The revenue downturn is part of a broader tourism slowdown, with Las Vegas welcoming around 3.41 million visitors in May — a 6.5% drop from the previous year.
Nevada Casinos Experience Lowest Gambling Revenue Since 2021 in May
According to statistics provided by the Nevada Gaming Control Board, gambling revenues at the Las Vegas Strip casinos in May were $713.7 million, down 3.9% compared to May 2024. This marks the worst May figure for the Strip since 2021 when it was still recuperating from the effects of the COVID-19 pandemic. Income from gambling in Nevada also descended, shrinking 2.2% to $1.29 billion.
This slump in income mirrors a larger tourism decline: The visitor counts stood at 3.41 million in May, down 6.5% from the previous year. Reduced road and air mobilities have caused this setback. Conversely, airport passenger traffic declined by 3.9%, and the vehicle counts at the California-Nevada automobile border dropped by 5%.
Courtesy of the slump, convention business was a rare bright spot. Attendees increased by 10.7% from the year earlier due in part to large industry events, such as the Bitcoin Conference, LightFair International, and the NAMA Show. According to the reports, this uptick in convention visitors helped offset some of the drop in leisure visitors.
Mid-Range Casinos Hit Hard by Revenue Decline; High-End and Smaller Markets Remain Stable
Other indicators confirmed the broad economic slowdown. While average hotel occupancy on the Strip dropped to 85.3%, daily room charges were $198.20 against $202.59 last year. Downtown Las Vegas bore the brunt of rate declines, with prices going down by 12.4% to $109.39.
The gaming industry saw varied performance between sectors. The Strip was mostly affected by slot losses amounting to $381.2 million, a decrease of 5.4%, because of fewer players and fewer wins. Table games did slightly better, with non-baccarat revenue rising by 2.4% to $222.6 million. Meanwhile, baccarat proved to be troublesome with revenues dipping 10% backing a 10% drop in bets.
Because of the slowdown, mid-range casinos took a heavy blow. While the high-end properties such as Bellagio and Wynn came through the onslaught with only minor losses, those in the middle—income-wise, drawing $12 million to $36 million monthly in revenues—saw incomes slashed by more than half.
Other smaller gambling areas outside Vegas Strip have seen strength this year. Laughlin shows up 17% on gaming win, while Mesquite went 9.7% up. Northern parts of Nevada also fared well; it was 12% for Sparks, almost.
The industry faces hard times during recovery in the summer. MICE should provide some factors, but overall interest or demand seems to be tapering. A source from the industry revealed that things could probably not start looking up until the year ends.
Read More – https://news.wolf7pay.com/wimbledon-2025-odds-schedule-prediction/