Las Vegas Casino Boss Challenges Claims of Tourism Downturn

New travel stats for Las Vegas have 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 Stevens says 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 Authority reports 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 Stevens said 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 Board said gaming revenue hit $1.33 billion in June — up 3.5% from last year. Stevens pointed out that 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 Airport saw 4.1% less passenger traffic than last year.

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

Stevens pointed to fewer international tourists from Canada, as a factor that has an impact on the situation. The US Travel Association has 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, Stevens stressed that others are doing well because of event-driven crowds. At Circa, sports events have been a big attraction, from UFC fight weekends to 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. Stevens felt 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.