Derek Stevens Circa Net Worth: A Clear, Realistic 2025 Estimate

Curious about the real number behind the hype? Many readers in November 2025 are searching for Derek Stevens Circa net worth as Las Vegas draws global attention with packed event calendars, downtown growth, and the rise of Circa Sports.

Stevens is the co-owner of Circa Resort & Casino, The D Las Vegas, Golden Gate, and the Circa Sports sportsbook brand. He is a private owner, so there are no public filings that reveal his personal finances. Any number online is an estimate, not a certified figure.

This guide gives a realistic range, shows how to build a credible estimate, and explains what could move that range up or down. Net worth means total asset value, minus debt and taxes, adjusted for ownership share and the fact that most assets are private and not easy to sell.

What Is Derek Stevens’ Net Worth in 2025? A Realistic Range, Not Clickbait

A grounded range for Derek Stevens in 2025 sits in the low to mid hundreds of millions, not billions. He shares ownership with his brother, Greg Stevens, and carries property debt tied to large projects, including Circa. He does not appear on the Forbes Billionaires list, and available market signals do not support billionaire status.

Ranges differ across websites because many posts recycle old guesses. Some mix company value with personal equity, skip debt, or ignore partners. Others use casino strip multiples for downtown assets, which can inflate paper values.

In plain words, a fair view is this: strong nine figures, not ten figures.

Why online numbers vary so much

• Some posts use outdated data or old rumors.
• Many pages copy the same estimate with no sources.
• Writers sometimes value the company, then forget ownership share.
• Debt gets ignored, even though it is large on new builds.
• Partners get left out, even though equity is shared.

Sources that improve confidence

• Nevada Gaming Control Board reports and revenue trends
• Clark County property records for mortgages and liens
• Nevada gaming license hearings and public comments
• Las Vegas Review-Journal coverage and local business reporting
• Casino trade press and analyst notes on downtown performance
• On-the-record interviews with Derek Stevens about strategy and growth

If you publish, add citations and dates next to any figures.

What Drives Derek Stevens’ Wealth: Circa, The D, Golden Gate, and Circa Sports

Derek Stevens’ wealth is concentrated in four linked assets. He and Greg Stevens co-own the properties, and their decisions tie the brands together. The value comes from steady cash flow today and brand value that can grow tomorrow.

• Circa Resort & Casino: the flagship with scale, design, and premium experiences.
• The D Las Vegas: high-energy, value-forward rooms and gaming on Fremont Street.
• Golden Gate: historic, compact, and efficient, with strong slot and table play.
• Circa Sports: a growing sportsbook brand with high limits and headline contests.

What matters most is cash flow from rooms, gaming, food and beverage, and events, plus the marketing pull of Circa Sports. The mix supports the net worth range even without posting hard numbers.

Circa Resort & Casino: flagship asset and brand engine

Circa opened in 2020 as an adults-only resort with one of the largest sportsbooks in the country and Stadium Swim, a multi-pool venue with massive screens. The property leans into big events, from college football Saturdays to the Super Bowl, and fills rooms during peak calendars. Premium experiences command higher rates, which boosts property earnings.

Flagship assets often trade at higher valuation multiples than legacy properties. They set the brand tone, attract high-value guests, and drive spend across rooms, restaurants, pools, and the book. That is why Circa weighs heavily in a fair net worth range.

The D Las Vegas and Golden Gate: steady downtown cash flow

The D and Golden Gate sit on Fremont Street, a heavy foot traffic zone with constant flow from Viva Vision and street events. Value pricing, a strong slot mix, and accessible table games keep occupancy high and the floor busy. These are proven operators with loyal guests.

Shared marketing and operations make the three properties more efficient. The group can coordinate hosts, cross-promote offers, and run one loyalty program playbook. That synergy supports margins and lowers customer acquisition cost.

Circa Sports: growing footprint beyond Nevada

Circa Sports is known for high limits, fair pricing, and sharp risk management. The brand runs low-hold markets and offers headline contests each season, including Circa Million and Circa Survivor. The book operates in Nevada and in other states such as Colorado, Iowa, and Illinois, with licensing in select markets.

During expansion, profits can be thin. Marketing and market entry costs are front loaded. Even so, the sportsbook raises awareness for Circa, pulls traffic to the flagship, and may carry brand value that exceeds near-term cash flow.

How to Estimate Derek Stevens’ Net Worth Like an Analyst

You can build a sensible estimate with a few steps. Keep the math simple and the logic clear.

1. Estimate EBITDA for each property

Use public comps, trade press, or local reporting to pick a range for each casino. Use conservative figures if you lack fresh data.

2. Choose a fair multiple

Apply an EBITDA multiple to each property value. Newer trophy assets may deserve a higher multiple than legacy casinos.

3. Subtract net debt

Remove property-level debt and any construction loans from the asset value to get equity value.

4. Apply ownership share

Derek shares ownership with Greg, so apply a share, not 100 percent.

5. Add the sportsbook and other assets

Assign a modest value to Circa Sports while it is in growth mode. Add any other known interests.

6. Adjust for taxes and illiquidity

Private equity in casinos is not cash. A sale would trigger taxes and fees. Mark down the number for a realistic personal net worth.

Choose fair multiples for downtown casinos

Private sales for downtown casinos often cluster near 7x to 10x EBITDA. Circa could sit near the higher end due to its scale, design, and event pull. Older, smaller properties may sit in the middle or lower end.

Multiples move with interest rates, growth prospects, and brand strength. If rates fall and demand rises, multiples can expand. If credit tightens or growth slows, multiples compress.

Account for debt, partners, and taxes

Construction loans and property mortgages reduce equity. A large new build usually carries large debt. Equity belongs to the partners based on their shares, so personal ownership is a fraction of property equity. After a sale, taxes reduce take-home proceeds. A pre-tax valuation can overstate personal net worth by a wide margin.

A simple worked example with round numbers

This is a hypothetical illustration, not a claim about actual results.

• Circa EBITDA: $120 million
• The D EBITDA: $45 million
• Golden Gate EBITDA: $25 million

Apply multiples:

• Circa at 10x: $1.2 billion enterprise value
• The D at 8x: $360 million enterprise value
• Golden Gate at 7.5x: $188 million enterprise value

Subtract estimated net debt:

• Circa net debt: $800 million, equity value: $400 million
• The D net debt: $120 million, equity value: $240 million
• Golden Gate net debt: $60 million, equity value: $128 million

Add equity values: $768 million combined.

Apply a sample ownership share:

• If Derek holds 50 percent across the stack, his share would be about $384 million.

Add Circa Sports at a modest value:

• Assign $50 million equity value to the brand while in expansion, Derek share at 50 percent adds $25 million.

Pre-tax personal total in this simple model: about $409 million.

Adjust for taxes and illiquidity:

• A private, pre-tax figure can drop by 20 to 35 percent for a quick sale or tax hit, leading to a personal net figure in the low to mid hundreds of millions.

Again, this is an illustration, not a statement of fact. It shows how a grounded range can sit well below a billion even if enterprise values look large.

What Could Change His Net Worth Next: 2025 to 2027

Values move with cash flow, debt costs, and market mood. Las Vegas can swing with the event calendar, airline capacity, and consumer travel. Sports betting adds growth, but also regulatory and tech risk.

Growth catalysts to watch

• Big event calendar
  F1, major fights, NFL milestones, and new entertainment residencies push rates higher and keep occupancy tight.
• Stronger convention demand
  Group business fills weekdays and lifts food and beverage, raising margins.
• Downtown upgrades
  Fremont Street improvements and new attractions increase foot traffic and time on property.
• Circa Sports momentum
  More states, larger contests, and strong handle can raise brand value and lift traffic to Circa.

Higher room rates, stronger gaming win, and larger handle can push EBITDA higher, which can lift valuations.

Risks that could reduce value

• Higher interest rates
  Debt costs squeeze free cash flow and pull down multiples.
• Tighter credit
  Refinancing gets harder and more expensive, which lowers equity value.
• Weaker consumer travel
  A slowdown hits occupancy, ADR, and gaming spend.
• Cyber issues
  Security incidents can disrupt operations and raise costs.
• Sportsbook regulation
  Rule changes, tax hikes, or market access limits can reduce profits.
• New supply
  Fresh casinos or major upgrades nearby can pull share away and trim margins.

Each risk flows either into EBITDA or into the multiple, which lowers paper value even if revenue stays flat.

Personal moves, giving, and liquidity

Large charitable gifts, capital projects, or major marketing bets can reduce short-term liquidity. They can also strengthen brand value and long-term earnings. Most of his wealth likely sits in private assets, which means it is not easy to convert to cash fast or at full value.

Quick FAQs on Derek Stevens and Circa Net Worth

Is Derek Stevens a billionaire?

No. Based on available signals and private market context, he does not appear to be a billionaire.

How much of Circa does he own?

Ownership is private and shared with his brother, Greg. Exact percentages are not public, so any precise claim online is a guess.

Does Circa Sports add a lot to his net worth today?

It adds brand value and traffic to the resort group. Profits can be thin while expanding, but long-term value could grow if the footprint scales.

Where can I find the latest data?

Track Nevada Gaming Control Board reports, local business reporting, property records, and fresh interviews. Check dates and avoid recycled posts with no sources.

Conclusion

The most credible view of Derek Stevens’ wealth places him in the low to mid hundreds of millions, not in billionaire territory. That range makes sense once you account for cash flow, fair multiples, substantial property debt, shared ownership, and taxes. Private valuations shift with earnings, rates, and event momentum, so the number is not fixed.

If you want a current estimate, use the step-by-step method above, plug in updated figures, and rerun the math when fresh data arrives.