Las Vegas Casino Executive Responds to Tourism Decline Claims

Visitor Numbers in Las Vegas Decline, but Impact Varies Across Casinos

Recent reports on Las Vegas tourism have stirred concerns about the city’s economic prospects, with some suggesting that its peak popularity may be fading. However, Derek Stevens, CEO of Circa Resort & Casino, argues that these assumptions overlook key market details.

Data from the Las Vegas Convention and Visitors Authority shows that visitor numbers dropped to 3.1 million in June, marking an 11.3% decrease compared to the previous year. While this has led to speculation about a downturn, Stevens highlights that not all sectors of the casino industry are experiencing the same effects, cautioning against the notion that Las Vegas is in decline.

Supporting this perspective, the Nevada Gaming Control Board reported a 3.5% increase in statewide gaming revenue for June, reaching $1.33 billion. Stevens noted that certain areas such as downtown Las Vegas, where Circa operates, continue to attract large crowds by offering value that appeals to many visitors.

He described the sentiment among casino leaders as varied; upscale casinos tend to be less affected by economic challenges, whereas others encounter more significant difficulties. One shared concern is a reduction in air travel, with Harry Reid International Airport recording a 4.1% drop in passenger numbers compared to last year.

Reduced Canadian Tourist Visits Affect Las Vegas, While Major Events Drive Visitor Growth

Stevens identified a decline in visitors from Canada as a contributing factor, noting that the US Travel Association predicts a roughly 10% reduction in Canadian travel to the United States this year, equating to about two million fewer trips nationwide. This downturn is linked to global economic conditions and unfavorable exchange rates.

Despite challenges faced by some resorts, Stevens emphasized that others benefit from event-related tourism. Circa, for example, has drawn significant crowds through sporting events such as UFC fight weekends and upcoming fantasy football draft contests hosted by the casino.

Additionally, prominent entertainment venues like the Sphere continue to attract visitors with concerts and shows, helping sustain a steady flow of tourists. Stevens expressed optimism that these attractions, combined with potential improvements in trade and travel policies, will contribute to a stronger tourism sector and economic recovery in Las Vegas in the near future.

He anticipates that by next year, the tourism industry along with the wider Las Vegas economy will be more stable and poised for growth.