{"id":777005948,"date":"2023-06-05T09:18:17","date_gmt":"2023-06-05T12:18:17","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777005948"},"modified":"2026-04-22T21:17:49","modified_gmt":"2026-04-23T00:17:49","slug":"craig-billings-extends-contract-as-wynn-resorts-ceo","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/craig-billings-extends-contract-as-wynn-resorts-ceo","title":{"rendered":"Craig Billings extends contract as Wynn Resorts CEO"},"content":{"rendered":"\n

Billings will continue in his role as CEO of Wynn Resorts until June 2027.<\/p>\n\n\n\n\n\n\n\n

Macau.- Wynn Resorts chief executive officer Craig Billings<\/strong> has signed a four-year contract extension, taking his leadership of the company to June 2027. Contractual details disclosed in a filing with the US Securities and Exchange Commission show Billings will get an above-inflation rise in his annual salary, from MOP14.63m (US$1.8m) to US$2m.<\/p>\n\n\n\n

Under the revised terms, Billings annual target bonus has been raised from a minimum of 200 per cent to a minimum of 250 per cent of his annual base salary. The value of his annual equity grant of restricted stock has been raised from 375 per cent to 410 per cent of his annual base salary.<\/p>\n\n\n\n

Billings joined Wynn Resorts in March 2017. After serving as the company’s chief financial officer and later as the chief executive officer of Wynn Interactive, he assumed the CEO position on February 1, 2022, following\u00a0the departure of Matt Maddox<\/a>.<\/p>\n\n\n\n

Last month, the company announced\u00a0the appointment of Julie Mireille Cameron-Doe<\/a>\u00a0<\/strong>as a non-executive director after\u00a0Ian Michael Coughlan<\/strong>\u2018s term as a non-executive director concluded.<\/p>\n\n\n\n

The company said Cameron-Doe brings a wealth of experience to the role, having served as chief financial officer of Wynn Resorts since April 2022. Before that, she held the position of chief financial officer at Australia-listed Aristocrat Leisure Limited. <\/p>\n\n\n\n

Wynn Macau reports US$47.13m profit for Q1<\/h2>\n\n\n\n

Wynn Macau <\/strong>has shared its financial results for the first quarter of the year. It reported a profit of US$47.13m, up from a loss of US$98.26m for the same period last year. The company recorded\u00a0adjusted property EBITDAR of US$155.8m<\/strong>, reversing a negative US$5.54m in the first quarter of 2022.<\/p>\n\n\n\n

Wynn Palace <\/strong>saw revenue of US$369.36m during the period, up 126.2 per cent when compared to last year. The property recorded adjusted property EBITDAR of US$111.05m, compared to a loss of $864,000<\/a>.<\/p>\n\n\n\n

Casino revenue at the property was up 136.6 per cent in year-on-year terms to US$270.68m, while VIP turnover was up by 137.5 per cent at US$2.29bn and the mass table drop 122.2 per cent at US$1.18bn.<\/p>\n\n\n\n

Meanwhile, Wynn Macau<\/strong>\u2018s revenue was US$230.72m, up 70.8 per cent year-on-year. Adjusted property EBITDAR was US$44.74m, up from a loss of US$4.68m. Casino revenue at the venue grew by 72.2 per cent to US$176.38m and VIP turnover 29 per cent to US$1.14bn.<\/p>\n","protected":false},"excerpt":{"rendered":"

Billings will continue in his role as CEO of Wynn Resorts until June 2027.<\/p>\n","protected":false},"author":176,"featured_media":26502,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Wynn Resorts has extended CEO Craig Billings' contract until June 2027, significantly increasing his compensation package. Concurrently, Julie Mireille Cameron-Doe, formerly CFO of Aristocrat Leisure, has been appointed as a non-executive director. These corporate governance updates coincide with Wynn Macau reporting a substantial Q1 profit of US$47.13m, reversing prior losses and demonstrating robust recovery across its Macau properties with strong growth in casino revenue, VIP turnover, and mass table drop.","focusai_entities":"Craig Billings, Wynn Resorts, US Securities and Exchange Commission, Wynn Interactive, Matt Maddox, Julie Mireille Cameron-Doe, Ian Michael Coughlan, Aristocrat Leisure Limited, Wynn Macau, Wynn Palace","focusai_location":"Macau, United States, Australia","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), compliance_legal (0.8), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Macau Recovery Sustainability","query":"What specific market dynamics and operational efficiencies underpinned Wynn Macau's significant Q1 profit reversal, and what is the projected sustainability of this recovery trajectory given regional competitive pressures?"},{"label":"Executive Compensation Impact","query":"How does the revised executive compensation structure for CEO Craig Billings align with Wynn Resorts' long-term shareholder value creation strategy, particularly in the context of the Macau market's ongoing recovery and diversification efforts?"}],"footnotes":""},"categories":[157,16338],"tags":[23906,20777],"class_list":["post-777005948","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-macau-casinos","tag-wynn-macau"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777005948","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777005948"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777005948\/revisions"}],"predecessor-version":[{"id":777005980,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777005948\/revisions\/777005980"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/26502"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777005948"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777005948"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777005948"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}