Wynn Resorts CEO Craig Billings, who succeeded Matt Maddox as head of the company in late 2021, will remain in the job until at least June 1, 2027.
According to GGRAsia, Billings has won an 11.1 percent salary boost as part of a new four-year employment agreement. That takes his base pay from $1.8 million to $2 million.
He also can increase his annual bonus from “no less than 200 percent to no less than 250 percent” of his salary, and hike the target value of his annual equity grant of restricted stock, “from 375 percent to 410 percent” of his salary.
Billings, who is also CEO of Wynn Macau, presided over the unit’s successful bid for a new 10-year concession in the Chinese special administrative region (SAR), where it runs Wynn Macau and Wynn Palace. In the U.S., Wynn operates two properties: Wynn Las Vegas in Nevada and Encore Boston Harbor in Massachusetts.
Billings also steered the Las Vegas-based operator through the Covid-19 pandemic and closed a deal for an anticipated $3.9 billion beachfront casino complex for Ras Al Khaimah in the Unites Arab Emirates, to be managed by Wynn Resorts. That property is slated to open in 2027.
Encore Boston Harbor plans an expansion that would add 20,000 square feet of restaurant space, an additional sports wagering facility, a dedicated poker room, a live entertainment venue and nightclub, a 2,200-space parking garage and a 400-foot elevated pedestrian bridge connecting the new facility with the existing casino, reports the Las Vegas Review-Journal. Wynn also is bidding for a New York gaming license with partner Related Cos. for a 1,500-room casino resort on the Hudson River in Manhattan.
Wynn has also extended the contract of Julie Cameron-Doe, Wynn Resorts’ chief financial officer, to June 1, 2026. Cameron-Doe will receive a 5.6 percent salary increase, from $900,000 to $900,000, and see her annual equity grant of restricted stock rise “from 150 percent to 175 percent” of her base pay.
Cameron-Doe succeeded Ian Coughlan, former president of Wynn Macau, as a non-executive director of the company. Coughlan served as president from September 2016 until February. He will remain as a company adviser until the end of 2023.
