G2E Keynote: Wynn Resorts CEO Craig Billings – “I’m bullish on Las Vegas”
Billings and Circa owner Derek Stevens are encouraged by the situation in the US, despite international uncertainties.
The state of land-based gaming was reviewed at G2E 2022 this week, when Wynn Resorts CEO Craig Billings and CEO of Circa Resort & Casino, Derek Stevens, discussed all things Las Vegas.
The pair touched on everything from supplier shortages to the state of an NBA franchise in Sin City.
Both men expressed their delight at being part of Vegas’ rich land-based gaming history. Stevens commented: “When you see the history of how Caesars has evolved, how MGM Resorts has evolved, and for us how sports betting has evolved, we revere the history of Vegas and the history of gaming, so we’re just fortunate to be living in this time.”
Delving into the history of Las Vegas, Billings noted that gambling in Las Vegas has constantly evolved. He said: “With the opening of the Mirage (in 1989) it became about more upscale amenities, food and beverage, group and convention.” But now, he said, the focus has swiveled toward retail sportsbooks.
Billings, meanwhile, commented: “I’m bullish on Las Vegas. We’re not ignorant or immune to what’s going on in the broader macroeconomy. We’re less impacted by oil and inflation with our aspirational luxury customers, but probably more impacted by the financial markets.”
The duo both emphasize how strains on the financial markets, and in particular supply chains, had had a detrimental effect on land-based expansion or ventures. Stevens commented: “I would definitely be more conservative today than maybe what I was three years ago.”
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