- Joined
- Oct 10, 2015
- Messages
- 207
- Reaction score
- 9
The Fertitta family was one of the earliest families in the rise of Las Vegas, and they own a large chunk of the casinos on the strip.
Their family has operated as true capitalists, with little regard to ethics and morality, Frank and Lorenzo's grandfather took over the Maceo mafia organization back in the 50's.
Their father Frank Fertitta Jr. was the founder of Station Casinos. He has been recorded in the past via wiretap that he was running an illegal skimming operation. When he was recorded about the operation, he was kicked out and Frank's son's Lorenzo and Frank III were given the reigns over the operation. Frank Jr. has since died from heart problems.
Their holding company owns 45% of 18 las vegas casinos.
Reports are the Fertitta brothers made 870 million dollars each (post-tax) for the sale of the UFC, and will also still retain 16% of the company as part of the deal - 8% each.
They want to continue acquiring more, and hope to buy an NFL team in the future.
Are you ok with them making so much money and having so much wealth compared to the people they employ, fighters included. One could argue without their initial investment, the UFC would not be what it is today, and when they purchased the company originally, they had no guarantee that it would succeed. Since they took the risk, maybe most of the reward should be theirs?
Their family has operated as true capitalists, with little regard to ethics and morality, Frank and Lorenzo's grandfather took over the Maceo mafia organization back in the 50's.
Their father Frank Fertitta Jr. was the founder of Station Casinos. He has been recorded in the past via wiretap that he was running an illegal skimming operation. When he was recorded about the operation, he was kicked out and Frank's son's Lorenzo and Frank III were given the reigns over the operation. Frank Jr. has since died from heart problems.
Their holding company owns 45% of 18 las vegas casinos.
Reports are the Fertitta brothers made 870 million dollars each (post-tax) for the sale of the UFC, and will also still retain 16% of the company as part of the deal - 8% each.
They want to continue acquiring more, and hope to buy an NFL team in the future.
Are you ok with them making so much money and having so much wealth compared to the people they employ, fighters included. One could argue without their initial investment, the UFC would not be what it is today, and when they purchased the company originally, they had no guarantee that it would succeed. Since they took the risk, maybe most of the reward should be theirs?
