UNLV Turns Away Circa Offer to Keep QB Sluka at School

The University of Nevada-Las Vegas (UNLV) rebuffed a $100,000offer from Circa Resort & Casino to keep quarterback Matthew Sluka at the school.

Stevens Circa
Circa Sports CEO Derek Stevens at the opening of Circa Sportsbook. His company offered UNLV $100,000 to convince quarterback Matthew Sluka to stay at the school. (Image: Getty Images)

On Wednesday, Sluka announced that he’s going to sit out the remainder of the 2024, redshirt, and look to transfer because UNLV hasn’t followed through on a $100,000 name, image, and likeness (NIL) payment. Sluka’s agent, Marcus Cromartie, told The Associated Press the payment was promised to the player by an unidentified assistant coach to coax Sluka into transferring to UNLV after he played at Holy Cross in 2023.

Ever the good steward of Las Vegas, Circa CEO Derek Stevens talked it over with Vice President of Operations Mike Palm and they figured it’d be worth $100,000 to keep Sluka in a Rebels uniform, reports The Las Review-Journal. Palm reached out to the university and UNLV confirmed a conversation took place, but it didn’t last long because Sluka has already moved on, according to the newspaper.

In addition to Circa, Stevens controls D Las Vegas, Golden Gate Hotel & Casino, and Downtown Las Vegas Events Center.

Good PR Move by Circa

While it would have been better had Circa’s effort born fruit in terms of keeping Sluka at UNLV, it was still a smart by Stevens to at least try.

UNLV 3-0 to start the 2024 with two of those wins coming over Big 12 teams. Prior to Sluka’s departure, there was hope that on the back of that fast start, the Rebels had a shot at being the Group of 5 representative in the new expanded College Football Playoff (CFP).

Under the expanded 12-team CFP format, five spots are reserved for the five highest-rated conference champions, meaning there’s a guaranteed at least one team from outside the Power 4 makes the field. Consensus indicates that team would likely come from the Mountain West — UNLV’s conference — because that league is typically tougher than other Group of 5 conferences.

UNLV football has been reborn under coach Barry Odom and there’s increasing local enthusiasm for the team, confirming that it was smart of Circa to at least make a run at keeping Sluka at the school, particularly with so much on the line this season.

NIL Takes Sour Turn

Some experts view Sluka’s departure from UNLV as a byproduct of the NIL era and one of its darkest chapters to date. Three years ago, the NCAA approved compensation for athletes, marking a boon for those in revenue-generating sports such as football and men’s basketball.

NIL money has been used by schools to lure players away from rivals, explaining why the transfer portal is a monster unto itself in this era of college athletics. That also means schools and donors need to follow through on their financial commitments to players, something Sluka said didn’t happen at UNLV.

“I committed to UNLV based on certain representations that were made to me, which were not upheld after I enrolled,” Sluka wrote on X. “Despite discussions, it became clear that these commitments would not be fulfilled in the future.”

Todd Shriber
Todd Shriber Financial Reporter

Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org.

Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019.

Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com.

He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better.

Contact Todd at todd.shriber@casino.org.

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  • T
    tim September 27, 2024
    Let Sluka turn pro if he wants to make big bucks. Compete against other pros and prove his worth. Leave college sports to amateurs. That… Let Sluka turn pro if he wants to make big bucks. Compete against other pros and prove his worth. Leave college sports to amateurs. That goes for all money hungry players.
    Reply
  • D
    d September 27, 2024
    Maybe Derek should stay in his lane and pay his employees a competitive wage instead of throwing money around for clout. His low pay… Maybe Derek should stay in his lane and pay his employees a competitive wage instead of throwing money around for clout. His low pay and employee turnover rate is laughable. Nobody wants to stay working for him.
    Reply

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