Derek Stevens Circa Net Worth (2025): A Clear, Data-Driven Look

Curious about derek stevens circa net worth? You are not alone. Derek Stevens is the face of downtown Las Vegas’ revival, and Circa Resort & Casino is his signature bet on Fremont Street. People want a number. Here is the catch, there is no official figure. His companies are private, so there are no SEC filings, no public balance sheets, and no audited earnings to quote.

In 2025, I can still build a fair estimate using public clues and plain math. I will keep the assumptions conservative, spell out each step, and explain the logic in simple terms you can check. Circa opened in October 2020 and helped reshape downtown. That matters for value, and it frames the estimate.

Who Derek Stevens is and what he owns in Las Vegas

Quick bio and ownership snapshot

Derek Stevens is a Detroit-born investor, known for bold marketing, huge sports bets, and a fan-first style. He co-owns his companies with his brother, Greg. Together they operate several signature properties in downtown Las Vegas. Derek is the public face, and he is hands-on with events, sportsbooks, and brand voice. That visibility fuels interest in his finances.

Circa Resort & Casino at a glance

Circa is the flagship. It opened in October 2020 on Fremont Street, and it stands out for its massive, multi-level sportsbook and Stadium Swim, a rooftop pool amphitheater built for sports viewing. It is new, large, and brand-defining, which is why Circa likely accounts for the biggest piece of his wealth by value.

The D Las Vegas and Golden Gate value drivers

The D and Golden Gate are smaller than Circa, but they are steady producers. They make money from hotel rooms, gaming, food and beverage, and frequent events. They sit on valuable real estate and benefit from ongoing foot traffic. While they do not grab headlines like Circa, they add meaningful cash flow and equity.

Circa Sports and other business interests

Circa Sports is a growing sportsbook brand. It operates in Nevada and a handful of other states through partnerships. Sports betting expands the brand and adds some profit, but margins are thinner and competition is heavy. It likely trails the resorts in value. Bars, restaurants, and related operations round out the portfolio at smaller scale.

Estimating derek stevens circa net worth in 2025 with simple math

Private ownership means we work with ranges, not hard numbers. Here is a clear, step-by-step way to get a grounded estimate.

The data points I use

• Circa’s build cost was widely reported near the 1 billion dollar mark in media coverage.
• Casino values often track earnings with a multiple. Buyers think in terms of EBITDA multiples.
• EBITDA is earnings before interest, taxes, depreciation, and amortization. It is a common proxy for operating cash flow.
• Downtown Las Vegas has been strong since 2021, helped by sports, events, and higher room rates.
• Big resort projects carry debt. Equity is what is left after subtracting debt from enterprise value.

These are guideposts, not precise figures, since the entities are private.

Circa valuation: a reasonable range

I start with build cost as a sanity check, then layer on earnings. New resorts take time to mature, usually a few years, and the pandemic timing made the ramp unusual.

A simple approach:

• Assume a mature EBITDA range for Circa, then apply a 7x to 10x multiple.
• Use round numbers, keep it conservative.

Example logic:

• If Circa earns EBITDA in a broad, plausible range, say 90 to 150 million dollars when stabilized, a 7x to 10x multiple implies an enterprise value between about 630 million and 1.5 billion dollars.
• The build cost near 1 billion sits in the middle of that spread, so it works as a check.
• Debt sits on the asset, so equity equals enterprise value minus debt.

Since large projects often carry several hundred million in loans, the equity slice will be much smaller than the headline enterprise value.

The D and Golden Gate: adding the legacy assets

These hotels and casinos are smaller, steadier, and likely carry lower earnings multiples than a splashy new build. A conservative setup:

• Combined EBITDA range: 20 to 50 million dollars.
• Valuation multiple: 6x to 8x.
• That implies enterprise value around 120 to 400 million dollars.
• Subtract property-level debt to reach equity.

Again, the point is to keep the math plain and the ranges wide enough to be fair.

Ownership, partners, and debt: turning assets into equity

Derek and Greg Stevens co-own the companies. Without public filings, the exact split is not stated. For a clean estimate, I assume an even split. You could adjust the final number up or down if you believe the ownership mix is different.

Next, debt matters. Most resorts use a mix of loans and equity. To get to personal net worth, you need the equity only. So, take the property’s value, subtract the debt, then apply Derek’s ownership share.

Putting it together: low, base, and high estimate

Below is a simple scenario table using rounded numbers. These are illustrations, not confirmed figures, and they aim to be cautious.

Notes on the math:

• Circa equity equals enterprise value minus debt.
• D and Golden Gate equity is shown post-debt as a simple, combined figure.
• Smaller assets include bars, restaurants, and a modest value for Circa Sports.
• Derek’s share assumes a 50 percent ownership split with Greg.

Some public guesses claim billionaire status. A debt-adjusted view of private, leveraged resorts often lands below that mark for personal net worth. The base and optimistic scenarios here still sit under 1 billion.

What could move his net worth up or down next

Tourism trends, room rates, and casino performance

Visitor volume, average daily room rates, and gaming hold drive EBITDA. Strong weekends, sports events, and conventions can lift downtown results. If EBITDA climbs, the value multiple works on a bigger base, and equity grows faster.

Sports betting growth and market share

Circa Sports could add meaningful value if it expands in a capital-efficient way. Margins are thin, and customer acquisition is costly. Growth that keeps marketing spend in check helps equity more than growth at any price.

Interest rates, refinancing, and debt paydown

Lower interest costs improve cash flow, which supports higher equity values. Better loan terms or refinancing helps. Higher rates or slow paydown reduces equity. Debt structure can be as important as earnings.

New projects, land value, and downtown momentum

Upgrades, new venues, or land buys can create long-term value. Downtown Las Vegas has gained steam since Circa opened. If that momentum holds, property values and earnings power can rise together.

Conclusion

I used simple, transparent steps to estimate derek stevens circa net worth in 2025. The range is built on public clues, plain EBITDA math, and a clear debt adjustment. Private ownership means we get a range, not a hard number. If you weigh the logic, the financing, and the ownership share, the most reasonable outcome sits below the headline billionaire guesses.

The real drivers are earnings, debt, and downtown demand, and those are the signals to watch next.

Straight answers to common questions about derek stevens circa net worth

Q1.Is there an official number?

No. There is no public filing, since his companies are private. Any number online is an estimate. The method matters more than a bold claim.

Q2.Is Derek Stevens a billionaire?

Not proven. Using typical valuation math for private, leveraged resorts, a debt-adjusted personal figure often comes in below 1 billion. Earnings and debt levels could change that over time.

Q3.How much did Circa cost to build?

Media reports widely put the build cost around 1 billion dollars. Cost is not equity. Financing matters, and debt sits ahead of equity.

Q4.Who owns Circa and his other casinos?

Derek and Greg Stevens co-own the properties through private companies. There are no public share filings, so exact ownership splits are not disclosed.