Casino operator surprises employees by giving away $70M in stock to celebrate 50th anniversary
A Las Vegas casino operator has surprised employees by giving away $70 million in stock to celebrate its 50th anniversary.
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 to find themselves tens of thousands of dollars richer.
At the event, Red Rock Resorts Chairman and CEO Frank Fertitta III and Vice Chairman Lorenzo Fertitta announced that employees would receive $1,000 in Red Rock Resorts 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.
"This award reflects those values and recognizes the people who have brought them to life every day 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. Johnson 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.
"Our Team Members are at the heart of everything we do,” Lorenzo Fetitta said. "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."
Red Rock Resorts Class A stock was trading at $55.84 per share Friday afternoon. Employees will be able to receive their shares starting Monday.
Paula Barrett, a cocktail server at the company’s Palace Station Hotel & Casino, shared her reaction to the stock award with Fox5 Vegas: “Amazing, thankful, grateful, privileged.”
“Just a complete honor to receive that check,” said Barrett, who has 47 years of service at the company under her belt.
Barrett could have worked elsewhere over the years, but she said, “We’re all comfortable. This is home for us. We love it here. We love our management here.”
Station Casinos was ranked No. 415 out of 700 on Forbes list of America’s Best Large Employers 2026.
The company, which now operates 15 properties in the Las Vegas Valley, started in 1976 with Palace Station.
Palace Station was originally named “The casino in Las Vegas” and then relabeled “The Bingo Palace” before its current name was chosen in 1984, according to local outlet KLAS.
“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,” Frank Fertitta III said.
