Vegas casino owner fires back at 'exaggerated' claims of Sin City's demise
Even as reports indicate Las Vegas tourism is down overall, Circa Resort & Casino CEO Derek Stevens told Fox News Digital in an interview that the assessment may be "premature." (See the video at the top of this article.)
Only 3.1 million people visited Sin City in June, down 11.3% compared to last year, according to the Las Vegas Convention and Visitors Authority (LVCVA).
"I think some of the data in Las Vegas indicates that some of these stories are a bit exaggerated," said Stevens. "The June gaming numbers were just released and not everything is terrible."
The Nevada Gaming Control Board (NGB) announced that on a statewide level, gaming revenues were $1.33 billion, which is a 3.5% increase from June 2024.
"In specific pockets, like where we at Circa Las Vegas are located in downtown — I think people feel there's maybe a little better value. Things were really booming," said Stevens.
He added, "If you really start unpeeling some layers of the onion in Las Vegas, I think you're going to find companies that have very specific areas that are a little less subject to the economy and that are doing OK."
Stevens said he's spoken with other Las Vegas casino CEOs and said across the industry, there's a "mixed bag" of opinions regarding the current state of tourism.
"[The] high end is a little less impacted by the economy, and then there are others that are doing well as well," he said.
"On the other side, there's definitely some pretty significant concern about … flights [into the city]."
The Harry Reid Airport has shown a decline, dropping 4.1% compared to the same time last year, according to the website.
"Clearly, [there are] some concerns with regard to international tourism," said Stevens.
"I think that's something that you see in any heavily, heavily visited area, whether it's San Francisco, Hawaii, Southern California, Las Vegas, Florida," he added.
"I think everyone is in a position where you can say we're missing some of our Canadian friends who aren't visiting this year," he also said.
Nevada is among the top five most visited states by Canadians, according to the U.S. Travel Association.
"We're missing some of our Canadian friends who aren't visiting this year."
The association warned that the United States could see a 10% reduction in Canadian travel, which is about 2 million fewer visits, according to recent reports.
Stevens said he believes the lack of international visitors right now may be due to the overall global economy and exchange rates.
Stevens said Circa has found a niche by being "very sports-oriented," with the resort and casino drawing in crowds for recent events.
"UFC has been terrific those particular weekends," he said, referencing the Ultimate Fighting Championship, headquartered in Vegas.
"[The] fights have been great. Now we're getting into really a boom time of both groups coming for fantasy football drafts, as well as people coming to sign up for our world's largest football contest in Circus Survivor and Circa Millions."
Other Vegas properties associated with attractions, said Stevens, are also keeping afloat, such as entertainment events at Sphere and musical concerts this summer.
"I think some properties may be feeling it more than others, but I think that's something you're going to see in any type of tourist destination … It doesn't mean that every sector is necessarily down."
Amid some uncertainty, he said the industry has come to the realization that the economy has slowed a bit.
"I think in six months, I would believe that Vegas tourism and our economy overall will be in a much better place," predicted Stevens.
He noted the finalization of trade agreements will provide stability and "set the table going forward."
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