Station Casinos Las Vegas President Fertitta Resigns To Work For UFC

Lorenzo FertittaStation Casinos’ Las Vegas president, Lorenzo Fertitta, resigns yesterday to work full time for the UFC.  Because of the rapidly growing popularity worldwide of the Ultimate Fighting Championship, the past president of a half a dozen Las Vegas casinos, will concentrate on the international business development for the multi-billion dollar mixed martial arts franchise.

A joint venture seven and a half years ago between Lorenzo, his brother, Frank III and Dana White purchased the then small time UFC for $2 million.  Since then fights have taken place in multi million state-of-the-art venues around the globe.

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Station Casinos Las Vegas Gaming Company Buyout Bid For $5.4 Billion

Station Casinos ExecsStation Casinos Las Vegas gaming company is accepting a buyout bid from Fertitta Colony Partners for $5.4 billion or $90 per share. This buyout also includes the repayment of $3.5 billion of debt, making the total real estate deal worth $8.8 billion.

While a private equity group involving the founding family has increased its offer to take Station Casinos private, industry analysts say a follow-up bid that might drive the price higher is unlikely to come.

Station has 30 business days remaining to solicit additional proposals from competing buyout bidders.

The current bid is being placed by a private equity partnership involving Los Angeles-based Colony Capital and Station Casinos Chairman and CEO Frank Fertitta III, Lorenzo Fertitta, president, and their sister, Delise Sartini, and Blake her husband.

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