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StumblePublished Tuesday, April 15, 2008 | 9:06 a.m.
Updated Thursday, Oct. 30, 2008 | 2:14 p.m.
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.
Ya maybe you should give up some of your money so the 400 workers that is being layed off from MGM could have a job any body that made that much last year could live the rest of there lives with that much
when will it stop the cost of food,gas,housing and this guy only made two million last year from his work boo hoo
Such arrogance - laying off workers and taking compensation like this.
Clearly this is not the time for a gaming tax increase. It might cut into Lanni's salary.
If he is so good at what he does, why are they laying off right now?
Here is what the residents of Clark County should whine about, and not airfares or cuts in flights..What possible reason would a person need to make this kind of money by running gambling halls and hotels, but you call it entertainment !! And lays 400 people off that probably worked harder than this man ever did. Talk about a city whose motto should be "Greed is Good" ??!! The sad thing is that the fools who are long term residents let him get away with it, by patronizing his properties. Anyone with this kind of arrogance and thinking he is contributing something to the good of mankind has to be nuts. But there is a fine line between genius and insanity.......