UFC owner Lorenzo Fertitta

By FCF Staff

UFC owners Lorenzo and Frank Fertitta, are inline to receive a massive payday, when Red Rock Resort sells shares for their once bankrupt, chain of casinos.

According to a report from the New York Post, the brothers are expected to earn around $500 million, when Red Rock Resort sells shares for the casino empire to the public (called an initial public offering – IPO). The Fertittas will continue to retain 40% of the casino chain’s shares (worth approximately $900 million), and will remain in control of the company.

Red Rock, previously named Station Casinos, went bankrupt in 2009 due to a reported debt of $6 billion dollars.