Station Casinos executives forgoing salaries during coronavirus impact
Station Casinos Chairman and CEO Frank Fertitta III and Vice Chairman Lorenzo Fertitta will be forgoing their salaries for the duration of the COVID-19 pandemic, according to a Monday news release.
According to the company’s latest proxy statement, which was filed in April 2019, Frank Fertitta III had an annual base salary of $1 million in 2018.
The two join a growing list of company executives who are halting pay amid the outbreak.
Other gaming company executives, including those at MGM Resorts International, Scientific Games, Wynn, William Hill and Everi, also are forgoing all or portions of their salaries during the pandemic, or in some cases the rest of the year.
Station Casinos’ statement also said the company has contributed $1 million to the COVID-19 Emergency Response Fund to purchase personal protective equipment and critical medical supplies — including test kits — for first responders and health care professionals in Nevada.
“In this time of profound crisis, nothing is more important to us than the health and wellbeing of our team members, guests and the entire Las Vegas community,” Station Casinos President Richard Haskins said in the statement. “To that end, we are honored to provide this contribution to assist those serving on the front lines in the fight against COVID-19, and are deeply grateful for their tireless efforts to serve and protect all Nevadans in these unprecedented and difficult times.”
The company is also offering regular pay and health benefits to all hourly and salaried full-time team members through April 30, and it has moved several hundred part-time employees to full-time status so that they can receive full benefits.
Contact Bailey Schulz at bschulz@reviewjournal.com or 702-383-0233. Follow @bailey_schulz on Twitter.
