the US saw their salaries decrease last year, as their stocks took a tumble in the second half of 2018.","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"Gaming Industry CEOs Receive Reduced Pay in 2018, as Stocks Tumbled","og_description":"The CEOs of the gaming industry's largest players in the US saw their salaries decrease last year, as their stocks took a tumble in the second half of 2018.","og_url":"https:\/\/www.casino.org\/news\/gaming-industry-ceos-receive-reduced-pay-in-2018-as-stocks-tumbled\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2019-05-15T16:40:53+00:00","og_image":[{"width":1300,"height":823,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/05\/sheldonadelson-0104-1452029392.jpg","type":"image\/jpeg"}],"author":"Devin O'Connor","twitter_card":"summary_large_image","twitter_creator":"@CasinoorgDevinO","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Devin O'Connor","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/gaming-industry-ceos-receive-reduced-pay-in-2018-as-stocks-tumbled\/","url":"https:\/\/www.casino.org\/news\/gaming-industry-ceos-receive-reduced-pay-in-2018-as-stocks-tumbled\/","name":"Gaming Industry CEOs Receive Reduced Pay in 2018, as Stocks Tumbled","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/gaming-industry-ceos-receive-reduced-pay-in-2018-as-stocks-tumbled\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/gaming-industry-ceos-receive-reduced-pay-in-2018-as-stocks-tumbled\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/05\/sheldonadelson-0104-1452029392.jpg","datePublished":"2019-05-15T16:40:53+00:00","dateModified":"2019-05-15T16:40:53+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/02b4fee8814a4003903b0021bffb4ebf"},"description":"The CEOs of the gaming industry's largest players in the US saw their salaries decrease last year, as their stocks took a tumble in the second half of 2018.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/gaming-industry-ceos-receive-reduced-pay-in-2018-as-stocks-tumbled\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/gaming-industry-ceos-receive-reduced-pay-in-2018-as-stocks-tumbled\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/gaming-industry-ceos-receive-reduced-pay-in-2018-as-stocks-tumbled\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/05\/sheldonadelson-0104-1452029392.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/05\/sheldonadelson-0104-1452029392.jpg","width":1300,"height":823,"caption":"Billionaire Sheldon Adelson took a pay cut in 2018, but the gaming industry tycoon won't be losing any sleep over the setback. (Image: Shahar Azran\/Getty)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/gaming-industry-ceos-receive-reduced-pay-in-2018-as-stocks-tumbled\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Commercial Gaming","item":"https:\/\/www.casino.org\/news\/commercial-gaming\/"},{"@type":"ListItem","position":3,"name":"Gaming Industry CEOs Receive Reduced Pay in 2018, as Stocks Tumbled in Second Half of Year"}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/news\/#website","url":"https:\/\/www.casino.org\/news\/","name":"Casino.org","description":"Latest Casino and Gaming News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/02b4fee8814a4003903b0021bffb4ebf","name":"Devin O'Connor","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-4-1-96x96.png","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-4-1-96x96.png","caption":"Devin O'Connor"},"description":"Devin O'Connor is a senior reporter for Casino.org, covering politics, casino business, entertainment and gaming news on the East Coast. Devin's passion for politics and background in the world of pop culture television gives him insight into the gaming industry backstories that often drive news these days. After graduating from Penn State University with a theater arts degree, he worked at MTV Networks\/Viacom from 2005 to 2010 as a writer and producer. His credits included Total Request Live, New Year's Eve specials, and a special featuring poker superstar Daniel Negreanu. He later moved on to the HGTV\/DIY Network, where he created, wrote, and produced three series specials: That's So House Hunters, That's So 80s, and That's So 90s. Devin came on board with Casino.org in 2014. He lives in Pennsylvania and is an avid marathoner, having completed 15 races. Contact Devin at devin.oconnor@casino.org.","sameAs":["https:\/\/www.linkedin.com\/in\/devinoconnor\/","https:\/\/x.com\/CasinoorgDevinO"],"url":"https:\/\/www.casino.org\/news\/author\/devin-oconnor\/"}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/104990"}],"collection":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/users\/25"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/comments?post=104990"}],"version-history":[{"count":0,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/104990\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media\/104994"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media?parent=104990"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/categories?post=104990"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/tags?post=104990"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}