Lorenzo Fertitta
Encyclopedia
Lorenzo Joseph Fertitta is an American businessman, casino
executive, sports promoter and entrepreneur
. Fertitta resides in Las Vegas
with his wife Teresa and three children.
in 1991 and a MBA
from the Stern School of Business at New York University
in 1993.
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
.
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. 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.
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 9 percent of the company's shares. In March 2007, Zuffa acquired the World Extreme Cagefighting
(UFC's sister promotion), and Pride Fighting Championships. The UFC recently announced that their former sister promotion, World Extreme Cagefighting
, will be absorbed by the Ultimate Fighting Championship
. On Monday March 14th 2011 Zuffa LLC officially announced that they purchased Strike Force LLC a rival MMA organization, and on August 18th, Zuffa LLC announced an 8 year partnership (rumored to be valued at $90 million per year) with Fox Broadcasting Company
.
Casino
In modern English, a casino is a facility which houses and accommodates certain types of gambling activities. Casinos are most commonly built near or combined with hotels, restaurants, retail shopping, cruise ships or other tourist attractions...
executive, sports promoter and entrepreneur
Entrepreneur
An entrepreneur is an owner or manager of a business enterprise who makes money through risk and initiative.The term was originally a loanword from French and was first defined by the Irish-French economist Richard Cantillon. Entrepreneur in English is a term applied to a person who is willing to...
. Fertitta resides in Las Vegas
Las Vegas, Nevada
Las Vegas is the most populous city in the U.S. state of Nevada and is also the county seat of Clark County, Nevada. Las Vegas is an internationally renowned major resort city for gambling, shopping, and fine dining. The city bills itself as The Entertainment Capital of the World, and is famous...
with his wife Teresa and three children.
Education
Fertitta obtained a Bachelor of Business Administration from the University of San DiegoUniversity of San Diego
The University of San Diego is a Roman Catholic university in San Diego, California. USD offers more than sixty bachelor's, master’s, and doctoral programs...
in 1991 and a MBA
Master of Business Administration
The Master of Business Administration is a :master's degree in business administration, which attracts people from a wide range of academic disciplines. The MBA designation originated in the United States, emerging from the late 19th century as the country industrialized and companies sought out...
from the Stern School of Business at New York University
New York University
New York University is a private, nonsectarian research university based in New York City. NYU's main campus is situated in the Greenwich Village section of Manhattan...
in 1993.
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.Station Casinos
Fertitta is a principal shareholder and a co-founder of Station CasinosStation Casinos
Station Casinos Inc. is a gaming company based in the Las Vegas suburb of Summerlin, Nevada, founded by Frank Fertitta Jr.Station Casinos along with Boyd Gaming, Cannery Casino Resorts, American Casino & Entertainment Properties, and Herbst Gaming, dominate the Locals market in Las Vegas.The...
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
Zuffa, LLC
Zuffa, LLC is an American sports promotion company specializing in mixed martial arts. It was founded in January 2001 in Las Vegas, Nevada by Station Casinos executives Frank Fertitta III and Lorenzo Fertitta to be the parent entity of the Ultimate Fighting Championship after they purchased it...
.
On February 2, 2009, Station Casinos announced its plans to file for bankruptcy
Bankruptcy
Bankruptcy is a legal status of an insolvent person or an organisation, that is, one that cannot repay the debts owed to creditors. In most jurisdictions bankruptcy is imposed by a court order, often initiated by the debtor....
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. 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.
Ultimate Fighting Championship
In 2001 he was contacted by his childhood friend Dana WhiteDana White
Dana White is the current President of the Ultimate Fighting Championship , a mixed martial arts organization based in the United States.- Biography :...
about purchasing the Ultimate Fighting Championship
Ultimate Fighting Championship
The Ultimate Fighting Championship is the largest mixed martial arts promotion company in the world that hosts most of the top-ranked fighters in the sport...
. He quickly took the opportunity, making the purchase a month later. Zuffa was immediately co-founded with brother Frank Fertitta III
Frank Fertitta III
Frank J. Fertitta III is current CEO of Station Casinos. He is also an owner of Zuffa LLC, which is the entity that runs the Ultimate Fighting Championship . Fertitta resides in Las Vegas with his wife Jill and three children.-Education:...
to establish an entity to manage the assets of the newly acquired Mixed Martial Arts
Mixed martial arts
Mixed Martial Arts is a full contact combat sport that allows the use of both striking and grappling techniques, both standing and on the ground, including boxing, wrestling, Brazilian jiu-jitsu, muay Thai, kickboxing, karate, judo and other styles. The roots of modern mixed martial arts can be...
promotion organization. Thereafter, White became president of company, and received 9 percent of the company's shares. In March 2007, Zuffa acquired the World Extreme Cagefighting
World Extreme Cagefighting
World Extreme Cagefighting was an American mixed martial arts promotion. It was purchased by Zuffa, LLC, the parent company of Ultimate Fighting Championship , in 2006. In its final incarnation, it was made up of 3 weight classes: 135, 145 and 155 lbs. To accommodate the smaller...
(UFC's sister promotion), and Pride Fighting Championships. The UFC recently announced that their former sister promotion, World Extreme Cagefighting
World Extreme Cagefighting
World Extreme Cagefighting was an American mixed martial arts promotion. It was purchased by Zuffa, LLC, the parent company of Ultimate Fighting Championship , in 2006. In its final incarnation, it was made up of 3 weight classes: 135, 145 and 155 lbs. To accommodate the smaller...
, will be absorbed by the Ultimate Fighting Championship
Ultimate Fighting Championship
The Ultimate Fighting Championship is the largest mixed martial arts promotion company in the world that hosts most of the top-ranked fighters in the sport...
. On Monday March 14th 2011 Zuffa LLC officially announced that they purchased Strike Force LLC a rival MMA organization, and on August 18th, Zuffa LLC announced an 8 year partnership (rumored to be valued at $90 million per year) with Fox Broadcasting Company
Fox Broadcasting Company
Fox Broadcasting Company, commonly referred to as Fox Network or simply Fox , is an American commercial broadcasting television network owned by Fox Entertainment Group, part of Rupert Murdoch's News Corporation. Launched on October 9, 1986, Fox was the highest-rated broadcast network in the...
.
Other notable positions and affiliations
- President and Chief Executive Officer of Gordon Biersch Brewing CompanyGordon Biersch Brewing CompanyGordon Biersch Brewery is an American brewery founded by Dan Gordon and Dean Biersch. Gordon, a graduate from the five-year brewing engineering program at Weihenstephan, Germany, and Biersch opened their first brewery restaurant in Palo Alto, California in July 1988...
- Chairman of the Nevada Resort Association
- Commissioner on the Nevada State Athletic Commission (November 1996 to July 2000)
- Former Advisory Board Member of Nevada First Bank
- Director on the American Gaming AssociationAmerican Gaming AssociationThe American Gaming Association is a United States gaming industry association.The AGA was founded in 1995 with the goal of promoting, educating and lobbying on behalf of the gaming entertainment industry through education and advocacy...