Las Vegas Casino Boss Challenges Claims of Tourism Downturn

Circa Resort & Casino CEO Derek Stevens argued that claims of declining interest in visiting Las Vegas do not apply across the board, describing the broader “Vegas is dying” narrative as overstatedImage Source: Shutterstock.com

New travel stats for Las Vegashave sparked talks about the city’s economic health, with some people saying the city’s best days are over. However, Circa Resort & Casino CEO Derek Stevenssays these claims miss important details in today’s market.

Las Vegas Faces a Drop in Visitors, but Not All Casinos Feel the Hit

The Las Vegas Convention and Visitors Authorityreports that 3.1 million people visited the city in June, which is 11.3% less than the same month last year. This has led some to think that fewer people want to visit. Yet Stevenssaid this is not true for all parts of the industry, calling the wider “Vegas is dying” story an exaggeration, reported Fox News.

Statewide gaming numbers back up his claim somewhat. The Nevada Gaming Control Boardsaid gaming revenue hit $1.33 billion in June — up 3.5% from last year. Stevens pointed outthat some parts of the city, like downtown Las Vegas, where Circa operates, still pull in big crowds by offering what many think is more bang for your buck.

He called the mood among other casino bosses “mixed,”with fancy places feeling less of a pinch from financial troubles, while other spots face bigger hurdles. One concern is fewer people flying in: Harry Reid International Airportsaw 4.1% less passenger traffic than last year.

Las Vegas Feels Impact of Fewer Canadian Tourists, But Major Events Fuel Growth

Stevenspointed to fewer international tourists from Canada, as a factor that has an impact on the situation. The US Travel Associationhas cautioned that Canadian visits might drop by about 10% this year, which could mean around two million fewer trips across the country. He linked this decrease to the world’s economic state and poor exchange rates.

While some resorts struggle, Stevensstressed that others are doing well because of event-driven crowds. At Circa, sports events have been a big attraction, from UFC fight weekendsto the upcoming rush of visitors to draft fantasy football teams and join the casino’s own big football contests.

Other big attractions in the city, like concerts and shows at the Sphere, are also helping keep a steady stream of visitors coming. Stevensfelt sure these things, plus possible improvements in trade and travel deals, would pave the way for better results in the coming months. He thought that by next year, both tourism and the broader Las Vegas economy would be on more solid ground.