Surprise award recognizes nearly 10,000 eligible team members with $1,000 in stock for every year of service

Red Rock Resorts-owned casino operator Station Casinos has marked the culmination of its 50th anniversary celebration by awarding more than $70 million in stock to its employees.

During a surprise ceremony at Red Rock Casino Resort & Spa late last week, Red Rock Resorts chairman and CEO Frank Fertitta III and Red Rock Resorts vice chairman Lorenzo Fertitta told team members that they will receive $1,000 in Red Rock Resorts Class A stock for every year of service.

Over $70 million of Red Rock Resorts stock has been awarded to nearly 10,000 eligible full- and part-time team members employed on September 9, the majority of which are based in Southern Nevada.

“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 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. 

In total, seven team members from the 1970’s who began their career at Bingo Palace and still work for the company today each received over $45,000 worth of equity in the company.  

“Our team members are at the heart of everything we do,” said Lorenzo Fertitta. “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.

“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.”

Shares in Red Rock Resorts Inc (NASDAQ:RRR) closed 1.21 per cent higher at $55.90 per share in New York Friday.