Station Casinos awards $70 million in stock to nearly 10,000 workers
To mark its 50th anniversary, Station Casinos gave about 10,000 full- and part-time employees $1,000 in Red Rock Resorts Class A shares for each year of service, totaling over $70 million.
Station Casinos celebrated its half-century milestone by granting eligible employees $1,000 in Red Rock Resorts Class A stock for every year of service, creating a pool worth over $70 million for nearly 10,000 workers. The award, presented by chairman and CEO Frank Fertitta III and Vice Chairman Lorenzo Fertitta, applies to all staff on the designated date, whether full-time or part-time. Veterans of the company received the largest payouts, with Ida Johnson, who joined in 1977, receiving $49,000 in shares, and several others from the 1970s earning more than $45,000 each.
The Fertitta brothers framed the initiative as a means to give employees a stake in the business they help run. Station Casinos, which operates 14 properties across the Las Vegas Valley, joins other large employers such as Bank of America, Apple, Samsung and Fibrebond Corp. in offering equity bonuses to rank-and-file staff.
Why it matters
The stock grant turns thousands of casino workers into shareholders, signaling a shift toward employee ownership in the hospitality sector.
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