Casino industry cuts executives' pay to save money

07/21/2009 | Google

The casino industry has instituted pay cuts for top executives as part of cost-cutting measures to battle the recession. Harrah's Entertainment instituted 5% pay cuts for top management at all of its casinos, which saved the company about $90 million, while top officials at casinos owned by Steve Wynn took a 10% to 15% hit. Meanwhile, cash bonuses are down, and in some instances have disappeared.

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