Station Casinos is celebrating five decades in Las Vegas by awarding more than $70 million in Red Rock Resorts stock to nearly 10,000 employees across its operations.
The surprise award was announced on September 9 during an anniversary event at Red Rock Casino Resort & Spa. Eligible full- and part-time employees who were with the company as of that date will receive Red Rock Resorts Class A shares valued at $1,000 for every year they have worked for Station Casinos.
Employees are expected to begin receiving their shares from September 14.
Long-serving workers receive major awards
The structure of the programme means some of Station Casinos’ longest-serving employees will receive substantial equity stakes.
Ida Johnson, who joined the company in 1977, is set to receive stock worth $49,000 after 49 years of service. Seven employees who began working for Station Casinos during the 1970s and remain with the company will each receive equity valued at more than $45,000.
The award was revealed by Red Rock Resorts chairman and CEO Frank Fertitta III and vice chairman Lorenzo Fertitta. The company described the distribution as recognition of employees who helped build its presence in the Las Vegas market during the past five decades.
Station Casinos said the initiative reflects the principles established by founder Frank Fertitta Jr., including a focus on the local community, value for customers and investment in the company’s workforce.
Anniversary programme concludes with employee award
The stock distribution concludes a wider programme marking Station Casinos’ 50th anniversary.
Celebrations began on July 1 at Palace Station, where the company started operating, with a fireworks and drone show alongside the introduction of a refreshed brand identity and a new campaign focused on its Las Vegas roots. Events continued through the summer with entertainment, special gaming and food promotions, employee activities and community volunteering initiatives.
Station Casinos now operates a portfolio of properties across the Las Vegas Valley, including Red Rock Casino Resort & Spa, Green Valley Ranch, Durango Casino & Resort, Palace Station, Boulder Station, Sunset Station and Santa Fe Station, as well as several Wildfire locations.
The operator is controlled through publicly traded parent Red Rock Resorts, whose Class A shares are being used for the anniversary award. The company positioned the programme not only as a bonus for past service but as a way to give thousands of employees a direct ownership interest in the business as Station Casinos enters its next 50 years.