As reported by: Detroit News
Casino giant MGM Mirage Inc.'s chief executive, Terry Lanni, received compensation valued at $9.7 million in 2006, a year in which the company's stock price rose 36 percent, according to an analysis of a regulatory filing Monday.

Last year, the company began construction on a $7.4 billion casino complex on the Las Vegas Strip called CityCenter, announced it was selling off casinos in Primm and Laughlin and said it was in talks to develop non-gambling hotels with international partners.

The company's share price rose from $36.67 on Dec. 30, 2005, to $57.35 on Dec. 29, 2006.

Lanni received $2 million in salary, $6.6 million in non-equity incentive plan compensation and $1.1 million in other compensation, including personal use of company aircraft, matching funds for retirement plans and insurance premiums, according to a proxy statement filed Monday with the Securities and Exchange Commission.

Article By: Detroit News