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July 23, 2014

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Pharmaceutical chief beats casino bosses for highest-paid executive in Las Vegas

Las Vegas’ highest-earning executive raked in more than $25 million last year and had nothing to do with gaming.

A pharmaceutical honcho bested the biggest names on the Strip to earn the honor.

Rajesh Shrotriya, of Spectrum Pharmaceuticals, earned $25 million as the drug company’s CEO and president, positions he has held since August 2002. He served as Spectrum’s president and COO for two years prior to that.

Shrotriya spent decades working for numerous big-name pharmaceutical companies, including 18 years at Bristol-Myers Squibb.

Casino bosses typically top the highest-paid list.

This year’s No. 2, Las Vegas Sands President and Chief Operating Officer Michael Leven, headed the list last year with a $31.8 million paycheck. Leven had ranked No. 17 the year before.

Steve Wynn took the honor the year before that when he brought home $8.4 million. Wynn had unseated Gary Loveman, the CEO of Caesars Entertainment (then Harrah’s), who topped the list in 2008 by earning a whopping $92.3 million.

Executives’ most recent paychecks were significantly lower than in the boom years but crept up from record lows the previous year, a sign that Las Vegas’ economy is slowly improving.

Rankings, compiled by VEGAS INC, are based on an executive’s total compensation, including salary, bonus, stock awards, option awards, nonequity incentives and other pay. Calculations do not include stock and option awards that are not vested or exercised.

Below is the list of Las Vegas’ 10 highest-paid executives, ranked by the total compensation they made during the most recent fiscal year. To see a list of the top 50, visit VEGAS INC.

    • 1. Rajesh Shrotriya

      CEO, Spectrum Pharmaceuticals Inc.



      Total compensation: $25,215,760

      Salary: $700,000

      Bonus: $1,900,000

      Stock awards: $15,917,100

      Option awards: $6,440,000

      All other compensation: $258,660

    • Chinese New Year at The Venetian and Palazzo.

      2. Michael Leven

      President and COO, Las Vegas Sands Corp.



      Total compensation: $23,513,560

      Salary: $3,000,000

      Stock awards: $16,947,000

      Nonequity incentive: $3,198,000

      All other compensation: $368,560

    • 3. Gary Loveman

      CEO, Caesars Entertainment



      Total compensation: $20,403,197

      Salary: $1,900,000

      Option awards: $13,428,357

      Nonequity incentive: $3,900,000

      All other compensation: $1,174,840

    • Casino owner Steve Wynn reportedly will meet Sunday with New England Patriots owner Robert Kraft to discuss the possibility of Wynn building a gaming resort across from Gillette Stadium in Foxborough, Mass.

      4. Steve Wynn

      CEO, Wynn Resorts



      Total compensation: $16,474,707

      Salary: $3,878,846

      Bonus: $2,000,000

      Nonequity incentive: $9,062,500

      All other compensation: $1,533,361

    • Sheldon Adelson, chairman and CEO of Las Vegas Sands Corp., is against online gambling because he doesn't believe young people can be prevented from making wagers, a spokesman said Wednesday. Adelson is shown here at a news conference for the opening of the Venetian Macao Resort Hotel on Aug. 28, 2007.

      5. Sheldon Adelson

      CEO, Las Vegas Sands Corp.



      Total compensation: $13,845,056

      Salary: $1,000,000

      Stock awards: $1,825,000

      Option awards: $1,825,000

      Nonequity incentive: $6,304,461

      All other compensation: $2,890,595

    • 6. Jim Murren

      CEO, MGM Resorts International



      Total compensation: $9,933,557

      Salary: $2,000,000

      Stock awards: $288,050

      Option awards: $1,278,926

      Nonequity incentive: $5,486,451

      All other compensation: $880,130

    • Rob Goldstein

      7. Rob Goldstein

      Executive vice president, Las Vegas Sands Corp.



      Total compensation: $9,325,795

      Salary: $1,500,000

      Stock awards: $6,150,000

      Nonequity incentive: $1,599,000

      All other compensation: $76,795

    • 8. Marc Schorr

      COO, Wynn Resorts



      Total compensation: $8,117,573

      Salary: $2,000,000

      Nonequity incentive: $4,000,000

      All other compensation: $2,117,573

    • 9. Michael Yackira

      CEO, NV Energy



      Total compensation: $7,741,913

      Salary: $886,539

      Stock awards: $3,479,151

      Nonequity incentive: $1,035,000

      All other compensation: $2,341,223

    • 10. Richard Haddrill

      CEO, Bally Technologies



      Total compensation: $6,477,764

      Salary: $998,000

      Stock awards: $4,058,250

      Nonequity incentive: $1,400,000

      All other compensation: $21,514

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    1. Yep, big Pharma makes money off people's deteriorating health. Sadly the cure for cancer and other diseases will never be "found" because these people make money off the drugs they promote to give temporary relief. Cures = $0 profit. If Obama wants healthcare to improve in this country, he should start giving incentive bonuses to doctors that help cure patients, instead of creating a domino effect of diseases related to take prescription drugs and medications.