Gaming Gains Amid a Visitor Drought
When the neon lights of the Strip flicker a little brighter than usual, it’s not always because more tourists are strolling the boulevard. August 2025 proved that point. The Nevada Gaming Control Board disclosed that the state’s total casino win jumped to $1.23 billion – a 5.4% lift over the same month a year ago – even as the Las Vegas Convention & Visitors Authority reported a 6.7% dip in the number of guests. In other words, the money is still flowing, but the foot traffic is thinning out.
Strip Revenue Hits a Summer High
On the famed Strip, operators collected $679.3 million in August, marking an 8.3% year‑over‑year surge. That’s the strongest summer showing since the pre‑pandemic era, and it wasn’t a fluke. Downtown Las Vegas matched the 8.3% increase, Laughlin surged ahead with a 10.8% jump, and the Boulder Strip‑Mesquite corridor posted gains north of 9%. A quick bullet‑point recap:
- Downtown Las Vegas: +8.3% YoY
- Laughlin: +10.8% YoY
- Boulder Strip & Mesquite: >+9% YoY
The Baccarat Surprise
What’s really turned heads is the resurgence of baccarat. The classic high‑roller game saw its revenue climb a staggering 51% compared with August 2024. But the story isn’t about more people sitting at the felt; it’s about the casino’s edge. The hold rate – the slice of each bet the house keeps – jumped from 10.5% last year to 18.5% this August, even as the total amount wagered slipped roughly 14%.
Put simply, the tables are taking a bigger cut of each bet. Over the June‑August stretch, baccarat’s contribution to the Strip’s earnings rose 29% versus the same period a year earlier, underscoring how a tighter margin can outweigh a dip in volume.
Mobile Sports Betting Adds Fuel
While baccarat tightened its grip, mobile sports betting fanned the flames of growth. Strip‑wide sports wagering climbed 15% in August, largely thanks to bets placed on smartphones and tablets. The convenience of wagering on the go appears to be paying off, especially as traditional foot traffic wanes.
Slots, the usual workhorse, were essentially flat year‑over‑year, suggesting that the upside is coming from the table games and the digital sportsbook rather than the slot machines that dominate the casino floor.
Tourism Trends: A Persistent Decline
The LVCVA’s August visitor count settled at about 3.2 million, a drop that marks the eighth straight month of lower arrivals. Hotel occupancy slipped to 77.5%, four percentage points below the previous year, and the average daily rate fell 7.4% to $162.38. Convention business also shrank, down 8% YoY.
Even the airport reflected the slowdown, with Harry Reid International handling roughly 4.5 million passengers – an 8.5% decline from August 2024. Analysts point to higher travel costs, a dip in overseas tourists, and tighter consumer wallets as the main culprits.
Local‑Focused Operators Thrive
Not every casino is feeling the heat. Companies like Red Rock Resorts and Circa have managed to buck the trend by leaning into the local market and niche offerings. Their strategies – from loyalty programs tailored to Nevada residents to unique entertainment concepts – have helped cushion the blow of a softer tourist pipeline.
Price‑Pain and a Citywide Sale
The tourism slump has sparked a chorus of complaints about Las Vegas’s price tags. Even reality‑TV star Rick Harrison of “Pawn Stars” weighed in, calling resort fees, parking charges, and ancillary add‑ons “insane.” In response, the LVCVA rolled out the first ever citywide “Fabulous 5‑Day Sale” in September, slashing rates on hotels, dining, and shows in an effort to re‑brand the city as a value‑friendly destination.
What the Numbers Mean for the Future
These mixed signals paint a nuanced picture. On one hand, the state’s gaming engine is humming louder than ever, thanks to higher hold rates on baccarat and the digital surge in sports betting. On the other, the dwindling tourist tide threatens to erode ancillary revenue streams like dining, entertainment, and non‑gaming retail.
Industry insiders say the next few quarters will be a test of adaptability. Casinos that can keep the house edge healthy while expanding mobile platforms and local‑centric promotions are likely to stay ahead of the curve. Meanwhile, the city’s promotional push aims to lure price‑sensitive travelers back to the Strip, hoping that a boost in occupancy will eventually translate into higher gaming spend.
Bottom Line
August’s data tells a clear story: Las Vegas’s gaming sector can thrive even when the crowds thin, provided the tables and apps are working smarter, not just harder. Baccarat’s tighter hold and mobile betting’s convenience are the twin engines driving this unexpected growth, while the city scrambles to make its famous hospitality feel a little more affordable.
