Station Casinos Awards Workers $70 Million in Stock for 50th Anniversary

Station Casinos awarded nearly 10,000 employees more than $70 million in Red Rock Resorts stock on Sept. 9, granting $1,000 in Class A shares for every year of service.

The payout is nearly as much as the company earned in its most recent quarter. Red Rock Resorts, the operator's publicly traded parent, reported net income of $76.6 million for the three months to June 30, down 29.3% from a year earlier.

Workers employed as of Sept. 9 qualify.

Tenure Decides the Size of Each Grant

The formula rewards longevity rather than rank. Ida Johnson, hired in 1977, received $49,000 in stock, the largest individual award the company disclosed.

Seven employees who started in the 1970s at the Bingo Palace, the property that later became Palace Station, each received more than $45,000 in equity.

Chairman and Chief Executive Frank Fertitta III and Vice Chairman Lorenzo Fertitta announced the grants at Red Rock Casino Resort & Spa, closing an anniversary campaign that opened on July 1.

This $70 million award is more than a recognition of their contributions, it is an investment in our nearly 10,000 Team Members.

Lorenzo Fertitta said that in the company's announcement. Their father founded the company on taking care of staff, Frank Fertitta III said in the same release.

Profits Slide as a Union Fight Drags On

The grant lands while the core business cools. Net revenues fell 3.0% to $510.3 million in the second quarter of 2026, and adjusted EBITDA, a measure of operating earnings, dropped 9.3% to $208.0 million.

Las Vegas neighborhood casinos are absorbing a softer local economy, after visitor spending fell $4.3 billion in 2025 even as Nevada gaming revenue set a record.

The Culinary Union has pressed Station Casinos for contracts for years and listed the campaign among its 2026 priorities, saying workers there are "still fighting for a fair contract". The company's announcement did not mention the dispute.

Shares reach team members on Sept. 14. The release did not set out vesting conditions, holding periods or tax withholding.

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