Even though Nevada casinos last year raked in more non-gaming revenue (51%) than gaming revenue (49%) for the first time ever, casino executives are still the highest paid in the hotel.
That’s the message from a study of Nevada executives’ salaries, released at last week’s G2E Institute (see table at right).
In a nutshell, the data reveals that the vice president of casino operations enjoyed higher salaries and bonus packages than those of the vice president of food and beverage, and the vice president of hotel operations.
Because the casino has traditionally been the engine that runs the resort, it should come as no surprise that the v-p casino operations has the highest median salary, fully 18 percent higher than his nearest co-executive.
The surprise may be that the next highest median base salary is for the v-p hotel operations. Perhaps the increased average room rates and the realization of guest rooms and other amenities as profit centers for the property are likely justification.
The v-p of food and beverage is the lowest earning position of the group. This should come as no surprise as many modern resorts often lease restaurant space to outside operators, leaving just the hotel coffee shop, buffet, room service and service bars to the hotel’s food and beverage department.