Published on: October 29, 2025, 04:09h.

Updated on: October 29, 2025, 04:10h.

Recent data about tourism and gaming revenue, released on Wednesday, underscores that Las Vegas is experiencing a downturn that extends beyond seasonal fluctuations. The Las Vegas Convention and Visitors Authority (LVCVA) reported an 8.8% decrease in visitors for September compared to the same month last year, alongside declines in gaming income and hotel rates.

While over 3 million visitors came to Vegas in September, that figure was nearly 300,000 lower than in September 2024.

The LVCVA’s executive summary highlighted that “slower midweek volumes” contributed significantly to this decline. Additionally, convention attendance suffered an 18.7% drop, partly due to the absence of MINExpo, which won’t return until 2028, and the rescheduling of Oracle’s CloudWorld to October.

To counteract the downturn, the LVCVA initiated a “Fabulous 5-Day Sale” on September 22, aimed at boosting bookings. However, the real effects of this promotion may not be reflected until the tourism report for October is released.

Gaming Revenue Decline

After a streak of growth spanning four months, gaming revenue fell 5.5% from September of the previous year, totaling $687.81 million, according to the Nevada Gaming Control Board. Notably, baccarat, which previously bolstered record gaming wins early in the year, has dropped by 42.9%, and sports betting revenues on the Strip have decreased by 39.8%.

Hotel occupancy also saw a decline, down 5.2% to 78.7%, while the average daily room rate decreased by 2.9% to $190.56. Strip occupancy hit 81.3%, marking a fall of 5.7% compared to last September.

The LVCVA attributed the slowdown in room metrics to “slower midweek volumes,” which have continuously hindered occupancy rates throughout 2025.

Despite optimistic statements from casino executives aimed at reassuring investors, the statistics present a more concerning narrative. For instance, Caesars Entertainment reported a year-over-year drop of 9% in Las Vegas Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for the first three quarters of 2025, along with a staggering decrease of nearly 90,000 hotel room nights in Q3 alone.

For residents, employees, and investors who depend on the financial stability of Las Vegas, this ongoing negative trend serves as a significant red flag — no longer a mere temporary setback.