Circa Resort & Casino in downtown Las Vegas is owned by brothers Derek and Greg Stevens, who financed and developed the roughly $1 billion property privately and hold it through their company Circa Hospitality Group LLC.1Club One. Club One Rules and Regulations The brothers, originally from the Detroit area, opened Circa in late 2020, making it the first ground-up resort built near Fremont Street in more than 40 years.
Who Derek and Greg Stevens Are
Derek Stevens is the public face of Circa. Before entering the gaming industry, he ran a family manufacturing business in Michigan that supplied parts to the auto industry. He’s known for wandering the casino floor, buying rounds for guests, and promoting the property through social media and sports partnerships.
Greg Stevens keeps a lower profile but holds equal importance as co-owner and business partner, handling much of the financial and operational infrastructure behind the scenes. Both brothers had to clear the personal background checks, financial audits, and suitability findings Nevada requires of individual casino operators. Nevada law allows the state to require individual licensing of any member, director, or manager of an LLC licensee who has a material relationship to gaming operations, and if any individual is found unsuitable, the LLC has 30 days to end that person’s association with the company.2Nevada Legislature. Nevada Revised Statutes Chapter 463 – Licensing and Control of Gaming
Private Ownership, Not Corporate
The Stevens brothers funded Circa through private financing rather than going public or selling to a larger gaming corporation, which is increasingly rare for a project of this scale. In 2019, they secured a syndicated credit facility with Western Alliance Bank participating, and Western Alliance later led the refinance of $420 million in senior secured credit facilities in 2021.3Western Alliance Bancorporation. Circa Hospitality Group No publicly traded parent company sits above Circa Hospitality Group. The brothers are the owners, full stop.
The Rest of Their Downtown Portfolio
Circa isn’t the only Fremont Street property the Stevens brothers own. Two others sit under the same ownership and feed into the same loyalty program.
The D Las Vegas sits on the eastern end of the Fremont Street Experience. The brothers acquired it years before Circa and put it through substantial renovations to modernize the gaming floor and dining options. It served as a proving ground for the management style they later brought to Circa.
The Golden Gate Hotel & Casino is the oldest casino in downtown Las Vegas, tracing its roots back to 1906 when it first opened as Hotel Nevada.4Golden Gate Hotel & Casino. Our Story It draws visitors interested in old-school Vegas character, while Circa caters to a younger, sports-oriented crowd.
All three properties participate in Club One, a shared loyalty rewards program run through Circa Hospitality Group LLC.1Club One. Club One Rules and Regulations Members earn and redeem rewards across Circa, The D, and Golden Gate, keeping guest spending inside the Stevens brothers’ ecosystem.
Circa Sports
The ownership also extends beyond physical property through Circa Sports, the brothers’ branded mobile sports betting platform. As of 2026, the app is legally available in Nevada, Colorado, Illinois, Iowa, and Kentucky. The sportsbook operation inside the resort and through the app is a core part of the business, not a side venture, and it operates under the same ownership that controls the three downtown casinos.
What That Means for a Guest
Because Circa is privately held by two owners with a visible, hands-on style, decisions at the property reflect their preferences directly rather than passing through a corporate chain. The clearest example is the 21-and-over policy that applies across the entire resort, including hotel rooms, restaurants, bars, and the pool deck, with valid ID required at every entry point.5Circa Resort & Casino. Welcome to Circa Resort and Casino Las Vegas – Guest Guide Circa is the only resort-casino in Las Vegas that enforces that policy property-wide. Most Las Vegas casinos restrict only the gaming floor to adults.