{"id":48782,"date":"2017-04-22T14:00:57","date_gmt":"2017-04-22T21:00:57","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=48782"},"modified":"2017-04-22T08:16:05","modified_gmt":"2017-04-22T15:16:05","slug":"mgm-resorts-ceo-james-murren-receives-large-pay-increase","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/mgm-resorts-ceo-james-murren-receives-large-pay-increase\/","title":{"rendered":"MGM Resort\u2019s CEO James Murren Receives Large Pay Increase"},"content":{"rendered":"<p>Steering MGM Resorts in what the company believes is a positive direction, CEO James Murren was rewarded with a 25 percent increase in his pay package.<\/p>\n<figure id=\"attachment_48790\" aria-describedby=\"caption-attachment-48790\" data-style=\"width: 625px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-48790 size-full\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/04\/murren.jpg\" alt=\"James Murren\" width=\"625\" height=\"414\" \/><figcaption  id=\"caption-attachment-48790\"class=\"text-description\">MGM Resorts CEO James Murren saw his pay package increase 25 percent, including raises in bonuses and stock rewards. (Image: MGM Resorts)<\/figcaption><\/figure>\n<p>The company rewarded the 54-year-old executive with a new 5-year-contract in October and the raise was based on enticements in his new deal.<\/p>\n<blockquote class=\"main-blockquote\"><p><strong>\u201cBased on the positive results of the 2016 say-on-pay vote, and considering feedback from these discussions, we believe that our shareholders are generally satisfied with our current executive compensation program and policies,\u201d according to a proxy filing Wednesday to the U.S. Securities and Exchange Commission.<\/strong><\/p><\/blockquote>\n<p>The proxy said the pay and bonus were in line with other comparable casino executives.<\/p>\n<h2>Incentives Increased<\/h2>\n<p>While Murren\u2019s base pay stayed the same at $2 million annually, his bonus and stock options rose substantially.<\/p>\n<p>The leader since 2008, he was given $5.7 million extra under the group\u2019s non-equity incentive plan, an increase of 26.9 percent from 2015. Stock awards also went up, to 19 percent for an assessed value of $7.4 million.<\/p>\n<p>Other compensation that was not categorized ballooned 167 percent to $1.5 million, in addition to $250,000 for use of a company jet and $392,000 for personal security.<\/p>\n<h2>Profitable Year<\/h2>\n<p>The award was primarily based on the company\u2019s performance last year. MGM Resorts reported a profit of $1.1 billion, compared to a loss of $448 million the year before.<\/p>\n<p>There were also other corporate highlights. The first was a creation of a publicly traded real estate investment trust, that the proxy said the initial public offering was the third largest of its kind and netted $1.1 billion in proceeds.<\/p>\n<p><a href=\"https:\/\/www.casino.org\/news\/mgm-national-harbor-betting-on-entertainment-to-attract-visitors\">National Harbor Casino<\/a> was another plus for the bottom line, as the Washington D.C. resort has performed above expectations.<\/p>\n<p>The only hiccup was the issue of charging for <a href=\"https:\/\/www.casino.org\/news\/parking-at-mgm-properties-in-las-vegas-raised-again\">parking<\/a> at the Las Vegas properties. That apparently has not been an issue, however, as they increased the price this year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Steering MGM Resorts in what the company believes is a positive direction, CEO James Murren was rewarded with a 25 percent increase in his pay package. The company rewarded the 54-year-old executive with a new 5-year-contract in October and the raise was based on enticements in his new deal. \u201cBased on the positive results of [&hellip;]<\/p>\n","protected":false},"author":42,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,18],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>MGM Resort\u2019s CEO James Murren Receives Large Pay Increase<\/title>\n<meta name=\"description\" content=\"Citing increased profits, MGM Resort gave CEO James Murren a new contract and increased compensation package that was 25 percent more than 2015.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta 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