In Brief

Allegiant Air increases flier counts during first quarter

Las Vegas-based Allegiant Air grew its passenger counts more than 12 percent in the first three months of the year, the air carrier announced Monday.

Allegiant carried more than 1.35 million passengers between January and March, compared with 1.2 million passengers in the same three-month period a year ago. In March, Allegiant carried almost 9 percent more travelers than it did in the same month last year.

Macquarie Securities gaming analyst Joel Simkins said the more important statistic was the airlines' load factor during the quarter. Allegiant's planes flew at 91.7 percent capacity during the three-month period, which was the airline's highest figure since the third quarter of 2008.

Allegiant Air is a unit of Las Vegas-based Allegiant Travel Co. Shares of Allegiant Travel Co., which trade on the Nasdaq National Market, fell $1.19, or 2.11 percent, Monday to close at $55.21.

Wynn's compensation in 2009 nearly the same as in 2008

Billionaire Steve Wynn's compensation as chief executive of Wynn Resorts Ltd. stayed nearly the same in 2009 compared with 2008 as the casino operator struggled in Las Vegas and worked on its newest resort in Macau.

Wynn was paid $8.39 million in 2009, down less than 1 percent from his compensation of $8.45 million in 2008, according to an Associated Press analysis of a regulatory filing.

Wynn's pay package included $2.95 million in salary, a $4.06 million cash bonus and $1.37 million in perks, mostly for personal use of a company aircraft, Wynn Resorts reported in a proxy statement with the Securities and Exchange Commission.

Wynn was granted no stock or options in 2009. His perks included $60,036 toward a medical plan, $29,718 in life insurance premiums, $62,240 in merchandise discounts, $7,350 in retirement plan contributions and $12,806 for personal use of a car and driver.

The company's board of directors requires the CEO to travel in company vehicles for security purposes, Wynn Resorts said.

As of March 1, Wynn held a nearly 9 percent stake, more than 11 million shares, in Wynn Resorts.

Western Alliance Bancorp taps president and operating chief

Western Alliance Bancorporation on Monday announced the appointment of Kenneth Vecchione as president and chief operating officer.

Robert Sarver, chairman and chief executive officer, previously held the title of president. The Las Vegas-based holding company decided to create the chief operating officer position because of potential growth opportunities and the need to split CEO and COO roles, Sarver said.

Vecchione, a director at Western Alliance since 2007, previously was chief financial officer of Apollo Global Management, a private equity firm with $51 billion in assets under management. Prior to that, he was vice chairman and chief financial officer of MBNA Corp.

The $5.8 billion-asset bank holding company owns Bank of Nevada and other banks in Arizona and California.

IGT plans to place 1,000 new slots in South Africa

International Game Technology has signed a contract to place 1,000 slot machines in 20 casinos throughout South Africa operated by Sun International Ltd.

The games are primarily Megabucks-style machines and installation is expected to be complete by August.

IGT Africa Managing Director Dirk Greere said the Reno-based company is looking for additional opportunities in the region.

The value of the contract was not released, but Roth Capital Partners gaming analyst Todd Eilers cautioned investors that new contracts are probably going to have a lower value because of the current economic constraints. Eilers estimated the deal could add $15 million in annual revenue to IGT.

The slot machine deal could also lead to an opportunity for IGT to sell Sun International a new casino management system. Eilers said Sun is looking to award a new corporatewide systems contract this year for the company's more than 11,500 slot machines across its casinos. He estimated that deal could be worth $40 million.

Executive earns $125,000 bonus for leading Pinnacle

Pinnacle Entertainment's temporary chief executive officer earned a $125,000 bonus for his five-month stewardship of the Las Vegas-based regional casino operator.

The company's board of directors announced the award to John Giovenco in a filing with the Securities and Exchange Commission late Friday.

Giovenco, the former president of Hilton Gaming, took over Pinnacle in November following the resignation of former CEO Dan Lee, who stepped down from the company after a public dispute with a St. Louis election official.

Giovenco was replaced by last month by new CEO Anthony Sanfilippo, a former Harrah's Entertainment executive. Giovenco remains as a member of the board of directors.

During Giovenco's tenure, Pinnacle opened a new $380 million casino in suburban St. Louis and made plans to close a riverboat casino in the city's downtown market by this summer.

Also, the company scaled back plans for a second hotel-casino in Lake Charles, La., turning this project into an expansion of its L'Auberge du Lac resort. Also, Pinnacle canceled a planned $2 billion development project in Atlantic City, putting its 26-acre Boardwalk location up for sale.

In addition to his bonus, Giovenco, according to a filing with the SEC, earned $75,000 a month as Pinnacle's CEO plus stock options.