Wealthiest Casino Owners of 2017December 26, 2017 11:25 am
Casino executives and owners are amongst the wealthiest people on the planet, and this year they managed to add further to their considerable fortunes by successfully implementing expansion projects, as well as other strategic moves within the industry.
One such person is the Las Vegas Sands CEO Sheldon Adelson, 84, who in 2017 saw his salary jump from $1 million to $5 million, with his whole annual income from the company expected to reach around $17 million for the year after his performance-based compensation package is included.
Not far behind is the Wynn Resorts CEO Steve Wynn, who this year was awarded $12.5 million worth of stocks for his service, with the 75 year-old subsequently selling off $5.2 million of the shares to provide him with a huge immediate cash injection.
Meanwhile, Caesars Entertainment CEO Mark Frissora, 61, has yet to disclose his final pay packet for 2017, but it is known that he received $9.5 million in 2016 at a time when the company was doing its best to emerge from its bankruptcy. Now that this has been achieved in 2017, Frissora’s salary plus bonuses is sure to soar when they are eventually announced.
Finally, MGM Resorts CEO James Murren is the youngest person on the list at just 54, with the American businessman also being paid considerably less than his fellow CEOs. This year, Murren continued to receive his standard $2 million per annum salary, but once bonuses and stock increases are counted, Murren will actually see his pay increase by a further 25% by the year’s end.
As a result of the latest information, Sheldon Adelson continues to head the list of the world’s richest casino owners with a personal fortune estimated to be worth $21.5 billion. Adelson managed to improve the wealth of himself and his company by pivoting its operation towards the Asian market a few years ago, and second on the wealth list is Stanley Ho, who is Macau’s richest man with a fortune of $7 billion. Other casino owners appearing on the top 10 rich list includes Steve Wynn ($2.8bn), and Donald Trump ($2bn).