Station Casinos marked its 50th anniversary Wednesday by announcing a stock award valued at more than $70 million for its nearly 10,000 full- and part-time team members.
During a surprise ceremony at Red Rock Casino Resort & Spa in Summerlin, Nevada, Red Rock Resorts Frank Fertitta III, chairman and CEO, and Lorenzo Fertitta, vice chairman of Red Rock Resorts, revealed to those employed as of September 9 they will receive $1,000 in Red Rock Resorts Class A stock for every year of service.
“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,” said Frank Fertitta III. “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.”
The award recognizes the contributions of nearly 10,000 Station Casinos team members, most of whom are based in Southern Nevada, and reflects the company’s longstanding commitment to its workforce. The celebration recognized some of the company’s longest tenured team members from the 1970’s including Ida Johnson, who began her career with the company in 1977 and received $49,000 worth of stock.
Seven team members from the 1970s who began their career at Bingo Palace and still work for the company each received more than $45,000 worth of equity in the company.
The stock grants total more than $70 million in Red Rock Resorts Class A stock, with team members able to receive their shares beginning September 14.
“Our team members are at the heart of everything we do. For 50 years, they have built lasting relationships with our guests and forged the connections to the Las Vegas community that define who we are,” said Lorenzo Fertitta. “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.”
The celebration also paid tribute to company founder Frank Fertitta Jr., Station Casinos’ history in Las Vegas, and team members who have helped shape the company over the past five decades. Station Casinos has been recognized by Forbes, Newsweek, Great Places to Work and Top Workplaces in surveys conducted by its own team members.
The company’s anniversary celebration launched July 1 at Palace Station with a fireworks and drone show, the debut of its new brand identity “From Vegas, For Vegas, Always Vegas” campaign.
