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Best of Liz Benston

Gaming Guru

Liz Benston
 

Lanni last year: $9.6 million in compensation

16 April 2008

LAS VEGAS, Nevada -- Excluding the value of stock options and awards, MGM Mirage Chief Executive Terry Lanni earned $9.6 million in compensation last year. That figure includes a salary of $2 million and incentive-based compensation of $6.4 million, according to the company's latest proxy.

That would have been less than last year if not for the $12.6 million Lanni received from the value of stock options exercised last year, boosting his total compensation to more than $22 million.

The proxy revealed that executives, directors and an affiliate company bought a total of nine condominium units at CityCenter for $28.8 million. Lanni bought two units, along with two of his adult children.

Also revealed in the proxy is the latest breakdown of ownership in MGM Mirage, one of a dwindling number of public gaming companies.

With Dubai World's recently acquired 9.3 percent stake in MGM Mirage, less than 25 percent of the company's shares are publicly traded.

Lanni last year: $9.6 million in compensation is republished from Online.CasinoCity.com.