Steve Wynn’s annual salary cut to $2.5 million from $4 million, filing shows

REUTERS

January 20, 2015 - 4:54 pm

Keynote speaker Steve Wynn, CEO of Wynn Resorts, speaks during a seminar at the Global Gaming Expo at Sands Expo and Convention Center in Las Vegas Tuesday, Sept. 30, 2014. (Erik Verduzco/Las Vegas Review-Journal)

Casino operator Wynn Resorts Ltd. has slashed Chief Executive Steve Wynn’s salary to $2.5 million per year from $4 million, a regulatory filing showed.

The company also extended the billionaire casino developer’s contract for two more years, till Oct. 24, 2022.

Wynn, 72, is worth $3.5 billion, according to Forbes magazine.

He will also now have to pay to use the company jet for personal purposes, though the filing outlined a $250,000 credit per year that he will receive to offset the reimbursement charges.

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