Las Vegas tourism has hit a record low, with just 3.1 million visitors in June, down 11.3% from last year. However, Circa Resort & Casino CEO Derek Stevens believes the assessment may be premature.
According to Stevens, some data points indicate that the industry is not as bad as it seems. Gaming revenues were $1.33 billion, a 3.5% increase from June 2024, and Nevada gaming control board reports show mixed results across different sectors.
Stevens attributes the decline in tourism to international visitors, particularly Canadians, who are missing the trip this year due to economic concerns. The US Travel Association warned that Canadian travel could drop by 10%, resulting in 2 million fewer visits.
However, Stevens notes that Circa has found success with its sports-oriented events, including UFC fights and fantasy football drafts. Other Vegas properties, such as Sphere’s entertainment events and musical concerts this summer, are also staying afloat.
Despite the uncertainty, Stevens predicts that the industry will recover in six months, citing trade agreements that will provide stability.
Source: https://www.foxnews.com/travel/vegas-casino-owner-fires-back-exaggerated-claims-sin-citys-demise