Casino Executive Compensation

Dyepaintball12

Dyepaintball12

Well-Known Member
noblackjackhack said:
I have no problem with casino execs makin s***load of money. If the casinos werent here, neither would we be.
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That was in the middle of the down-turn and was wayyy out of line with other casino Exec's. That's messed up.
 
Solo player

Solo player

Well-Known Member
Buyout

He had a couple of years with very high packages. I'm guessing those are stock options exercised and bonuses that were awarded for taking the company private in '06. It was a lot of hard work building that great company up and then nearly going bankrupt ya know.

I wonder what someone like Wynn or Chen would get if they were bought out?
 
S

shadroch

Well-Known Member
Say what you want about him, but he made the stockholders of Harrahs a shitload of money, and took what was a fairly small group of casinos and turned it into an empire, absorbing the better known Ballys and Ceasars brands.
When the economy tanked, he postponed all the planned expansions, as oppossed to MGM who went ahead with Citi Center and almost bankrupted themselves. Instead, he concentrated on buying up the land behind his casinos and now is poised for a great expansion when the economy recovers.
 
aslan

aslan

Well-Known Member
shadroch said:
Say what you want about him, but he made the stockholders of Harrahs a shitload of money, and took what was a fairly small group of casinos and turned it into an empire, absorbing the better known Ballys and Ceasars brands.
When the economy tanked, he postponed all the planned expansions, as oppossed to MGM who went ahead with Citi Center and almost bankrupted themselves. Instead, he concentrated on buying up the land behind his casinos and now is poised for a great expansion when the economy recovers.
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The operative word is "almost." I think MGM also made a bad move with it's condo towers, which I understand are virtally empty. But Somehow, they continue to keep their corporate head above water. I have not looked at their financials, but I suspect they are not doing so well. The only ones who seem to be doing well are PA casinos. Good news for Pennsylvanians.

If Caesar's bought up adjoining land, l think they did a very smart thing. They will be expanding when everyone else is in Chapter 11 restructuring.
 
Dyepaintball12

Dyepaintball12

Well-Known Member
If these companies really want to make money they should just shut down all US casinos and play only in Macau/Singapore.

LVS made more than 4x the amount of revenue from just Marina Bay Sands (Singapore) than the Venetian/Palazzo put together.
 
aslan

aslan

Well-Known Member
Dyepaintball12 said:
If these companies really want to make money they should just shut down all US casinos and play only in Macau/Singapore.

LVS made more than 4x the amount of revenue from just Marina Bay Sands (Singapore) than the Venetian/Palazzo put together.
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MGM got kicked out of AC (Borgata) for doing business with "mobsters" in Macau. Apparently, they readily gave up AC for their stake in Macau.
 
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