Derek Stevens Offers CAD Discounts to Attract Canadian Tourists Back to Las Vegas
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 22 2026
0mins
Source: seekingalpha
- CAD Discount Initiative: Derek Stevens announced that his properties, including Golden Gate Hotel, The D Las Vegas, and Circa Resort & Casino, will accept Canadian dollars at par with U.S. dollars, currently at a rate of $1.00 to $0.73, providing significant discounts to Canadian tourists to stimulate tourism recovery.
- Promotion Duration: This promotional offer will run until August 31 and applies to hotel rooms, bar purchases, and $500 worth of casino play, which is expected to attract more Canadian visitors and alleviate the weak tourism trends observed over the past year.
- Tourism Data Insights: According to the Las Vegas Convention and Visitors Authority, Canadian visitation fell nearly 25% in 2024, while overall tourism was down about 7%, highlighting the urgency for market recovery efforts.
- Air Seat Capacity Decline: Airline seat capacity from Canadian cities to Las Vegas has decreased by approximately 40%, reaching the lowest level since 2006, reflecting tourists' dissatisfaction with U.S. policies and rising travel costs, which contextualizes Stevens' discount initiative.
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Analyst Views on MGM
Wall Street analysts forecast MGM stock price to rise
14 Analyst Rating
5 Buy
7 Hold
2 Sell
Hold
Current: 36.780
Low
29.00
Averages
40.31
High
56.00
Current: 36.780
Low
29.00
Averages
40.31
High
56.00
About MGM
MGM Resorts International is a global gaming and entertainment company with national and international destinations featuring hotels and casinos, meetings and conference spaces, incredible live and theatrical entertainment experiences, and a range of restaurants, nightlife and retail offerings. Its segment includes Las Vegas Strip Resorts, Regional Operations, MGM China, and MGM Digital. Las Vegas Strip Resorts consists of casino resorts: Aria, Bellagio, The Cosmopolitan of Las Vegas, MGM Grand Las Vegas, Mandalay Bay, Luxor, New York-New York, Excalibur, and Park MGM. Regional Operations consists of various casino properties: MGM Grand Detroit in Detroit, Michigan; Beau Rivage in Biloxi, Mississippi; Gold Strike Tunica in Tunica, Borgata in Atlantic City, New Jersey; MGM National Harbor in Prince George’s County, Maryland; MGM Springfield in Springfield, Massachusetts; Empire City in Yonkers, New York, and others. MGM Digital is its online gaming portfolio which consists of LeoVegas.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Conference Call Details: The company will host a conference call on the same day at 5:00 p.m. Eastern Time, which will include a brief discussion of the financial results followed by a Q&A session, enhancing investor engagement.
- Supplemental Materials Release: Prior to the call, MGM will post supplemental slides on its Investor Relations website, ensuring investors have a comprehensive understanding of the company's financial status and future outlook.
- Global Business Overview: MGM Resorts is a leading global entertainment company with 31 unique hotel and gaming destinations, committed to enhancing customer experiences through sustainability and innovation while actively pursuing integrated resort development in Japan.
See More
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- Downtown Casino Challenges: Downtown Las Vegas casinos experienced a 4.2% decline in gaming win to $69.8 million during the month, indicating greater competitive pressures and risks of customer attrition in the area.
- Diverse Game Performance: While overall gaming revenue grew, slot machine revenue increased by 1.7%, and table game revenue rose by 1.1%, with Pai Gow gaming win surging 158% and baccarat up 44%, highlighting shifts in consumer preferences.
See More
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- Increased Auto Loan Defaults: The study found that auto loan delinquencies rose by 5.6% post-legalization, further reflecting the potential threat to household financial health, particularly pronounced among younger borrowers who are more likely to engage in betting activities.
- Declining Credit Scores: In counties where sports betting is legal, overall delinquency rates increased by approximately 0.3 percentage points, while median credit scores slightly declined, indicating a broader adverse effect of gambling on household credit conditions.
- Heightened Risks for Active Bettors: The study estimates that delinquency rates among active bettors surged by around 10 percentage points, with younger borrowers facing even greater financial pressure, potentially leading to a higher likelihood of bankruptcy as a result of increased gambling access.
See More
