Nevada’s gaming sector maintained its impressive trend of monthly revenues exceeding $1 billion in January. Nevertheless, Las Vegas saw a decrease in visitors, leading to a significant drop in Strip gaming results compared to the robust start of 2025.
According to the Nevada Gaming Control Board, the total gaming revenue across the state reached $1.345 billion for January, marking a 6.6% decline from the previous year. On the Las Vegas Strip alone, the gaming revenue amounted to $747.7 million, reflecting an 11% year-over-year drop. Despite this downturn, January represented the 59th consecutive month where statewide gaming revenue surpassed the $1 billion mark.
Senior Economic Analyst Shelley Newell remarked that January’s figures were compared to exceptionally strong results from the prior year. “This month, Nevada continues to achieve gaming revenues that are above pre-pandemic levels,” stated Newell. “Statewide total revenue was 36.7% or $360.9 million higher compared to January 2019.”
The board indicated that gaming tax collections for the first month of 2026 reached $100.9 million, marking the highest monthly total thus far in the 2025–26 fiscal year. Year-to-date collections from the state’s 6.75% gaming tax have risen by 2.1%, bringing the total to $702.8 million.
There were notable performance discrepancies across the 20 markets monitored statewide. While the Strip experienced the most severe decline, several smaller markets saw double-digit growth. Notably, Mesquite reported a 14.1% increase to $19.8 million, the highest figure in its history.
Wendover saw a 14.7% rise to $25.7 million, Elko County’s revenue increased by 12.9% to $36.9 million, Sparks grew by 10.5%, and South Lake Tahoe advanced by 10.3% to $24.6 million.
In Southern Nevada, the Strip’s downturn affected overall regional performance. Clark County’s gaming revenue declined by 8.4% to $1.16 billion. Downtown Las Vegas saw a reduction of 5.2% to $79.4 million, the Boulder Strip dipped by 7% to $81.2 million, Laughlin fell by 3.3% to $40.9 million, and other areas in Clark County dropped by 3% to $165.7 million.
Analysts have linked much of the Strip’s decline to performance in table games and baccarat. Newell mentioned that players had stronger outcomes at the tables, which diminished casino hold percentages.
Baccarat drop increased by 17.8% to $950.2 million, yet the hold percentage fell to 12.98% compared to 26.66% from January 2025. Table drop rose by 7.1% to $3.3 billion, while hold declined to 13.08% from 17.23% the previous year. Additionally, Nevada sportsbook revenue decreased by 11.1% year-on-year, while slot machine revenue saw a slight increase of 0.5%.
Meanwhile, tourism indicators revealed continued challenges. The Las Vegas Convention and Visitors Authority reported that 3.3 million individuals visited the city in January, representing a 2.2% decrease from the same month last year. This decline came after 12 consecutive months of visitation decreases in 2025, extending this trend into early 2026.
Passenger traffic at Harry Reid International Airport fell by 7.9% to 4 million travelers. Counts of vehicles on major highways indicated a 1% drop in arrivals from California and a 3% decrease from Arizona.
Hotel performance presented mixed outcomes. The occupancy rate decreased by 2.4 percentage points to 79.5%. However, the average daily room rate rose by 6.7% to $200.15 compared with January 2024.
Convention attendance provided a silver lining against weaker leisure visitation. The LVCVA reported a 6.9% year-over-year increase in convention attendance, totaling 672,100. Major events included CES with 148,000 attendees, World of Concrete with 58,000 participants, the Shooting, Hunting and Outdoors Trade Show with 53,000, and the much-anticipated return of the International Roofing Expo, drawing 15,000 attendees as part of its alternating schedule between Las Vegas and other venues.