Introduction
Red Rock Casino is a popular resort located in Las Vegas known for its luxurious amenities, beautiful location, and exceptional casino services. With over a decade of operation, it has become a go-to destination, not just for tourists, but also for locals. One area that often gets overlooked, however, is the casino’s ownership structure. Understanding the different parties involved in the ownership of Red Rock Casino can help visitors better understand the business they’re interacting with. In this article, we’ll delve deep into the complex ownership structure of Red Rock Casino to explore who really owns the resort.
Behind the Scenes of Red Rock Casino: Who Really Owns the Popular Las Vegas Resort?
There are various misconceptions as to who really owns Red Rock Casino. Some people believe that Station Casinos, a company that boasts more than 20 casinos throughout Las Vegas, is the sole owner of the resort. Although Station Casinos is indeed closely tied to Red Rock Casino, it is not the only stakeholder in the casino’s management.
In reality, Red Rock Casino is jointly owned by several different entities, including Station Casinos, the Fertitta family, and real estate investment trust, Gaming and Leisure Properties.
The Complex Ownership Structure of Red Rock Casino Exposed: A Closer Look
Getting a good look at Red Rock Casino’s ownership structure can be rather difficult as the structure is complicated in nature. Station Casinos and the Fertitta family each own stakes in the parent company, Red Rock Resorts, Inc. Gaming and Leisure Properties holds a leasehold interest in the underlying land and structures through a partnership with a subsidiary of Red Rock Resorts, Inc. Taking a closer look at the various entities involved can help us better understand the complex structure.
Red Rock Resorts, the holding company for Station Casinos, has two stock classes: Class A and Class B. Class A shares are publicly traded while Class B shares are owned by private investors. The Fertitta family owns all of the Class B shares.
From Brothers to Billionaires: The Fertitta Family’s Control of Red Rock Casino
The Fertitta family has a long history of success in the casino industry. They are a well-known and influential player in the Las Vegas casino market. With deep roots in the casino industry, brothers Frank Fertitta III and Lorenzo Fertitta have been controlling players in Red Rock Casino’s ownership since the beginning. They are estimated to hold a 44% voting stake in the resort’s parent company, giving them significant decision-making power.
Navigating the Corporate Web: A Guide to Understanding the Various Entities That Own Red Rock Casino
Understanding the different entities involved in the ownership of Red Rock Casino can be confusing without a guide. It’s important to know that Red Rock Resort’s parent company, Red Rock Resorts, owns both the resort and Station Casinos, making the latter an indirect owner. Another company, Fertitta Entertainment, owns shares in Red Rock Resorts through its subsidiary Frank Fertitta III LLC. Gaming and Leisure Properties owns the actual land and structures. All these entities have their own roles to play in the overall ownership structure, making it quite complex.
The Battle Over Red Rock Casino: A History of Ownership Disputes and Settlements
Over the years, Red Rock Casino has seen its share of ownership disputes and legal battles. One example was in 2017 when a lawsuit was filed against Station Casinos by several guests who claimed they were denied winnings on a blackjack promotion. Another dispute occurred in 2018, when Boyd Gaming claimed it had legal rights to manage the casino. These disputes can affect the resort’s overall reputation and may cause disruptions in service as they are settled.
Conclusion
Red Rock Casino’s complex ownership structure can be confusing, but it is important to understand who is in control of the resort. With multiple major players involved in the ownership, it is integral to understand how these entities operate and how they are affecting the resort’s management. Whether you’re a regular or a first-time visitor, understanding this ownership structure can help you navigate the casino better and give you a better idea of how this business operates.