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Station Casinos Announces $70 Million Employee Stock Bonus
By Drooid · · How we work
Station Casinos Announces $70 Million Employee Stock Bonus
At its 50th-anniversary celebration, Station Casinos revealed a profit-sharing program that will award each of its roughly 10,000 employees $1,000 of company stock for every year of service. The total value of the awards is projected at $70 million.
Founding History and 50-Year Milestone
The company traces its origins to 1976, when Frank Fertitta Jr. opened the flagship Bingo Palace in Las Vegas. Over five decades the business expanded into a network of resorts and casinos, now operating under the parent Red Rock Resorts. The recent bonus announcement coincided with the anniversary festivities at one of the company’s resorts.
Bonus Structure and Employee Tenure
- Eligibility: All current employees receive $1,000 of Station Casinos (Red Rock Resorts Class A) stock for each year on the payroll.
- Total Cost: Approximately $70 million in stock awards.
- Stock Value: Red Rock Resorts Class A shares trade at $54.49 each.
- Long-Term Employees: Seven staff members have logged 45 years or more; Ida Johnson, hired in 1977, received $49,000 worth of stock, which is expected to generate about $886 in annual dividends.
- Veteran Voices: Paula Barrett, with 47 years of service, described the check as “a complete honor.”
Company Leaders Emphasize Commitment to Staff
Frank Fertitta III highlighted that the bonus reflects the founding principles of serving the local community, delivering value, and prioritizing team members. His brother Lorenzo Fertitta framed the award as an investment in the nearly 10,000 employees whose dedication the company values. Both executives presented the program as a tangible expression of gratitude for long-standing employee loyalty.
Employee and Executive Remarks
- “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,” — Frank Fertitta III
- “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,” — Frank III’s
- “Just a complete honor to receive that check,” — Paula Barrett