Station Casinos Awards More Than $70 Million In Stock To Employees

Station Casinos will award more than $70 million worth of Red Rock Resorts Class A stock to almost 10,000 employees as part of celebrations marking the company's 50th anniversary.

Full- and part-time employees working for the company as of 9 September will receive $1,000 in stock for every year of service, with the awards becoming available from 14 September. The initiative was announced during a surprise event at Red Rock Casino Resort & Spa attended by approximately 700 employees.

Workers had not been told in advance that the anniversary event would include a financial award.

Employees To Receive $1,000 In Stock For Every Year Of Service

Seven employees who joined Station Casinos during the 1970s were recognised during the event, with each receiving more than $45,000 in equity. Ida Johnson, who began working for the company in 1977, will receive $49,000 worth of Red Rock Resorts stock.

Frank Fertitta III, Chairman and CEO of Red Rock Resorts, said the initiative reflected principles established by his father when the company was founded.

“Our father founded this company on a few simple principles: serve the local community, deliver great value, and most importantly, take care of our Team Members,” Fertitta said.

“This award reflects those values and recognizes the people who have brought them to life every day for the past 50 years. As we celebrate this milestone and look ahead to the next 50 years, we are grateful for everything our Team Members have done to make Station Casinos the local favorite.”

Lorenzo Fertitta, Vice Chairman of Red Rock Resorts, said employees had played a central role in establishing the company's relationship with the Las Vegas community.

“This $70 million award is more than a recognition of their contributions; it is an investment in our nearly 10,000 team members, whose dedication and commitment we are deeply thankful for,” he said.

Fertitta Brothers Extend Award To Entire Workforce

The Fertitta brothers initially considered recognising only Station Casinos' longest-serving employees before deciding to extend the stock award across the workforce.

“We got together, and we said, ‘Look, it’s the 50th anniversary. It’s a big deal. We want to celebrate the right way,’” Lorenzo Fertitta told the Las Vegas Review-Journal.

“Eventually, we just decided to recognize everybody, even if they’ve only been working for us for a day.”

Frank Fertitta added:

“The team members are the reason that this company has been so successful in this city. And we wanted to do something incredibly special that would really make a difference in their lives for all the years of service that they’ve given the company.”

Station Casinos Celebrates 50 Years In Las Vegas

Station Casinos traces its history to The Casino and Bingo Palace and has since expanded to seven neighbourhood casinos alongside 16 smaller properties operating under the Wildfire brand. The company is also developing its Seventy Six Taverns concept.

Its 50th anniversary celebrations began at Palace Station on 1 July and have included live entertainment, commemorative gaming and food and beverage promotions, employee events and community volunteering initiatives.

“Our father built Station Casinos around taking care of people, and that has never changed,” Lorenzo Fertitta said. “Our team members have grown with us and helped shape who we are. We are proud to recognize them and give them the opportunity to share in the company’s future.”