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Steve Wynn Paid About $10 Million as Macau Casino Opens

On April 17, 2007, billionaire casino magnate Steve Wynn, the CEO of the casino organization Wynn Resorts Limited, received a monetary compensation of about $10 million or about 7.38 million euros last year, a year which Wynn's stock improved and its price improved to about 71%. Wynn also opened a gambling casino in Macau.

Wynn's compensation package includes $2.8 million or about 2.07 million euros in total salary, $6.9 million or about 5.09 million euros in total non-equity incentive plan package and a total of $262,915 or about 194,033 euros in other compensation package, which is for the personal use of the Wynn company aircraft and the life insurance premiums for the members of the company, according to the statement given by the company on April 16, 2007 to the Securities and Exchange Commission.

The Wynn Organization was not given any stock options last year and continued to hold a 24.05% share in the company. An equal share is owned by the founder of the Japanese Pachislot and Pachinko machine manufacturer Aruze Corporation, Kazuo Okada.

On February 1, 2007, Wynn increased the base salary for their employees to about $3.3 million or about 2.44 million euros annually to bring it to the same level as the other companies in the casino industry and recognized the company's achievement in launching new properties and increased the value of their stocks.

 

01 July 2007
News Submitted by:
Lauren Desmond

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