Murren Paid $16.6 Million in 2016

It was a very good year for MGM Resorts International and Chairman and CEO Jim Murren. The company handily beat its own EBITDA target for 2016, and that translated to a big raise for the boss, whose total compensation soared 25 percent to $16.6 million.

Murren saw his compensation jump 25 percent in 2016 after the Las Vegas-based company beat its .14 billion EBITDA target for the year by 8 percent.

The reward for Murren was a bonus increase of 41.3 percent.

In all, he received $16.6 million?including $2 million in base salary and a total bonus of $5.7 million, according to a corporate filing with the U.S. Securities and Exchange Commission.

He was also granted $7.44 million in stock awards last year and $1.52 million in “other compensation,” including $250,000 for personal use of aircraft and $391,814 for personal security services.

In 2015, he was paid a total of $13.3 million.

A new five-year contract Murren signed with the company last October provides for the same base salary of $2 million a year, plus a target bonus of $4 million. He also will receive a special grant of $2 million of restricted stock units that vest at the end of the contract in 2021.

He owned 1.4 million shares of MGM as of April 5.

Articles by Author: Steve Karoul

Steve Karoul is a well-known and respected casino consultant. He has lived and worked in many different countries and has conducted casino marketing activities in well over a 100 different countries around the world. Karoul understands both casino operations and casino marketing.  He is also a gaming industry innovator who openly shares his ideas and thoughts with fellow casino industry executives. For additional information, Karoul can be reached at skaroul@euroasiacasino.com  or www.euroasiacasino.com.