Caesar’s Entertainment, MGM Resorts International, and Las Vegas Sands, three top companies in the betting world, are in hot water again after showing up on the 2025 “Low-Wage 100” list. The yearly report put together by the Institute for Policy Studies and Inequality.org, shines a light on S&P 500 companies with the tiniest median worker pay and the biggest gaps between what bosses and workers take home.
Billions for Buybacks, Pennies for Employees
The numbers tell a powerful story. In 2024, Caesars CEO Tom Reeg made $18.4 million while the company’s average US worker earned $43,880, resulting in a pay gap of 419-to-1. MGM’s Bill Hornbuckle got $15.8 million compared to a $47,607 median employee salary — a 332-to-1 difference. At Las Vegas Sands, Robert Goldstein’s $21.9 million pay towered over the $42,426 earned by the typical worker, leading to a huge 516-to-1 gap.
The casino industry has faced criticism for wide pay gaps for a long time. The report shows that Caesars‘ top executive pay has more than doubled since 2019. This growth outpaces the company’s 40% increase in worker pay during the same time. MGM and Las Vegas Sands also saw big jumps in executive pay compared to employee wages, though not as large as Caesars.
Experts say this imbalance is more than just a bad look. The report highlights billions spent on stock buybacks, which boost share prices and executive pay, while money for worker wages and training falls short. For example, MGM put over $9.5 billion into buybacks last year, which was more than double what it spent to improve its properties.
Smaller Casino Firms Mirror Big Pay Gaps
The pay gaps are not just in the S&P 500. Looking at smaller gaming companies shows similar patterns: Penn Entertainment had a huge 734-to-1 ratio, with its CEO making $26.6 million while the typical worker earned $36,322. Boyd Gaming was next with a 304-to-1 ratio, and Golden Entertainment had 155-to-1.
People who criticize the industry say these big gaps hurt morale and make it hard to keep workers, which slows down growth in the long run. Those who want change have asked to tax companies with big pay gaps more and put higher taxes on stock buybacks.
Even with the backlash, these companies still rank among Nevada’s biggest job providers and have a major impact on the worldwide gambling scene. However, as the study points out, the industry’s tendency to put shareholders and top brass ahead of workers does not look likely to change unless regulators step in.