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48-409: Construction began in 2000, after American Nevada partnered with Station Casinos, which would co-own and operate the property. Green Valley Ranch opened on December 18, 2001, with 201 rooms and a 50,000 sq ft (4,600 m) casino. While a locals casino , the resort was designed with an upscale element. Built at a cost of $ 300 million, it was Station's most expensive resort up to that point, and

96-731: A 73,000-square-foot football facility that will be named The Fertitta Football Complex. Fertitta is a supporter of veterans and active duty students, having made contributions to the Lone Survivor Foundation , the Fisher House and the Intrepid Fallen Heroes Fund , which provide support for the families of military personnel lost or severely wounded in service to the United States. On November 11, 2016, Lorenzo and Frank III established

144-460: A Mediterranean theme. It was Station's most expensive and upscale resort ever, and the most expensive locals casino in Las Vegas history. It included features such as a presidential suite and a high-limit gaming area. The company's prior resorts were known for cheap amenities, although Green Valley Ranch would also continue such offerings, including $ 5 blackjack and penny slot machines. The resort

192-555: A dealer at the Stardust Casino before graduating to management positions at the Tropicana , Sahara and Circus Circus casinos. In 1976, after observing that no casinos effectively catered to the city's residents, Fertitta Jr. built The Casino, a 5,000-square-foot establishment on Sahara Blvd. The Casino would be renamed Bingo Palace before it eventually became Palace Station . Fertitta Jr. worked at Station Casinos ,

240-417: A developer and casino operator in the U.S, alongside his sons until retiring in 1993. Until his death in 2009, Fertitta Jr. remained active in other family business ventures, community service and philanthropic efforts, with Las Vegas Mayor Oscar Goodman referring to Fertitta Jr. as "one of the most successful business persons in the history of Las Vegas." Fertitta graduated from Bishop Gorman High School ,

288-520: A disgruntled general manager who was fired in November 2009. Station said that he threatened to go public with false allegations in an attempt to extort money from the company. GV Ranch Station Inc. – a Station subsidiary which managed the resort – filed for bankruptcy in February 2010. The resort itself did not file and continued operations. GCR filed a complaint and alleged that the bankruptcy filing

336-506: A fireworks show. It opened on schedule despite poor economic conditions brought on by the September 11 attacks . The resort employed 2,000 people, including roughly 400 who had been laid off from other resorts. Brian Greenspun, head of The Greenspun Corporation , said the opening date was not ideal but "on the other hand, we're putting all of these (laid off) people back to work, and you've got to open sometime". Green Valley Ranch features

384-673: A new ownership structure that allowed the Fertittas to retain full control. On October 13, 2015, Red Rock Resorts, Inc. filed an S-1 registration statement with the SEC to take Station Casinos public again through an initial public offering (IPO), creating a holding company for the organization, known as Red Rock Resorts, Inc., which owns a portion of the Station Casinos entity. On April 26, 2016, Red Rock Resorts, Inc. raised $ 531.4 million in an IPO that priced 27.25 million shares under

432-1203: A private Catholic prep school in Las Vegas, Nevada, in 1987. He earned a Bachelor of Business Administration from the University of San Diego in 1991 where he was a member of Sigma Pi fraternity. He earned an MBA from the Stern School of Business at New York University in 1993. Since 1991, Fertitta occupied various executive positions within Fertitta Enterprises, a family investment office and entertainment company. He served as vice president from 1991 to 1993, before becoming president and CEO from June 1993 to July 2000. In these roles, Fertitta managed an investment portfolio consisting of marketable securities and real property. Throughout their time in high school and college, Lorenzo and Frank III worked for their father, Frank Fertitta Jr., at Station Casinos. After Fertitta Jr. retired in 1993, Lorenzo and Frank III led Station Casinos to its first IPO that same year, raising $ 294 million and becoming principal shareholders and co-founders of Station Casinos Inc. in

480-450: A record for live gate receipts at the venue, drawing $ 17.7 million. In July 2016, Zuffa , LLC and the brothers announced the sale of their shares in UFC for an estimated $ 4 billion to WME-IMG , a sports and entertainment talent representation firm led by Ari Emanuel and Patrick Whitesell . Private equity firms Silver Lake Partners and Kohlberg Kravis Roberts (KKR) were also a part of

528-500: A sports-themed restaurant, and a 500-seat buffet. It also had a food court with six fast-food eateries. Other features included a 10-screen Regal Cinemas theater, and 11,000 sq ft (1,000 m) of convention space. The resort also included the Whiskey Sky nightclub, which occupied interior space and an outdoor pool area. It was operated by Midnight Oil Company , marking its fifth location nationwide. The outdoor portion

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576-520: A subsidiary of American Nevada. The two announced their partnership in March 2000, and the resort would include 200 hotel rooms, the minimum number required for a non-restricted gaming license . It would be the smallest of Station's local resort properties. Construction began around August 2000, with Perini Building Company as the general contractor . By April 2001, the resort's estimated cost had increased to $ 300 million, up approximately $ 30 million from

624-433: A year earlier. The increase was attributed to design changes involving additional convention space and higher-end hotel rooms. The construction of an underground parking facility also cost more than initially expected. Both companies contributed $ 50 million, and a bank group provided $ 165 million to the project. Various equipment was leased for $ 35 million. Green Valley Ranch opened at 9:30 p.m. on December 18, 2001, following

672-524: The house advantage and the payout percentage on slot and video poker machines is increased; locals casinos are well known for offering more full-pay video poker machines, and even machines that pay more than 100%. Locals casinos will typically offer comps , such as free meals at the casino's restaurants, at a higher rate than tourist-oriented casinos. Additionally, many locals casinos have promotions such as payroll check cashing, frequently accompanied by some type of free play bonus, to get patrons into

720-530: The Fertitta Veterans Program at New York University Stern , a full-time MBA program designed to support U.S. military veterans' transition to business school. As part of the program, 20 full-time MBA military students receive scholarship support and participate in a six-week, six-credit summer term that facilitates their transition to the academic and professional communities. In addition, Fertitta supports local Las Vegas charities including

768-632: The Green Valley Ranch for $ 500 million, with an option for the Greenspuns to maintain an ownership stake. Unsecured creditors challenged the sale, believing that the purchase price was too low. Nevertheless, the sale was approved in June 2011, with Station taking over full ownership. The Original Pancake House closed at the end of 2011, after its lease expired. A 400-seat bingo hall was added in 2013. A $ 20 million renovation began in 2014, and

816-698: The Nathan Adelson Hospice, Catholic Charities of Southern Nevada, the Lou Ruvo Center for Brain Health and Three Square, a charity focused on providing wholesome food to those in need. He is third-cousin to fellow entrepreneur Tilman Fertitta . Lorenzo and his wife are major donors to the Republican Party and Republican candidates, having given more than $ 9,700,000 from 2009 to 2020, making him, along with his brother, one of

864-641: The area. Lorenzo Fertitta Lorenzo Joseph Fertitta (born January 3, 1969) is an American billionaire businessman and philanthropist. He is chairman of Fertitta Capital, director of Red Rock Resorts Inc, and former CEO of the Ultimate Fighting Championship . Lorenzo and his older brother Frank Fertitta III were raised in Las Vegas , Nevada , after their father, Frank Fertitta Jr. , moved there from Texas with his wife Victoria ( née Broussard) in 1960. Fertitta Jr. became

912-466: The assets of Ultimate Fighting Championship (UFC), a mixed martial arts promotion and live event provider, from Semaphore Entertainment Group for $ 2 million. Lorenzo Fertitta assumed positions as chairman and CEO of UFC, while appointing childhood friend Dana White as President of the organization. Zuffa, LLC operated the UFC until its sale in August 2016. As Chairman and CEO of UFC, Fertitta worked with

960-493: The athletic commissions of New Jersey, Nevada, California and Mohegan Sun to establish a unified rule set for MMA competitions. The sport operates in all 50 U.S. states and is broadcast to more than 150 countries. Approximately 135 UFC-branded gyms operate in North America and Australia. In January 2005, UFC entered a deal to broadcast televised content on Viacom Inc.'s Spike cable channel, an agreement that ran until

1008-556: The casino. In Nevada , this is usually expanded with special promotions to cash tax refund checks from the Internal Revenue Service . Locals casinos often act as community centers and frequently include non-gambling entertainment such as bowling alleys , movie theaters , ice skating rinks and child care centers. The revenue of locals casinos in Clark County, Nevada , is normally calculated by taking

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1056-617: The casinos owned and operated by Boyd Gaming , and all or most of those owned and operated by Station Casinos . In order to attract residents to gamble , locals casinos try to differentiate themselves from tourist-oriented casinos to benefit gamblers. For example, locals casinos usually have a different mix of games or offer games not typically found in tourist-oriented casinos in the area, such as bingo . Additionally, they offer table games with lower minimum bets, as well as lower denomination slot machines and video poker . In addition, table games rules are frequently adjusted to decrease

1104-469: The completion of the nearby beltway. In September 1999, American Nevada and Station Casinos were in negotiations to partner on the future resort project. The two companies had previously partnered on a small casino and microbrewery in Henderson. The Greenspun family would provide the property for the resort, while Station would develop and operate it. Station would co-own the project with GCR Gaming LLC,

1152-410: The deal. Upon completion of the transaction, Lorenzo Fertitta stepped down from his role as CEO. On May 1, 2017, Fertitta Capital, a private investment firm, was launched with an initial seed investment of $ 500 million from Lorenzo and Frank Fertitta III. The firm has a permanent capital base and invests throughout a business's lifecycle and across the capital structure in consumer-facing companies in

1200-512: The effects of the Great Recession . A dispute emerged between GCR Gaming and Station Casinos at the end of the year. GCR believed that Station had been involved in a "long-running scheme" to divert customers from the Green Valley Ranch to other properties that were fully owned by Station. GCR sought to have Station removed as manager, but did not intend to buy out its interest in the resort. Station said that GCR's allegations originated from

1248-741: The end of 2011. On August 18, 2011, UFC and Fox Broadcasting Company announced a seven-year, $ 813 million television rights deal that spanned Fox's flagship channel, its cable channel FX, and other stations including Fuel TV and Fox Deportes. As CEO of UFC, Fertitta worked with Governor of New York Andrew Cuomo to regulate MMA in the state, an initiative projected to yield more than $ 32 million in economic activity for New York's economy each year. Governor Cuomo signed legislation authorizing competitive mixed martial arts in New York State on April 14, 2016, with UFC hosting its first show at Madison Square Garden , UFC 205, later that year. The event set

1296-540: The end of the year. It included 296 hotel rooms, built on the property's north side, in between a parking garage and the pool area. The project brought the room count to 497, and also added more meeting space. The spa was also enlarged, and three high-end suites were added in an effort to attract high rollers from the Las Vegas Strip. The expansion cost $ 115 million, and began opening in January 2005. A poker room

1344-523: The largest contributors in Nevada. Together with his spouse, Fertitta contributed $ 721,200 to Donald Trump 's 2020 presidential campaign . Fertitta resides in Las Vegas, Nevada, with his wife Teresa and three children. Fertitta as owner of the Palms Casino nightclub KAOS lost an $ 8 million lawsuit in 2022 brought by DJ Kaskade for nonpayment of his two-year performance contract. Fertitta owns

1392-410: The most expensive locals casino in Las Vegas history. The resort includes various restaurants, a Regal Cinemas movie theater, and a spa. American Nevada's mixed-use project opened on adjacent property in 2004, as The District at Green Valley Ranch . A hotel expansion opened in 2005, increasing the room count to 497. Station took over full ownership of the resort in June 2011. The resort was built in

1440-479: The neighborhood of Green Valley Ranch , located within the city of Henderson, Nevada . The Green Valley Ranch area was developed by American Nevada Corporation , a company owned by the Greenspun family . American Nevada received city approval to build a resort in 1996. In addition to a hotel and casino, the project plans also included restaurant, retail, medical, and office space. American Nevada planned to develop

1488-998: The original, was opened in 2005. A music venue, the Grand Events Center, opened in December 2004. Another venue, the Ovation Lounge, opened in May 2007, with seating for 500 people. It often featured free shows. The Sin City Sinners began performing regularly at Ovation starting in 2009. A year later, the resort was named "casino of the year" by the Academy of Country Music , for its hosting of country musicians, including Blake Shelton , Lady Antebellum , Montgomery Gentry and Toby Keith . Other notable entertainers have included The Fixx , Julio Iglesias , Asia , and Michael Grimm . Ovation closed in November 2012, and

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1536-468: The process. Station Casinos was then taken private in 2007 in a management-led leveraged buyout. On February 2, 2009, Station Casinos declared plans to file for bankruptcy . The filing came in response to a lawsuit that challenged the gaming company's debt swap and prepackaged bankruptcy proposal. Station Casinos filed for Chapter 11 bankruptcy on July 28, 2009 and, with a subsequent reinvestment of $ 240 million, emerged from this process in June 2011 with

1584-522: The project with a joint partner. The project would take 10 to 15 years to fully build out, and construction was not scheduled to begin for at least two years, pending the completion of the adjacent Las Vegas Beltway . The beltway made the property a desirable location for a resort. Some nearby homeowners opposed the project, concerned about the impact it could have on the area, although the company alleviated most concerns after holding more than 30 meetings with residents. American Nevada assured homeowners that

1632-412: The project would be an upscale resort and a benefit to the community. The company had planned for a 250-foot-high hotel tower, allowing for more property which would be used as scenic landscaping. However, the tower was scaled down to 80 feet after residents complained about the height. The project took years to materialize as it went through the design process, while American Nevada simultaneously awaited

1680-682: The revenue of Clark County and subtracting the revenue of the four tourist areas ( the Strip , Downtown , Laughlin , and Mesquite ). This is the only realistic calculation available, since the Nevada Gaming Commission does not provide more detail. However, this calculation will include some properties like Gold Strike , Hoover Dam Lodge , Primm Valley Resorts and all the various casinos in Laughlin and Mesquite as "locals casinos" even though they have many guests who are visiting

1728-597: The technology, media and entertainment sectors. Nakisa Bidarian, former CFO of UFC, will lead Fertitta Capital as CEO and co-founder and be responsible for the deployment of the Firm's capital. Fertitta's philanthropic efforts include supporting his high school alma mater, Bishop Gorman, as well as the University of Nevada, Las Vegas (UNLV). In September 2016, the Fertitta family made a $ 10 million donation to UNLV to fund

1776-604: The ticker symbol "RRR". Deutsche Bank Securities, J.P Morgan, BofA Merrill Lynch and Goldman Sachs & Co were among the underwriters for the offering. The Fertitta family continues to own a stake in Red Rock Resorts Inc. In January 2017, Fertitta was named Vice Chairman. Fertitta as owner of the Palms Casino nightclub KAOS lost an $ 8 million lawsuit in 2022 brought by DJ Kaskade for nonpayment of his two-year performance contract. In 2001, Lorenzo, along with his brother Frank III, established Zuffa, LLC to acquire

1824-503: The typical hallmarks of locals casinos. Locals casinos can range from locations with fewer than 15 machines such as supermarkets , convenience stores , gas stations , bars or lounges with no lodging, to resorts that have hundreds of machines and hotels with hundreds of rooms. Larger locals casinos in the Las Vegas Valley include the M Resort , South Point , Silverton , the two Arizona Charlie's casinos, all or most of

1872-549: The union. Station was disappointed with the result and "the manner in which the union conducted the Green Valley Ranch election campaign". The company filed a complaint with the National Labor Relations Board , alleging that the union forced employees to vote in favor of unionization. The Culinary union ultimately prevailed. By 2020, the resort had renovated its Presidential Suite, which had not be rented out for nearly 10 years. The resort's wedding chapel

1920-496: Was added later that year. The expansion also included several new restaurants, such as Hank's Fine Steaks & Martinis, a steakhouse named after Hank Greenspun . Phase three of the expansion project opened in October 2006, adding additional restaurants and a new parking garage. The resort's pool area is popular among local residents and has hosted pool parties going back to 2005. Station Casinos filed for bankruptcy in 2009, due to

1968-492: Was also converted into a suite. In mid-2023, the casino added a new bar as part of a revamping of its amenities, scheduled to conclude in early 2024. The project will also include new restaurants in the former buffet space and add new high-limit gaming areas. American Nevada's mixed-use project, The District at Green Valley Ranch , opened its first phase in 2004, directly east of the resort. It includes retail, restaurants, office space, and condominiums. A second phase, just east of

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2016-417: Was described by its general manager as a "value-priced luxury hotel". Station president Lorenzo Fertitta described the upscale design as "the next step in the evolution of our company". The resort was targeted at local residents, particularly those over the age of 55. The design was made to appeal to higher-end residents living in nearby communities such as Anthem and Seven Hills . Another target demographic

2064-416: Was done in an effort to block attempts to remove Station as manager. In response, Station said, "We are extremely disappointed that the Greenspuns have joined the fray of out-of-the-money constituents seeking to bring merit-less lawsuits in connection with our bankruptcy proceedings". Meanwhile, bondholders for Station were opposed to loans that the company had been making to the managing subsidiary. The money

2112-607: Was expected to conclude the next year. It included several new restaurants such as Pizza Rock, as well as a keno lounge, and a new LED sign along the Las Vegas Beltway. The former Whiskey Sky space, which had only been used for corporate events in recent years, was replaced with meeting space and a business center in 2017. In November 2017, employees voted for unionization through the Culinary Workers Union . Out of 730 workers, 78 percent voted in favor of

2160-543: Was known as Whiskey Beach, and it included a spa, a restaurant, tennis and bocce ball courts, and a three-acre vineyard . Wine is not produced from the vineyard, which was added only for atmosphere. The casino's Drop Bar was designed by Michael Czysz , and was operated by Rande Gerber , who also owned Whiskey Sky. In January 2003, Green Valley Ranch became the first locals casino in the Las Vegas Valley to receive an AAA Four Diamond Award . An expansion began at

2208-914: Was replaced by the bingo hall. Locals casino A locals casino is a casino designed primarily to attract residents of the area in which it was built rather than tourists or vacationers. The term is most commonly associated with casinos in Nevada , United States, to distinguish them from casinos that target mostly tourists in a central area. Locals casinos tend to operate under slightly different business models than those frequented by tourists, most notably having lower house advantages . Locals casinos may also have amenities to appeal to tourists, such as lodging, truck parking, and expanded dining options. Many traditional tourist casinos have tried to appeal to locals, sometimes offering more generous comps for local residents, and providing community-oriented amenities such as shopping options and movie theaters that are

2256-563: Was tourists, and the hotel offered a 24-hour limousine shuttle service to take them to the Las Vegas Strip . The 50,000 sq ft (4,600 m) casino had more than 2,500 slot machines, 53 table games, and a sportsbook . The hotel included 201 rooms, and due to popular demand, design plans were underway for a second tower offering another 200. The property had enough acreage to support 600 rooms in total. The resort had seven main restaurants, including The Original Pancake House ,

2304-432: Was used to keep the resort operational, although bondholders considered the loans risky. A settlement between GCR and Station was announced in May 2010, and the two companies hoped to restructure the resort's debt, which amounted to more than $ 770 million. Station Casinos LLC was formed to buy back most bankrupt assets from the original Station Casinos Inc. In March 2011, the newly formed company announced an agreement to buy

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