Wynn Resorts to make boss pay for company housing

Casino operator Wynn Resorts Ltd says its founder, chairman and chief executive, Steve Wynn, must henceforth pay for his company-owned home out of his own pocket, Bloomberg reports. The news agency, citing a Wynn Resorts announcement, says Mr Wynn will pay annual rent of US$525,000 (MOP4.2 million) for his villa on the company’s property in Las Vegas. Mr Wynn has been living there rent-free. The company will also reduce Mr Wynn’s basic salary to US$2.5 million from US$4 million. Wynn Resorts says the changes reflect discussions between the company and its shareholders. Wynn Resorts is the parent company of Wynn Macau Ltd.