Executives from prominent casinos in downtown Las Vegas have reported that business remains robust, expressing cautious optimism about the future despite uncertainties related to changing travel habits, a widening economic divide, and increasing costs in the city.
During a forum held on Wednesday by the Downtown Vegas Alliance, leaders from Plaza, Circa, El Cortez, and the Fremont Street Experience shared insights on gaming trends, visitor behaviors, and economic challenges, as noted by the Las Vegas Review-Journal.
Cliff Atkinson, the newly appointed CEO of the Fremont Street Experience and former President of Virgin Hotels Las Vegas, acknowledged the economic challenges facing downtown Las Vegas. “I have faith in the resilience of this city. Looking ahead to 2027 and 2028, we are reinventing ourselves, which is what this city is best known for,” he remarked.
Throughout much of 2025, declining tourism rates and rising costs, particularly on the Strip, have been prevalent in the news. Joe Woody, Chair of the Downtown Vegas Alliance and CFO of El Cortez, indicated that the forum aimed to counteract these negative perceptions. “There’s a lot of social media and news coverage that we believe is overstating the issues of pricing and affordability in Las Vegas,” he stated.
Jonathan Jossel, CEO of Plaza, warned that the post-pandemic surge in growth could skew current trend perceptions: “Many casino operators are facing challenges when comparing to the record growth seen in 2022 and 2023. It’s a difficult comparison.” He added, “There’s a saying that trees don’t grow to the sky. While things may not be as favorable as they were 12 to 24 months ago, the situation remains positive.”
Jossel highlighted that overall visitor numbers and gaming expenditures are still strong, reflecting sentiments echoed by larger Strip operators regarding the health of the Las Vegas market.
Jeff Victor, Vice President of Operations for Circa Hospitality Group, which oversees Circa, The D, and Golden Gate casinos, emphasized the impact of the city’s emerging “K-shaped economy,” where wealthier visitors are thriving while lower-income guests are struggling. “We’ve been observing this trend for several years, where the affluent are becoming wealthier, and the less fortunate are facing hardships,” he explained. “Circa has performed well, but those below the 9 percent income line are feeling the strain.”
Woody described the past six months at El Cortez as “remarkable,” attributing the success to a $20 million expansion and renovation project, which has drawn both loyal customers and new, upscale visitors from the Strip and beyond.
Executives credited the ongoing appeal of downtown to its diverse offerings, including lower minimum bets, shorter distances to walk, and more personal interactions with staff. “One of the things I frequently hear is about the relationships people build here,” Jossel noted. “Whether it’s meeting Kenny [Epstein at El Cortez] or Derek [Stevens at Circa], visitors enjoy coming downtown, connecting with individuals, and feeling a sense of relationship.”
Jossel also stated that downtown casinos can provide a more meaningful customer experience compared to many Strip resorts, fostering a personalized and repeatable guest journey.
Despite the economic and tourism hurdles, the panelists conveyed confidence in the resilience of downtown Las Vegas. Atkinson emphasized the area’s unique authenticity, stating, “It’s an authentic experience. The history of downtown Las Vegas cannot be replicated.”