Fewer VIPs rolling into casinos in Macau means less money for Steve Wynn.

A recent filing with the U.S. Securities and Exchange Commission indicated that the Wynn Resorts founder and chief executive officer’s compensation dropped by at least 18 percent to $207 million in 2015, compared to the $254 million Wynn got two years ago.

According to the filing, the board cut Wynn’s incentive payout after the casino company’s adjusted earnings before interest, taxes, depreciation and amortization fell by at least a third last year.

Wynn’s annual incentive payout totaled to $17.5 million, and it was paid half in cash and the other half in shares due to the company’s financial status and the “competitive landscape of the labor market.” The billionaire businessman previously said that part of his incentive is tied to the soon-to-open Wynn Palace casino in Cotai.