MGM Resorts CEO William Hornbuckle earned approximately $37.9 million in pay last year, receiving a larger pay package due to the company’s record revenue and loyalty partnership with Marriott. This marked an increase in his compensation compared to previous years, as most of it was tied to the performance of the company’s stock, which rose 31% in 2023, making him one of the top-paid executives in the casino resort industry. The financial windfall came mostly through awards for achieving performance goals, with a base salary of $2 million.
Leading rival casino resort operators Wynn Resorts and Las Vegas Sands, their CEOs earned significantly less than Hornbuckle in 2023. Wynn Resorts CEO Craig Billings earned around $17.4 million in pay, with a base salary of $1.9 million and the rest from awards tied to performance goals, mainly for the company’s gaming business. Las Vegas Sands CEO Rob Goldstein made around $12.5 million, justifying the compensation as a result of successfully executing a significant recovery in both the Singapore and Macao businesses.
MGM Resorts enjoyed a stellar performance in 2023, achieving record full-year net revenue and signing a landmark licensing and loyalty partnership with Marriott International. This partnership created the “MGM Collection with Marriott Bonvoy,” allowing guests to earn points in both loyalty programs at 16 resorts. The company’s Las Vegas Strip resorts, which hosted the Formula 1 Grand Prix in November, contributed to the record performance and revenue, demonstrating the success of Hornbuckle’s leadership in driving the company’s growth.
Wynn Resorts operates properties in the U.S. and Macau, China, including Wynn Las Vegas, Encore Las Vegas, Encore Boston Harbor, Wynn Macau, and Wynn Palace. The company is also developing projects in the UAE and New York City. Las Vegas Sands, known for The Venetian Resort Las Vegas, The Venetian, The Palazzo, and the Sands Expo & Convention Center, saw its CEO Goldstein receive a pay package of $12.5 million, attributed to successfully executing recovery in Singapore and Macao businesses.
The Skift Travel 200 index monitors the performance of hotels and short-term rental sector stocks, including international and regional hotel brands, hotel REITs, management companies, alternative accommodations, and timeshares. This financial performance index combines nearly 200 travel companies worth over a trillion dollars into a single number, offering insights into the overall health and trends within the accommodations sector. The index provides a comprehensive view of the industry’s financial performance, helping investors and industry professionals make informed decisions.
