Published on: September 29, 2025, 08:28h.
Updated on: September 29, 2025, 08:28h.
- Visitor numbers in Las Vegas are down in 2025
- Casino earnings have risen despite lower visitation
Tourism in Las Vegas has faced challenges this summer, primarily attributed to escalating resort and parking fees, dining “tariff surcharges,” stricter gaming odds, and diminished perks.
Las Vegas saw a decrease of 2.18 million visitors by August this year, translating to a 7.8% drop in visitor numbers compared to the previous year. This decline has resulted in a drop of over $10 in the average nightly room price on the Strip.
Despite a significant decrease in visitors, Las Vegas casinos reported a rise in gaming winnings. August marked the conclusion of a three-month consecutive growth period for Clark County casinos, with gross gaming revenue (GGR) increasing by 4% from 2024 to reach $3.34 billion. Specifically, GGR for Clark County rose over 5% to surpass $1 billion, with the Strip contributing a 5.5% boost to $679.3 million.
Across the state, GGR saw a 5.5% increase to $1.22 billion. Overall summer GGR in Nevada also rose by 4.3%, totaling over $3.9 billion.
Baccarat Surges Ahead
Baccarat, favored by high rollers and Asian players, was a key contributor to this growth. August GGR from baccarat on the Strip skyrocketed by 51% to $114.4 million. Between June and August, baccarat winnings on the Strip increased by 29% to $355.3 million.
According to Barry Jonas of Truist Securities, the strong performance in baccarat was due to solid hold rates, compensating for the softer overall betting volume. Similarly, John DeCree from CBRE Equity Research stated that the August GGR rise was almost exclusively attributed to baccarat.
Baccarat wasn’t the only game benefitting from increased GGR last month; craps winnings rose by 5% to $30.1 million, and the poker rake surged by 14% to $14 million.
In addition, sports betting also remained robust, with oddsmakers retaining $20.8 million of players’ stakes, marking a dramatic 178% increase from August 2024. Combined table and sports revenue on the Strip rose by 13% year-over-year to $312.6 million, despite flat slot revenue at $366.7 million.
DeCree remarked, “The ongoing strength in mass market gaming volumes is encouraging, particularly in light of the reduced visitor numbers.”
Looking forward, DeCree expressed optimism for the upcoming two quarters, anticipating “stability in visitation as the convention season ramps up.” However, he cautioned that challenges in leisure visitation are likely to linger in the short term.
Challenges in Leisure Travel
DeCree noted that leisure challenges, coupled with the rising costs associated with visiting Las Vegas, include geopolitical issues and immigration tensions affecting travelers from the US, Canada, Mexico, and Southern California. Additionally, Spirit Airlines’ reduced flight capacity into Las Vegas is also impacting visitor volume.
The Las Vegas Convention & Visitors Authority reported some positive news for August.
“After facing double-digit declines in the previous two months, August visitation only saw a 6.7% decrease year-over-year, with nearly 3.2 million visitors,” according to the LVCVA Executive Summary for Las Vegas.
The LVCVA highlighted that this slight improvement in August occurred despite a challenging convention schedule, noting that the World Market Center’s summer expo drew 38K attendees in July this year rather than August.