After guiding the world's premiere mixed martial arts (MMA) promotion, Ultimate Fighting Championship (UFC), to a highly profitable year in 2015, top executives Lorenzo and Frank Fertitta are being forced to sit tight on a pending $460 million payday, while Deutsche Bank restricts the initial public offering (IPO) of Red Rock Casinos.
The delay, according to New York Post, is because of weakness in the stock market. Deutsche Bank holds a 25 percent stake in Red Rock, while the Fertitta's management company controls 57 percent of Station Casinos, which is now known as Red Rock.
Red Rock is attempting a buyout of the brothers' parent company, Fertitta Entertainment.
Red Rock's 21 casinos, which populate the Las Vegas area, were previously operated by Fertitta Entertainment, but will now be controlled by their own board of managers once all of the $460 million in IPO proceeds are collected.
It's a nice consolation prize for the Fertitta's after another disappointing year, which saw a New York City judge deny legislation that would legalize MMA in "The Big Apple."
In the meantime, the Fertittas continue to expand upon their new ZUFFA corporate headquarters, which includes a fantastic Ronda Rousey restaurant! Completion of the state-of-the-art, 180,000-square foot campus is expected to occur sometime in spring 2017.