Snowden’s enormous compensation translated to $180,548 every day, $7,523 per hour, and $125 every minute. He also earned $1,942 for every dollar earned by other company employees on average.
The Penn boss fell only behind Warner Bros. Discovery, Inc. CEO David M. Zaslav, who earned $2,972 per dollar by other employees on average, and beauty supplier Estee Lauder Companies Inc. CEO Fabrizio Freda, who took home $1,965 on the company dollar.
Penn describes itself as “ North America's leading provider of integrated entertainment, sports content and casino gaming experiences.” It owns and operates many resorts and properties in Las Vegas and across the country, and also holds sports betting and online casino licenses in 19 total jurisdictions.
The company also finalized its acquisition of Barstool Sports for just over $551 million last week. It had previously purchased a 36% share for roughly $163 million and paid out the remaining $388 million.
According to research team HIP Investor’s analysis of S&P 500 companies’ CEO salaries and financial performances, Snowden should have been paid about $16 million. That’s over four times less than he made.
The gaming scene has been at the center of the entertainment revolution in numerous ways. Many states have either legalized or are battling to legalize sports betting and casinos, gambling is being integrated into common activities like video gaming and television viewership, and sports like poker are quickly rising in popularity.
So, although Snowden’s take-home pay may be above the standard of most high-profile execs, it is a reflection of the trajectory of the gaming industry—one in which Penn is a leader and only fortifying its position in.