Lorenzo Fertitta facts for kids

Quick facts for kids Lorenzo Fertitta
Fertitta in 2014
Born	Lorenzo Joseph Fertitta (1969-01-03) January 3, 1969 (age 56) Las Vegas, Nevada, U.S.
Alma mater	University of San Diego (BBA) Stern School of Business (MBA)
Occupation	Businessman
Spouse(s)	Teresa Fertitta
Children	3
Parent(s)	Frank Fertitta Jr. (father)
Relatives	Frank Fertitta III (brother) Tilman Fertitta (cousin)

Lorenzo Joseph Fertitta (born January 3, 1969) is a very successful American businessman and someone who gives a lot to charity. He is the chairman of Fertitta Capital and a director at Red Rock Resorts Inc. He used to be the main boss (CEO) of the Ultimate Fighting Championship (UFC).

Early Life and School

Lorenzo and his older brother, Frank Fertitta III, grew up in Las Vegas, Nevada. Their father, Frank Fertitta Jr., moved there in 1960. Their dad started as a dealer at the Stardust Casino. He then worked his way up to managing other big casinos like the Tropicana and Sahara.

In 1976, Lorenzo's father noticed that no casinos were really made for the people who lived in Las Vegas. So, he built a small casino called The Casino. It later became known as Bingo Palace and then Palace Station.

Lorenzo's father worked with his sons at Station Casinos, a company that builds and runs casinos in the U.S. He retired in 1993 but kept helping with other family businesses and charity work. The mayor of Las Vegas once called him "one of the most successful business persons in the history of Las Vegas."

Lorenzo went to Bishop Gorman High School in Las Vegas and finished in 1987. He then studied business at the University of San Diego, graduating in 1991. Later, he earned a master's degree in business (an MBA) from New York University in 1993.

Career Highlights

Family Business: Fertitta Enterprises

Since 1991, Lorenzo Fertitta has held important jobs at Fertitta Enterprises. This is a family company that invests money and works in entertainment. He was a vice president from 1991 to 1993. Then, he became the president and CEO from 1993 to 2000. In these roles, he managed the family's investments in stocks and properties.

Growing Station Casinos

Lorenzo and his brother Frank III worked for their father at Station Casinos while they were in high school and college. After their father retired in 1993, Lorenzo and Frank III helped Station Casinos become a public company. This means they sold shares of the company to the public for the first time, raising $294 million. They became major owners and co-founders of Station Casinos Inc.

In 2007, the company was bought back by its owners, making it a private company again. Later, in 2009, Station Casinos had to file for bankruptcy. This happened because of a lawsuit and financial challenges. However, with new investments, the Fertitta family was able to keep full control of the company.

In 2015, Station Casinos decided to become a public company again under a new name, Red Rock Resorts, Inc. They raised over $531 million by selling shares. The Fertitta family still owns a part of Red Rock Resorts Inc. Lorenzo Fertitta became the Vice Chairman of the company in 2017.

Building the UFC

In 2001, Lorenzo and his brother Frank III started a company called Zuffa, LLC. They bought the Ultimate Fighting Championship (UFC) for $2 million. The UFC is a company that promotes mixed martial arts (MMA) fights. Lorenzo Fertitta became the chairman and CEO of the UFC. He also made his childhood friend, Dana White, the president of the organization. Zuffa, LLC ran the UFC until it was sold in 2016.

As the leader of the UFC, Lorenzo worked to create clear rules for MMA competitions. He worked with sports commissions in different states to make sure the sport was safe and fair. Today, MMA fights happen in all 50 U.S. states and are shown in over 150 countries. There are also many UFC-branded gyms around the world.

In 2005, the UFC made a deal to show its fights on the Spike cable channel. Later, in 2011, the UFC signed a big seven-year deal with Fox Broadcasting Company. This deal was worth $813 million and allowed UFC fights to be shown on Fox's main channel and other sports channels.

Lorenzo also worked with the Governor of New York, Andrew Cuomo, to make MMA legal in New York State. This was a big step that was expected to bring a lot of money to New York's economy. In 2016, MMA became legal in New York. The UFC then held a huge event at Madison Square Garden, which set a record for ticket sales at that venue.

In July 2016, Lorenzo and his brother sold their shares in the UFC for about $4 billion. They sold it to a sports and entertainment company called WME-IMG. After the sale, Lorenzo Fertitta stepped down from his role as CEO.

Fertitta Capital Investments

On May 1, 2017, Lorenzo and Frank Fertitta III started a new private investment company called Fertitta Capital. They put $500 million into the company to start it. This company invests in businesses that deal directly with customers, especially in technology, media, and entertainment. The former CFO of UFC, Nakisa Bidarian, leads Fertitta Capital as its CEO.

Helping Others: Philanthropy

Lorenzo Fertitta supports many good causes. He has given money to his old high school, Bishop Gorman. He also supports the University of Nevada, Las Vegas (UNLV). In 2016, the Fertitta family gave $10 million to UNLV to build a large football training facility. It is now called The Fertitta Football Complex.

He also helps military veterans and active-duty students. He has given money to groups like the Lone Survivor Foundation, the Fisher House Foundation, and the Intrepid Fallen Heroes Fund. These groups help military families who have lost loved ones or have members who were seriously injured while serving the United States.

In 2016, Lorenzo and Frank III started the Fertitta Veterans Program at New York University Stern School of Business. This program helps U.S. military veterans go to business school. It gives scholarships and special classes to help them get ready for their studies and future careers.

Lorenzo also supports local charities in Las Vegas. These include the Nathan Adelson Hospice, Catholic Charities of Southern Nevada, the Lou Ruvo Center for Brain Health, and Three Square. Three Square is a charity that works to provide healthy food to people who need it.

Political Involvement

Lorenzo Fertitta and his wife are big supporters of the Republican Party and its candidates. They have given a lot of money to political campaigns over the years. This makes them some of the largest political donors in Nevada. For example, they contributed to Donald Trump's 2020 presidential campaign.

Personal Life

Lorenzo Fertitta lives in Las Vegas, Nevada, with his wife Teresa and their three children. He owns a large yacht called Lonian and a support vessel named Hodor.

Memberships and Roles

• Former Chairman of the Nevada Resort Association
• Former Member of the Nevada State Athletic Commission (1996 to 2000)
• Former Board Member with the American Gaming Association
• Former Advisory Board Member of Nevada First Bank
• Former President and chief executive officer of Gordon Biersch Brewing Company
• Director of Station Casinos LLC
• Director of Station Holdco LLC
• Vice Chairman of Red Rock Resorts, Inc.

See also

In Spanish: Lorenzo Fertitta para niños