Casino Operator Surprises Employees by Giving Away $70 Million in Stock



Some of the longest-serving Station Casinos employees were left in awe Wednesday when they arrived at a surprise event at the operator’s Red Rock Casino Resort & Spa in Las Vegas to find themselves tens of thousands of dollars richer. At the event, Red Rock Resort Chairman and CEO Frank Fertitta III and Vice Chairman Lorenzo Fertitta announced that employees would receive $1,000 in Red Rock Resort's Class A stock for each year they worked for the company. "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 said in a statement. He went on to say that the award reflects those values and recognizes the people who have worked for them for the past 50 years. Nearly 10,000 full-time and part-time employees received a stock award, including Ida Johnson, who has been with the company since 1977. She received an eye-watering $49,000 worth of stock. In total, seven employees who started at the company in the 1970s each received more than $45,000 worth of stock. Red Rock Resort's Class A stock was trading at $55.84 per share Friday afternoon. Employees will be able to receive their shares starting Monday.