In celebration of its 50th anniversary, Station Casinos is set to distribute over $70 million in Red Rock Resorts Class A stock to nearly 10,000 employees, both full-time and part-time.
Employees who have been with the company as of September 9 will receive $1,000 in stock for each year of service, with the stock grants becoming available starting September 14.
This generous announcement was made during a surprise event at the Red Rock Casino Resort & Spa, attended by around 700 employees, who were unaware of the impending rewards.
Frank Fertitta III, Chairman and CEO of Red Rock Resorts, emphasized the company's foundational principles: serving the local community, providing exceptional value, and prioritizing the well-being of team members. He stated, “This award embodies those values and honors the individuals who have brought them to life over the past five decades.”
During the ceremony, seven employees who joined the company in the 1970s were specially acknowledged. Ida Johnson, who started in 1977, received stock valued at $49,000, while the other six employees were awarded over $45,000 each.
Lorenzo Fertitta, Vice Chairman of Red Rock Resorts, highlighted the importance of team members, saying, “For 50 years, they have built enduring relationships with our guests and fostered connections within the Las Vegas community.” He further noted that this $70 million award is not just a token of appreciation but a significant investment in the workforce.
The Fertitta brothers shared that the concept for this award emerged as they contemplated the best way to honor employees for the milestone anniversary. Initially, they thought of recognizing only the longest-serving staff but eventually decided to include everyone, regardless of their tenure.
“The team members are the reason for our success in this city,” Frank Fertitta remarked, expressing their desire to create a meaningful impact in their employees' lives.
Station Casinos, which began with The Casino and Bingo Palace, has expanded to include seven neighborhood casinos and 16 smaller establishments under the Wildfire brand. The company is also launching a new tavern concept called Seventy Six Taverns.
Lorenzo Fertitta concluded by reiterating their commitment to their team, stating, “Our father built Station Casinos on the principle of caring for people, and that remains unchanged. We are proud to recognize our team members and allow them to share in the company’s future.”
The 50th anniversary celebrations kicked off on July 1 at Palace Station, marking the company's origins. The anniversary festivities featured live entertainment, special gaming and dining options, employee appreciation events, and community volunteer initiatives.