Like a publicity still from an all-star movie, a photograph from the late 1970s shows 10 legendary Downtown Las Vegas casino owner-operators assembled on Fremont Street.
The group includes a young Steve Wynn, then owner of the group-capable Golden Nugget, and Bill Boyd (chairman emeritus and co-founder), now 94, who, with his legendary father Sam, launched Boyd Gaming Corporation 50 years ago with Downtown’s California Hotel Casino.
Late legends in the lineup include Jeanne Hood, the pioneering woman who ran Four Queens (currently finalizing a $24 million refresh of its 300-room North Tower) from 1977 to 1993, and Benny “Cowboy” Binion, the renegade Texan who once transported guests from the airport to his Binion’s Horseshoe in stagecoaches.
In the middle stands Kenny Epstein, owner, CEO and chairman of El Cortez Hotel & Casino, the oldest continuously running hotel-casino in Las Vegas.
“Half of those folks are gone,” said Epstein. “I’m still here though.”
Born in 1941, the year El Cortez opened, Epstein moved from Chicago to Las Vegas in 1959 when his father Ike became an executive at The Stardust. In 1966, Kenny launched his Vegas career as a baccarat shift boss at the brand-new Caesars Palace. A decade later, he purchased a stake in the El Cortez, then owned by late Vegas “Founding Father” Jackie Gaughan.
“Jackie was a triple threat—smart, a go-getter and on the square—who taught me that customers are number one,” said Epstein, who later partnered with Gaughan and his son Michael (owner of South Point Hotel, Casino & Spa) on Barbary Coast (now The Cromwell, becoming The Vanderpump Hotel by 2026) and off-Strip Gold Coast, Orleans and Suncoast properties. He has owned El Cortez outright since 2008.
Epstein now stands alongside modern moguls Derek Stevens, whose holdings include Circa Resort & Casino, and Jonathan Jossel, CEO of Plaza Hotel & Casino, as today’s hands-on, highly visible champions of the “original” Las Vegas.
Once neglected, value-driven Downtown, featuring 9,516 rooms and 221,200 square feet of meeting space, has rising visitor and group appeal. Major events like last year’s inaugural free Neon City Festival are setting a new upbeat tempo for the neighborhood. The canopied Fremont Street Experience, 30 this year, hosts large-scale corporate activations. Cultural draws include the Mob Museum, Neon Museum and Smith Center for the Performing Arts in Symphony Park, which along with the restaurant-rich Arts District is undergoing major expansion.
The passion-driven trio shared how they are investing in Downtown’s continuing success.
[Related: Las Vegas Forecast: Diversification Continues to Draw Bigger Visitor Spend]
Young at Heart
Described by Epstein as “a time warp,” the El Cortez was briefly owned by a mob syndicate that included Bugsy Siegel and Meyer Lansky before their move to the Flamingo on the nascent Strip.
Redolent with vintage appeal, the 363-room Spanish Colonial Revival landmark is the only standing casino on the National Register of Historic Places. Atmospheric features include classic neon signage, coin-operated games, Siegel’s 1941 restaurant and the gorgeously restored “Original 47” rooms from 1941. Evocative rentals include the historic Parlour Bar and prized Jackie Gaughan Suite, the penthouse apartment where Gaughan and his wife Bertie once lived.
Epstein’s focus is squarely on today and tomorrow, though.
“Everybody likes to reminisce, but from transportation to our professional sports teams, Vegas today is far better than 50 years ago,” he said. “The El Cortez provides a nostalgic look at history, but I live in the future, always looking to make this place better.”
The ever-gregarious operator just invested $20 million in a property-wide expansion. Unveiled in February 2025, this latest phase of a multi-year transformation to modernize functional areas while elevating experiences includes two new lobby bars, a new Asian restaurant from Michelin Guide-recognized Chef Po Fai Lam and 10,000 feet of added gaming space.
“Our average guest age used to be 54,” Epstein said. “Now it is 34. Younger folks want to experience the original Vegas, as we also see a shift toward more visitors than locals. The new generation of customers are our future.”
That includes repeat groups like The Tavern League of Wisconsin, a state trade association of alcoholic beverage retailers.
“They started out some eight years ago with around 40 people, which is our ideal size,” Epstein explained. “Nearly 500 attendees came for their latest meetup in February 2025. They took over the whole hotel. Downtown’s turnaround started in 2013 with the late Tony Hsieh and $350 million investment in the neighborhood. Then Derek Stevens built Circa. When somebody puts a big expensive house next to yours, your value goes up—we help each other and everybody wins.”
[Related: The Birthplace of the Las Vegas Strip Is Experiencing a Multibillion-Dollar Revival]
Circa Resort & Casino
Originally from Detroit, Derek Stevens’s passion for Vegas began with trips for sporting events and fun in the 1980s. In 2006, he purchased the Golden Gate, Vegas’s oldest hotel, followed by Fitzgerald’s, which he reflagged as group-capable The D Las Vegas after his first initial and hometown. Around 2015, having added the outdoor Downtown Las Vegas Events Center, Stevens embarked on the first new-build casino-resort in Downtown since Fitzgerald’s predecessor, The Sundance (1980).
His project site, Two Fremont Street, first made history in 1905 as the Overland Hotel, which in 1928 displayed the first neon sign in Las Vegas, before later becoming the Las Vegas Club.
Demolished with adjacent Glitter Gulch and Mermaids, the site became the billion-dollar-plus Circa Resort & Casino, which opened in late December 2020.
Recently expanded from 512 to 618 keys, the glittering adults-only tower houses 35,000 square feet of versatile meeting and convention space. Signature features include the world’s largest sportsbook and event-ready spaces such as the six-tier outdoor Stadium Swim pool complex. The rooftop Legacy Club bar’s outdoor patio comes with stunning Vegas panoramas. Rescued from Glitter Gluch, iconic neon cowgirl Vegas Vickie adorns the namesake lobby bar. Private dining options include Barry’s Downtown Prime steakhouse.
“Our goal was to introduce a modern, luxury resort experience that honored the iconic legacy of Downtown, and we believe Circa has elevated expectations of what’s possible in this part of Las Vegas,” Stevens said. “Nearing our five-year anniversary is incredibly rewarding. We have drawn waves of new visitors who might not have considered Downtown before, while working to remind long-time visitors of this community’s own unique energy and personality as a lively area that is constantly evolving.”
Deeply involved in the community, Stevens will “never underestimate the importance of the honor” of carrying on the legacy of his predecessors.
“The visionaries who built this city laid the groundwork for everything Las Vegas is today,” he said. “I see it as my job to carry on their legacy, and my responsibility to push the story forward. I created metal busts of the city’s founding fathers at the Legacy Club entrance to highlight the importance of their contributions.”
Attracting groups figures prominently in the plan.
“Downtown means business in many ways, with a wide selection of perfect spaces for small to medium-sized conventions and gatherings,” Stevens continued. “Circa, in particular, provides some of the newest technologies that groups require in 2025 and beyond.”
He added that Downtown is “a uniquely entrepreneurial and collaborative” environment.
“Through Fremont Street Experience LLC, most Downtown casino-resorts are legal partners that are aligned in keeping the neighborhood thriving and vibrant. I personally love that aspect, which creates a real sense of camaraderie and shared vision. After 20 years in Downtown, I can honestly say that in 2025, I am more excited than ever for the community’s future, which includes record residential growth and first-time entrepreneurs making their mark. Whenever a new business opens, I or one of our executives try to stop by. Supporting that spirit is what makes Downtown so special.”
[Related: Las Vegas Steakhouses Ideal for Private Dining or Buyouts]
Plans for the Plaza Hotel & Casino
Opened in 1971 as the Union Plaza Hotel and Casino on the site of Vegas’ historic railroad depot by owners including Jackie Gaughan and Sam and Bill Boyd, Plaza Hotel & Casino, with 504 rooms and 66,000-square-foot gaming floor, was the world’s largest hotel-casino. Groovy features included an elevated circular pool overlooking Main and Fremont Streets, which today houses glass-domed Oscar’s Steakhouse.
Created in partnership with former Las Vegas Mayor Oscar Goodman, the must-experience restaurant, offering five unique group spaces, was part of a $35 million property renovation completed in 2011. Overseeing the project was Jonathan Jossel. Born in South Africa and raised in London, Jossel’s keen interest in casinos—his university thesis was on the UK’s gambling industry—led to a position with the London-based Tamares Group, whose Southern Nevada casino holdings included the Plaza.
In 2007, Jossel, then 23, moved to Downtown Las Vegas for the role. At 29, he became Nevada’s youngest gaming license holder. Named CEO of the Plaza in 2014, Jossel has since continued to significantly transform the landmark into a dynamic address for business and leisure.
With nearly 1,000 modernized rooms and suites, the Plaza offers 30,000 square feet of refurbished group space, including Downtown’s largest ballroom, at 19,000 square feet, and a classic Vegas showroom.
Unveiled in 2023, his multimillion-dollar “Main Street Reimagination” initiative included the Carousel Bar in the glittering porte-cochère, event-capable rooftop patio at Oscar’s and Pinkbox Doughnuts. Other amenities include adjacent CORE Arena,
Downtown’s only outdoor equestrian and multipurpose facility; a rooftop pool and recreation deck with private cabanas, hot tub, food truck and dedicated Pickleball courts; and an outpost of famed music venue the Sand Dollar Lounge. Plus, “Welcome to the Weekend” fireworks every Friday night from May through September.
“People said I was crazy to live Downtown when I moved to Vegas,” related Jossel of the neighborhood’s then downtrodden days. “Tony Hsieh completely changed that narrative with his plan for revitalizing the area around Fremont East through start-ups, small businesses, cultural venues and more. He gave Downtown instant credibility both locally and nationally.”
Reinvesting in the Plaza squared with the company’s development strategy.
“Of the Downtown casinos in Tamares’ portfolio, the Plaza was the second largest by room count, and largest by land, at 17 acres,” Jossel explained. “It made sense to devote our resources to a single property.”
While the festive Plaza specializes in niche market events, Jossel foresees more corporate groups choosing Downtown.
“Once planners and delegates come here, typically for drinks and dinner, they find that historical red flags like parking, noise and security are less concerning than they thought,” he said. “Advantages for groups include owning the space and the experience. We used to host the Big Blues Bender music event, which took over the entire hotel. We are talking self-contained energy with every amenity just an elevator ride away.”
Jossel sees “huge potential” for Downtown.
“I love the culture that we are building at the Plaza and the community at large,” he said. “As Symphony Park and the Arts District continue to flourish, we are seeing greater connectivity throughout Downtown. We encourage our groups to explore the wider neighborhood as we collaborate with our competitors to continually enhance Downtown, together.”
