Monday, June 18, 2012 | 2 a.m.
Las Vegas’ highest-earning executive raked in more than $25 million last year and had nothing to do with gaming.
A pharmaceutical honcho bested the biggest names on the Strip to earn the honor.
Rajesh Shrotriya, of Spectrum Pharmaceuticals, earned $25 million as the drug company’s CEO and president, positions he has held since August 2002. He served as Spectrum’s president and COO for two years prior to that.
Shrotriya spent decades working for numerous big-name pharmaceutical companies, including 18 years at Bristol-Myers Squibb.
Casino bosses typically top the highest-paid list.
This year’s No. 2, Las Vegas Sands President and Chief Operating Officer Michael Leven, headed the list last year with a $31.8 million paycheck. Leven had ranked No. 17 the year before.
Steve Wynn took the honor the year before that when he brought home $8.4 million. Wynn had unseated Gary Loveman, the CEO of Caesars Entertainment (then Harrah’s), who topped the list in 2008 by earning a whopping $92.3 million.
Executives’ most recent paychecks were significantly lower than in the boom years but crept up from record lows the previous year, a sign that Las Vegas’ economy is slowly improving.
Rankings, compiled by VEGAS INC, are based on an executive’s total compensation, including salary, bonus, stock awards, option awards, nonequity incentives and other pay. Calculations do not include stock and option awards that are not vested or exercised.
Below is the list of Las Vegas’ 10 highest-paid executives, ranked by the total compensation they made during the most recent fiscal year. To see a list of the top 50, visit VEGAS INC.
1. Rajesh Shrotriya
CEO, Spectrum Pharmaceuticals Inc.
Total compensation: $25,215,760
Stock awards: $15,917,100
Option awards: $6,440,000
All other compensation: $258,660
2. Michael Leven
President and COO, Las Vegas Sands Corp.
Total compensation: $23,513,560
Stock awards: $16,947,000
Nonequity incentive: $3,198,000
All other compensation: $368,560
3. Gary Loveman
CEO, Caesars Entertainment
Total compensation: $20,403,197
Option awards: $13,428,357
Nonequity incentive: $3,900,000
All other compensation: $1,174,840
4. Steve Wynn
CEO, Wynn Resorts
Total compensation: $16,474,707
Nonequity incentive: $9,062,500
All other compensation: $1,533,361
5. Sheldon Adelson
CEO, Las Vegas Sands Corp.
Total compensation: $13,845,056
Stock awards: $1,825,000
Option awards: $1,825,000
Nonequity incentive: $6,304,461
All other compensation: $2,890,595
6. Jim Murren
CEO, MGM Resorts International
Total compensation: $9,933,557
Stock awards: $288,050
Option awards: $1,278,926
Nonequity incentive: $5,486,451
All other compensation: $880,130
7. Rob Goldstein
Executive vice president, Las Vegas Sands Corp.
Total compensation: $9,325,795
Stock awards: $6,150,000
Nonequity incentive: $1,599,000
All other compensation: $76,795
8. Marc Schorr
COO, Wynn Resorts
Total compensation: $8,117,573
Nonequity incentive: $4,000,000
All other compensation: $2,117,573
9. Michael Yackira
CEO, NV Energy
Total compensation: $7,741,913
Stock awards: $3,479,151
Nonequity incentive: $1,035,000
All other compensation: $2,341,223
10. Richard Haddrill
CEO, Bally Technologies
Total compensation: $6,477,764
Stock awards: $4,058,250
Nonequity incentive: $1,400,000
All other compensation: $21,514