In September 2025, Las Vegas witnessed a notable downturn in both tourism and gaming revenues, continuing a trend of declining figures that began earlier in the summer. According to the Las Vegas Convention and Visitors Authority (LVCVA), the city saw an 8.8% decrease in visitors compared to the same month last year, with just over 3.1 million individuals visiting. This drop, amounting to 297,700 fewer visitors, follows a series of declines in recent months, including an 18.7% fall in convention attendance, which contributed to the overall slump.
Decline in Visitor Numbers and Hotel Occupancy
The decrease in visitation was particularly pronounced during midweek periods, with hotel occupancy dropping 5.2 percentage points to 78.7%. Midweek occupancy suffered the most, falling by 6.7 percentage points to 74.4%, while the weekend showed only a marginal drop of 0.1% to 90.3%. The downturn in attendance was partly attributed to the absence of several large conventions, including the once-every-four-years MINExpo, and a shift of Oracle CloudWorld to October, which typically draws 30,000 attendees.
However, despite the drop in visitors, certain parts of the Las Vegas area performed better. The LVCVA reported that Laughlin and Mesquite experienced an increase in visitation, with numbers up 9.6% and 7.3%, respectively. Still, the city’s overall tourist volume reflected a broader regional dip in performance.
Despite the decrease in visitors, the city’s gaming industry showed mixed results. Gaming revenue from the Las Vegas Strip dropped by 5.5% to $687.8 million in September, contributing to a statewide decline of 2.3%. Nevertheless, the statewide gaming win still surpassed $1 billion for the month. As reported by Las Vegas Review-Journal, in Clark County, casino win totals remain healthy, particularly when considering the Strip’s 85% contribution to Nevada’s total gaming revenue.
Hotel room rates in Las Vegas also dropped, with the average daily rate decreasing by 2.9% to $190.56. Despite this, the rate was still slightly above the annual average of $180.07. The decline in room revenue contributed to a 9% dip in revenue per available room (RevPAR), a key profitability metric, which fell to $149.47.
While tourism numbers slumped during the week, weekends in Las Vegas saw stronger performance, bolstered by major events. Allegiant Stadium hosted a highly anticipated middleweight boxing championship between Canelo Alvarez and Terence Crawford on September 13, 2025. Other major events included concerts by Bruno Mars, Janet Jackson, and Rod Stewart, which helped drive foot traffic to the city, particularly during evenings.
Additionally, while Las Vegas faced declines in hotel occupancy, key events and gaming still contributed positively to the weekend’s performance. As reported, hotel room rates on the Strip held steady with a slight drop of 1.5% from the previous year, at $206.54. Meanwhile, Downtown Las Vegas saw more significant price reductions, with room rates averaging $98.83, down from $107.25.
Traffic and Airport Decline
Though visitor numbers to Las Vegas suffered, some transportation figures showed slight improvements. The Nevada Department of Transportation (NDOT) reported a 3.4% increase in daily vehicle traffic on major highways entering Las Vegas, with 43,101 daily vehicles recorded on Interstate 15 at the California-Nevada border. On the other hand, Harry Reid International Airport reported a 6.4% decline in air passenger traffic, with just over 4.5 million passengers passing through the airport in September.
Despite a decrease in visitor volume, Las Vegas’s gaming win is not entirely reflective of the downturn. In fact, the Strip’s gaming revenue, though down, remains stable thanks to strong slot performance. Gaming analyst Daniel Politzer noted that while baccarat play on the Strip experienced volatility, overall slot performance remained strong. For the first quarter of the 2025-2026 fiscal year, Nevada’s gaming win was up by 2.3%, with Clark County contributing a substantial portion of the increase. As of the end of September, the state had collected $87 million in gaming taxes, marking a 12.3% decrease from the previous year.
Looking ahead, the LVCVA anticipates a recovery in visitor numbers, particularly as conventions return to the city later in the year. The fourth quarter of 2025 and 2026 are expected to see increased attendance as major events and conventions come back to the city’s calendar. Additionally, the LVCVA’s “Fabulous 5-Day Sale,” launched late in September, generated strong leads, helping boost online traffic and social media buzz. Kate Wiki, Chief Marketing Officer of the LVCVA, emphasized the value of this campaign, highlighting the ongoing appeal of Las Vegas even amid tough market conditions.
