Lorenzo Fertitta
Lorenzo Fertitta | |
|---|---|
| Born | January 3, 1969 Las Vegas, Nevada, U.S. |
| Occupation(s) | Entrepreneur, philanthropist |
| Years active | 1991–present |
| Known for | Chairman of Fertitta Capital; former CEO of Ultimate Fighting Championship (UFC) |
Lorenzo Joseph Fertitta (born January 3, 1969) is a prominent American billionaire entrepreneur and philanthropist. He currently serves as chairman of Fertitta Capital, holds a directorship at Red Rock Resorts Inc, and previously acted as CEO of the Ultimate Fighting Championship.
Early life and education
Raised in Las Vegas, Nevada, Lorenzo and his brother Frank Fertitta III grew up after their father, Frank Fertitta Jr., relocated from Texas in 1960. Fertitta Jr. began his career as a dealer at the Stardust Casino before advancing to leadership positions at the Tropicana, Sahara, and Circus Circus casinos.
In 1976, recognizing a gap in casinos serving local residents, Fertitta Jr. launched The Casino on Sahara Boulevard, which was later renamed Bingo Palace and ultimately became Palace Station. He worked alongside his sons at Station Casinos, a company focused on casino development and operations, until his retirement in 1993. Up until his passing in 2009, Fertitta Jr. remained deeply involved in the family’s business ventures and charitable activities. Las Vegas mayor Oscar Goodman described him as "one of the most successful business persons in the history of Las Vegas."
Lorenzo Fertitta completed his high school education at Bishop Gorman High School in 1987. He received a Bachelor of Business Administration from the University of San Diego in 1991, where he was affiliated with the Sigma Pi fraternity. He subsequently earned an MBA from the Stern School of Business at New York University in 1993.
Fertitta Enterprises
Beginning in 1991, Fertitta assumed several leadership positions within Fertitta Enterprises, the family’s investment and entertainment company. He served as vice president from 1991 until 1993, then advanced to president and CEO from June 1993 through July 2000, managing a portfolio that included marketable securities and real estate holdings.
Station Casinos and Red Rock Resorts, Inc.
Lorenzo and Frank III initially joined Station Casinos under the guidance of their father, Frank Fertitta Jr. After his retirement in 1993, they spearheaded Station Casinos’ initial public offering that same year, generating $294 million and establishing themselves as principal shareholders and co-founders of Station Casinos Inc. The firm was taken private again in 2007 through a management-led leveraged buyout.
Following a lawsuit contesting its debt restructuring, Station Casinos filed for Chapter 11 bankruptcy protection on July 28, 2009. After a $240 million capital infusion, the company reemerged in June 2011 with a revised ownership structure that enabled the Fertittas to maintain full control.
On October 13, 2015, Red Rock Resorts, Inc. submitted an S-1 filing to relist Station Casinos through an IPO, positioning Red Rock Resorts as the holding entity owning part of Station Casinos. On April 26, 2016, Red Rock Resorts successfully raised $531.4 million by issuing 27.25 million shares under the ticker symbol "RRR," with Deutsche Bank Securities, J.P. Morgan, BofA Merrill Lynch, and Goldman Sachs serving as underwriters. The Fertitta family continues to hold equity in Red Rock Resorts Inc., and Lorenzo Fertitta was appointed Vice Chairman in January 2017.
In 2022, Fertitta was ordered to pay $8 million following a lawsuit by DJ Kaskade concerning unpaid fees related to a two-year performance contract at the Palms Casino nightclub KAOS.
Zuffa, LLC and Ultimate Fighting Championship
In 2001, Lorenzo Fertitta and his brother Frank III established Zuffa, LLC to purchase the Ultimate Fighting Championship (UFC) from Semaphore Entertainment Group for $2 million. Lorenzo assumed the roles of chairman and CEO, appointing his longtime friend Dana White as President. Zuffa managed UFC until its divestiture in August 2016.
During his tenure as CEO, Fertitta worked closely with athletic commissions in New Jersey, Nevada, California, and Mohegan Sun to create standardized MMA regulations. Under his leadership, UFC expanded its reach to all 50 states in the U.S. and secured broadcasting in more than 150 countries worldwide. There are roughly 135 UFC-branded fitness centers operating across North America and Australia.
In January 2005, UFC entered into a broadcasting agreement with Viacom’s Spike cable channel that lasted until 2011. Subsequently, on August 18, 2011, UFC inked a seven-year television rights contract valued at $813 million with Fox Broadcasting Company, encompassing Fox’s primary network, FX, Fuel TV, and Fox Deportes.
Fertitta also collaborated with New York Governor Andrew Cuomo to legalize MMA within the state—a move anticipated to contribute over $32 million annually to New York’s economy. The inaugural UFC event at Madison Square Garden, UFC 205, broke venue records by generating $17.7 million in live gate revenue.
In July 2016, Zuffa and the Fertitta brothers sold their stakes in UFC for an estimated $4 billion to WME-IMG, led by Ari Emanuel and Patrick Whitesell, with private equity firms Silver Lake Partners and Kohlberg Kravis Roberts (KKR) participating in the acquisition. Following the transaction, Lorenzo Fertitta resigned from his CEO position.
Fertitta Capital
Founded on May 1, 2017, Fertitta Capital is a private investment firm initially funded with a $500 million seed investment from Lorenzo and Frank Fertitta III. The firm maintains a permanent capital base and targets investments across various stages of business development and capital structures within consumer-focused technology, media, and entertainment sectors. Nakisa Bidarian, previously UFC’s CFO, acts as CEO and co-founder and manages capital deployment activities.
Philanthropy
Fertitta’s charitable efforts emphasize education and veteran support. In 2016, the Fertitta family contributed $10 million to UNLV for constructing a 73,000-square-foot facility named The Fertitta Football Complex. They also provide support to veterans through donations to organizations such as the Lone Survivor Foundation, Fisher House, and Intrepid Fallen Heroes Fund.
That same year, Lorenzo and Frank III launched the Fertitta Veterans Program at NYU Stern School of Business to offer scholarships and a dedicated six-week summer curriculum for military veterans pursuing full-time MBA degrees.
Within Las Vegas, Fertitta actively supports local charities including Nathan Adelson Hospice, Catholic Charities of Southern Nevada, the Lou Ruvo Center for Brain Health, and Three Square—an organization combating food insecurity.
Political activity
Lorenzo Fertitta is a third cousin of entrepreneur Tilman Fertitta. He and his wife are significant contributors to the Republican Party, donating over $9.7 million between 2009 and 2020—ranking them among Nevada’s top political donors. Together they contributed $721,200 to Donald Trump’s 2020 presidential campaign.
Personal life
Fertitta resides in Las Vegas alongside his wife Teresa and their three children. He is the owner of the 87-meter yacht named Lonian, as well as its accompanying 66-meter support craft called Hodor.
Memberships
- Past Chairman of the Nevada Resort Association
- Former Member of the Nevada State Athletic Commission from 1996 to 2000
- Previous Board Member of the American Gaming Association
- Ex-Advisory Board Member at Nevada First Bank
- Former President and CEO of the Gordon Biersch Brewing Company
- Director at Station Casinos LLC and Station Holdco LLC
- Vice Chairman of Red Rock Resorts, Inc.