Station Casinos awards $70 million in stock to employees

To mark its 50th anniversary, Station Casinos has awarded nearly 10,000 full- and part-time employees more than $70 million in company stock. Under the program, eligible employees receive $1,000 in Red Rock Resorts Class A stock for every year of service.

Red Rock Resorts executives Frank Fertitta III and Lorenzo Fertitta announced the initiative to encourage employee ownership. Long-tenured staff members, some dating back to the 1970s, received significant equity awards, with some individual payouts exceeding $45,000.