The gifts aren’t exactly going away but when Station Casinos closes it’s deal to go private, we won’t be privy to the senior management’s compensation packages. As Michelle Leder’s footnoted.org noted, the filing was part of the hide-it-on-Friday-night dump at the Securities and Exchange Commission last week

There are some interesting numbers in Station’s amended 10-K. Among them are the life insurance packages for the Fertitta brothers. The company paid nearly $217,000 to buy Frank Fertitta III a $70 million life insurance policy. Lorenzo’s $35 million policy costnly $29,000. They say health insurance is rising but Station paid more than $40,000 each for the brothers’ health insurance. Other executives are enrolled in the Exec-U-Care Medical Plan but cost considrably less.

Total compensation for Frank ran nearly $12 million, including $7million in salary, bonus and perks and the rest in stock options. Some of those perks included over $100,000 in private use of the company jet and $570,000 in private security costs.

Lorenzo was paid just over $8 million in total compensation and departing CFO Glenn Christenson took home just over $4 million in 2006. Unlike other senior executives, the company does not pay for the Fertittas’ club membership and Chief Development Officer Scott Nielson was the only senior Station executive to benefit from company-paid fitness training. That cost nearly $12,000.