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Lorenzo Fertitta
Born 1969
Residence Las Vegas, NV
United States
Alma mater *University of San Diego
Degree:Bachelor of Arts / Science
(1991)
* Stern School of Business -
(New York University)

Degree:Masters / MBA
(1993)
Occupation Vice-Chair ~ Station Casinos Inc
Chairman / CEO ~ Zuffa LLC
Co-Owner / Chair / CEO ~ UFC
Net worth US $ 900 million (est.) (2009)[1]
Spouse(s) Married
Children 3

Lorenzo Joseph Fertitta (born in 1969)[2] is an American businessman, casino executive, sports promoter and entrepreneur. Fertitta resides in Las Vegas with his wife and three children.

Contents

College education

Fertitta obtained a Bachelor of Arts/Science from the University of San Diego in 1991 and a MBA from the Stern School of Business at New York University in 1993.[3][4]

Career

Fertitta Enterprises

Since 1993, Fertitta has occupied various executive positions within Fertitta Enterprises. From 1991 to 1993, Fertitta served as vice president, before becoming president and chief executive officer, from June 1993 to July 2000, where he was responsible for managing an investment portfolio consisting of marketable securities and real property.[5][6]

Travelscape

Fertitta introduced friend and former college roommate Tom Breitling to Tim Poster, who went on to establish notable success as business partners in Las Vegas. Breitling and Poster made their initial bankroll from pioneering the internet travel agency market with Travelscape.com. Fertitta served as a director before the purchase and turnover of Travelscape to Expedia.com in 2000.[7]

Station Casinos

Fertitta is a principal shareholder and a co-founder of Station Casinos Inc. He served as a member on the board of directors from 1991 until gaining the position of Station's president in July 2000. On June 19, 2008, Fertitta stepped down as president to work full-time for Zuffa, LLC.[8]

On February 2, 2009, Station Casinos announced its plans to file for bankruptcy by April 15. Station's filing came in response to a lawsuit filed by an individual bondholder challenging the gaming company's debt swap and prepackaged bankruptcy proposal.[9] In July 2009, Station Casino's filed for Chapter 11 bankruptcy, however the Fertitta family is expected to make additional investments to maintain its ownership. [10]

Ultimate Fighting Championship

In 2001 he was contacted by his childhood friend Dana White about purchasing the Ultimate Fighting Championship. He quickly took the opportunity, making the purchase a month later. Zuffa was immediately co-founded with brother Frank Fertitta III to establish an entity to manage the assets of the newly acquired Mixed Martial Arts promotion organization. Thereafter, White became president of company, and received 10 percent of the company's shares. In March 2007, Zuffa acquired the World Extreme Cagefighting (UFC's sister promotion), and Pride Fighting Championships.[11]

Other notable positions and affiliations

  • Chairman of the Nevada Resort Association
  • Former Advisory Board Member of Nevada First Bank

References

  1. ^ http://www.forbes.com/lists/2008/10/billionaires08_Lorenzo-Fertitta_WFT4.html
  2. ^ http://www.forbes.com/lists/2008/10/billionaires08_Lorenzo-Fertitta_WFT4.htm
  3. ^ http://w4.stern.nyu.edu/alumni/news.cfm?doc_id=7350
  4. ^ http://w4.stern.nyu.edu/sternbusiness/spring_2008/publicOfferings.html
  5. ^ http://sec.edgar-online.com/1999/07/14/15/0001047469-99-027455/Section11.asp
  6. ^ http://investing.businessweek.com/research/stocks/private/person.asp?personId=656262
  7. ^ http://www.hotel-online.com/News/PR2001_4th/Oct01_TBreitling.html
  8. ^ http://www.secinfo.com/dRqWm.51zz4.c.html
  9. ^ http://www.hotelsmag.com/articleXML/LN943741236.html?nid=3457&rid=2040560596
  10. ^ http://www.bloomberg.com/apps/news?pid=20601103&sid=ac4S_5jCdJIo
  11. ^ http://money.cnn.com/2006/11/07/magazines/business2/stationcasinos.biz2/index.htm?postversion=2006110809

External links








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