Tuesday, April 18, 2000 | 11:01 a.m.
Four members of the Fertitta family have made about $18 million from the sale of part of their holdings in Station Casinos Inc.
Frank Fertitta, Lorenzo Fertitta and Blake and Delise Sartini each sold about 225,000 shares, raising $6 million each, according to a filing Monday with the Securities and Exchange Commission. The Sartinis made sales from their joint holdings.
The sales were at share prices from $25 to $26.97 per share.
The sales represented 3.7 percent of Frank Fertitta's stake, 4.7 percent of Lorenzo Fertitta's stake and 4.2 percent of the Sartinis' holdings. Frank Fertitta is Station's president and chief executive; Lorenzo Fertitta is a director; Blake Sartini is executive vice president and chief operating officer and Delise Sartini is a director.
Glenn Christenson, chief financial officer of Station, said the sales were of shares held, rather than from the exercise of options.
"Many of those shares were bought on margin when the stock price declined 18 months ago," Christenson said.
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