Wynn Resorts has extended the employment contract of its CEO, Craig Billings, by a further four years, taking him through until at least 1 June 2027, it said in a filing on Friday.
The amended employment agreement will also provide an increase to his annual base salary, from US$1.8 million to US$2 million, plus an increase to his annual target bonus from no less than 200% to no less than 250% of his annual base salary, and an increase in the target value of his annual equity grant of restricted stock from 375% to 410% of his annual base salary.
Billings, previously the company’s Chief Financial Officer, had originally inked a 16-month deal after taking over from former CEO Matt Maddox in January 2022. He is also CEO of Wynn Macau.
In its announcement, Wynn Resorts confirmed it has also extended the contract of current CFO Julie Cameron-Doe through 1 June 2026 and increased her base salary from US$900,000 to US$950,000, alongside other bonuses.
As reported by Inside Asian Gaming, Cameron-Doe was recently named as a non-executive director of Wynn Macau, coming shortly after Wynn’s Macau subsidiary returned to profit for the first time since the COVID-19 pandemic began in early 2020.
