{"id":311161,"date":"2024-02-18T03:27:52","date_gmt":"2024-02-18T09:27:52","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=311161"},"modified":"2024-02-19T12:35:51","modified_gmt":"2024-02-19T18:35:51","slug":"wynn-ceo-billings-other-execs-reduce-positions-in-casino-stock","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/wynn-ceo-billings-other-execs-reduce-positions-in-casino-stock\/","title":{"rendered":"Wynn CEO Craig Billings, Other Execs Reduce Positions in Casino Stock"},"content":{"rendered":"

Wynn Resorts (NASDAQ: WYNN) CEO Craig Billings and some other high-ranking executives at the casino operator modestly trimmed their exposure to their employer\u2019s stock.<\/p>\n

\"Craig
Wynn Resorts CEO Craig Billings. He recently sold $2 million worth of Wynn stock. (Image: Wynn Resorts)<\/figcaption><\/figure>\n

A recent Form 4 filing with the Securities and Exchange Commission (SEC) indicates that on Feb. 8, Billings sold 19,235 shares of the gaming stock, grossing about $2.08 million in proceeds in the process. He earned those shares by way of stock options that are part of his overall compensation package.<\/p>\n

\n

Following the sale, Billings owns 307,904 shares of Wynn, according to the Form 4. That values his stake in the company at $34.47 million based on the Feb. 16 closing price of $105.13. He\u2019s about nine months into a four-year contract<\/a> that lifted his annual salary to $2 million, a target bonus of no less than 200% to 250% of that salary, and restricted options of 375% to 410% of that cash pay.<\/p>\n<\/div>\n

Billings took over as chief executive officer on Feb. 1, 2022<\/a>, replacing Matt Maddox. Prior to that, the Columbia Business School graduate served as chief financial officer of the gaming company and chief executive officer of Wynn Interactive. All told, he\u2019s been at Wynn for about seven-and-a-half years.<\/p>\n

Other Wynn Execs Trim Stakes<\/h2>\n

Another Form 4 indicates CFO Juliie Cameron-Doe sold 6,383 shares of Wynn on Feb. 5 at an average price of $105.27. That pared her stake in the stock to 78,150 shares.<\/p>\n

\n

She replaced Billings as chief financial officer (CFO) when he took the top role at the gaming company. Both executives were among those that agreed to reduced salaries<\/a> in exchange for equity in 2022, when the stock was struggling with the adverse effects of the coronavirus pandemic on Macau — Wynn\u2019s largest market.<\/p>\n<\/div>\n

Wynn Director Patricia Mulroy disposed of 960 shares of the stock on Feb. 9 at an average price of $105.17, modestly trimming her stake in the company.<\/strong><\/p>\n

The sales by Wynn executives are modest and pale in comparison to what\u2019s recently been seen at some other gaming companies.<\/p>\n

Billings Steadying Force for Wynn<\/h2>\n

Shares of Wynn are up 23.39% since Billings took the helm of the gaming company. Over the past two years, the stock has slightly trailed the S&P 500. But much of that lag is attributable to Macau contending with travel restrictions for essentially all of 2022.<\/p>\n

Not only has Billings navigated through that and Macau concession renewal, he\u2019s steered the company into a project in the United Arab Emirates<\/a> (UAE). That’s where Wynn is poised to become the first regulated casino operator in the Arab world. The company is also pursuing a gaming license in the New York City area, and is considered one of the top contenders for one of those permits.<\/p>\n

Under the stewardship of Billings and Cameron-Doe, Wynn has also restored its quarterly dividend and been an avid buyer of its own shares.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Wynn Resorts (NASDAQ: WYNN) CEO Craig Billings and some other high-ranking executives at the casino operator modestly trimmed their exposure to their employer\u2019s stock. A recent Form 4 filing with the Securities and Exchange Commission (SEC) indicates that on Feb. 8, Billings sold 19,235 shares of the gaming stock, grossing about $2.08 million in proceeds […]<\/p>\n","protected":false},"author":46,"featured_media":206807,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,10],"tags":[81913,81903],"acf":[],"yoast_head":"\nWynn CEO Billings, Other Execs Reduce Positions in Casino Stock<\/title>\n<meta name=\"description\" content=\"Wynn CEO Billings, Other Execs Reduce Positions in Casino Stock.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/wynn-ceo-billings-other-execs-reduce-positions-in-casino-stock\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Wynn CEO Billings, Other Execs Reduce Positions in Casino Stock\" \/>\n<meta property=\"og:description\" content=\"Wynn CEO Billings, Other Execs Reduce Positions in Casino Stock.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/wynn-ceo-billings-other-execs-reduce-positions-in-casino-stock\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-18T09:27:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-02-19T18:35:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/03\/CB.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/wynn-ceo-billings-other-execs-reduce-positions-in-casino-stock\/\",\"url\":\"https:\/\/www.casino.org\/news\/wynn-ceo-billings-other-execs-reduce-positions-in-casino-stock\/\",\"name\":\"Wynn CEO Billings, Other Execs Reduce Positions in Casino Stock\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/wynn-ceo-billings-other-execs-reduce-positions-in-casino-stock\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/wynn-ceo-billings-other-execs-reduce-positions-in-casino-stock\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/03\/CB.jpg\",\"datePublished\":\"2024-02-18T09:27:52+00:00\",\"dateModified\":\"2024-02-19T18:35:51+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Wynn CEO Billings, Other Execs Reduce Positions in Casino Stock.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/wynn-ceo-billings-other-execs-reduce-positions-in-casino-stock\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/wynn-ceo-billings-other-execs-reduce-positions-in-casino-stock\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/wynn-ceo-billings-other-execs-reduce-positions-in-casino-stock\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/03\/CB.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/03\/CB.jpg\",\"width\":1920,\"height\":1080,\"caption\":\"Wynn Resorts CEO Craig Billings. 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