Total compensation for Caesars’ Loveman tops $18 million

Caesars Entertainment Corp. Chief Executive Officer Gary Loveman earned more than $18.2 million in total compensation from the casino operator in 2010, of which almost $12.4 million was listed as option awards.

According to the company's annual report filing with the Securities and Exchange Commission on Monday, Loveman earned a salary of $1.9 million in 2010, nonequity incentive plan compensation of $2.7 million, and other compensation of more than $1.268 million.

Caesars was known as Harrah's Entertainment until changing its name in November.

Loveman earned total compensation of more than $5.9 million in 2009 and more than $39.6 million in 2008, much of which was tied to $36.4 million in option awards following the formerly public company's buyout by two private equity firms.

According to the filing, Loveman is required to use Caesars aircraft for personal and business travel due to security reasons.