Las Vegas Casino Leaders Challenge Overcharging Allegations
Casino bosses in Las Vegas are firmly rejecting claims of overcharging and concerns about the city's affordability, stating they 'don't like' that narrative. At a community forum on Wednesday evening, leaders from major casinos, including Plaza, Circa, and El Cortez, discussed economic forces shaping the city, adamantly denying reports of decline.
Defending the City's Evolution
Joe Woody, chair of the Downtown Vegas Alliance and CFO of El Cortez, opened the forum by addressing media coverage. 'There's a lot of social media and news media that we thought was overreporting the overcharging and prices and affordability of Las Vegas in general,' Woody said, as reported by the Las Vegas Review-Journal. 'And we didn't like that message.' He highlighted 'remarkable' growth at El Cortez, partly due to a $20 million expansion, attracting wealthier players.
Plaza CEO Jonathan Jossel argued that negative reports lack context, noting it's 'hard to compare' current tourism to post-COVID 'record growth.' He referenced recent earnings calls showing 'tremendous' visits and spending, adding, 'There's an expression that trees don't grow to the sky. And so, while things may not be as good as they were 12 to 24 months ago, it's still pretty good.'
Economic Divisions and Visitor Trends
Jeff Victor, vice president of operations for Circa, pointed to a 'K-shaped economy,' where wealthy Americans sustain spending while poorer consumers pull back. Data from Moody’s Analytics and Bank of America Institute supports this, with high-income households driving spending growth. 'We've been watching this for several years now, where the rich are getting richer and the poor are getting poorer,' Victor said, noting Circa's success with affluent customers.
Despite optimism, the Las Vegas Convention and Visitors Authority confirmed a 7.5% drop in visitors to 38.5 million in 2025, with declines continuing into 2026. Jossel remained positive, citing downtown's appeal to both regulars and newcomers. 'We can make guests feel pretty special downtown,' he said. 'And, ultimately, we can repeat that time and time again.'
Future Outlook for Las Vegas
Casino executives express confidence in downtown Las Vegas's future, despite high prices and shaky reports. Jossel emphasized the area's unique history, stating, 'It's an authentic experience. You can't recreate the history of downtown Las Vegas.' They believe the city is evolving rather than dying, with a focus on maintaining success through diverse visitor engagement.
