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Visitations to Las Vegas declined significantly in 2025, but the broader gaming economy showed resilience as online casinos and online sports betting surged, helping cushion the blow from fewer tourists.
While total visitors were the lowest since the post‑pandemic recovery in 2021, strong performance in online wagering, along with major event bookings and a robust convention calendar, points to a potentially stronger 2026 for the city’s hospitality and gaming sectors.
Las Vegas tourism declines in 2025
The Las Vegas Convention and Visitors Authority (LVCVA) reported 38.5 million visitors in 2025, a 7.5% drop from 2024 and the lowest tally since 2021. Compared with 2016 — Las Vegas’ best year with 42.9 million visitors — the decline totaled 11.4%.
December marked the 12th straight month of visitation decreases. That month’s 3.1 million visitors represented a 9.2% drop from December 2024. Hotel occupancy slid 5.8% to 76.1%, the average daily room rate declined 5.1% to $183.87, and revenue per available room fell 8.8% to $158.62.
A bright spot: December’s convention attendance rose 9.6% from a year earlier to 306,000, though total 2025 convention attendance held flat at 6 million, about 10% under the record set in 2019.
CEO highlights resilience
LVCVA President and CEO Steve Hill acknowledged the downward trend but emphasized Las Vegas’ scale and its ability to adapt.
“Las Vegas operates at a scale that few destinations can match, and 2025 required us to remain nimble as conditions evolved,” Hill said. “Convention demand remained steady, the events calendar strong, and the destination continued to adapt in real time.”
Hill cited waning consumer confidence and sociopolitical events as contributors to the visitation decline but remained optimistic about 2026. “Las Vegas remains a category of one,” he said. “Our focus will continue to be providing value to our visitors and delivering experiences that elevate our place as the leading leisure and business destination.”
Online casinos and sports betting help gaming sector
Despite the drop in physical visitors, online casinos and online sports betting helped sustain Las Vegas’ gaming economy. BetMGM, the joint venture between MGM Resorts and Entain, reported a 33% increase in net revenue in 2025 to $2.8 billion, driven by:
- A 24% rise in online casino betting.
- A 63% jump in online sports betting.
The company swung to profitability, with $220 million in EBITDA and a net income of $175 million, reversing the prior year’s losses. BetMGM also returned $270 million in cash to its parent companies.
Executives note that the growth in digital wagering highlights shifting consumer behavior and represents a new pillar of strength for Las Vegas’ broader gaming ecosystem.
Boyd Gaming’s investment confidence
Executives at Boyd Gaming expressed confidence in 2026, citing strong revenue momentum in late 2025 and ongoing expansion, including the upcoming opening of Cadence Crossing in Henderson.
Leadership highlighted that continued investment in traditional hospitality and digital wagering positions Boyd to capture future tourism and convention demand. Their forward‑looking outlook reflects broader optimism within the Las Vegas gaming sector despite the overall visitation decline.
2026 Las Vegas events to boost visitors
Several high-profile events in Las Vegas hope to attract visitors in 2026:
- The Las Vegas Convention Center, recently renovated for $600 million, is projected to host roughly 1.2 million trade show attendees — about 200,000 more than in 2025.
- ConExpo, a major construction industry trade show held every three years, is expected to be among the top three largest shows in attendance.
Other marquee events include WrestleMania 42 in April, UFC International Fight Week in June, the Formula One Las Vegas Grand Prix in November and the National Finals Rodeo in December. The city also expects increased tourism tied to the 2026 FIFA World Cup as a fan viewing destination, the US 250th anniversary celebrations and hosting the first‑ever national college football championship game at Allegiant Stadium in January 2027.
Las Vegas outlook 2026
While 2025 visitation figures fell short of past performance, the rise of online casinos, online sports betting and a packed events calendar point to resilience and adaptation within Las Vegas’ tourism and gaming ecosystem. Industry leaders say these trends, combined with strategic investments and marquee events, could help reverse the downturn and position the city for growth in 2026 and beyond.
