The most paid job when it comes to a casino job is as part owner (also known in the industry as a COO). There are various tiers as well as a large variety of salaries on the market. Here are some of the highest pay grades by category and location, in dollars.
1. General Manager
This role was formerly thought of as being the executive who makes the calls and the moves to get the biggest payoff for the owner. However, in recent years it is changing to mean not just having a position as the executive but being a part owner as well. The new definition of this role is more about being the person who is responsible for the strategy of the business itself (whether from a management perspective or a marketing or promotions one).
The salary range is about a million to almost a million dollars in today’s dollars a year, depending on the specific location and position. It’s also possible to make a living doing general management. You can live a pretty good life even doing the work of a general manager and make a good living.
You may want to consider pursuing this position if you can work with someone that’s great at their task and the people are not a risk to the project, and you have some real estate and an asset on the table. This is a pretty low paying gig, but you do have the time to have fun with the company.
2. Vice President
With the rise of the gaming industry since the early 1990’s, and also with the increasing number of people in the industry with real estate experience, the position of Vice President of Business Development has taken some of the best and brightest out of the casino business. You are probably looking at someone that owns many properties to manage, has done other successful projects as well as working in other facets of the business in another capacity. You are usually responsible for a lot of sales/business development activities.
For the average investor, this job is great and also a good opportunity to gain a lot of valuable experience and meet people that you may not have met otherwise. In some cases however, this is not the best position you could be in.
For example, I will say this is a high paying job in Vegas but when we look at the overall compensation of the general manager job, it costs about $300,000 per year to live and travel. That is not much in terms of income per year, so that’s not necessarily a big deal when you are getting about a million more dollar a
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