Chavdar Vasilev is a journalist covering the casino and sports betting market sectors for CasinoBeats. He joined CasinoBeats in May 2025 and reports on industry-shaping stories across the US and beyond, including legislative debates, market...
Read Full BioOctober marked another month in Las Vegas’ ongoing trend: higher gaming revenue while the city recorded another month of declining visitation, underscoring a widening divide between casino performance and the broader hospitality economy.
New data from the Nevada Gaming Control Board (NGCB) and the Las Vegas Convention and Visitors Authority (LVCVA) show that while casino floors remain profitable, fewer people are coming to town, and those who do are spending less outside the casino.
October Gaming Win Rises Despite Softer Tourism
Clark County casinos generated $1.17 billion in gaming win in October, a 5% year-over-year increase. The Strip accounted for $748.9 million, an 8.2% increase, driven by strong table-game hold and consistent high-end play.
Statewide, gaming win reached $1.35 billion. That marked Nevada’s 56th consecutive billion-dollar month.
According to analysts, the extra Friday in October provided a modest boost. A higher hold percentage for baccarat and other table games, similar to previous months, also drove the numbers.
Still, the broader picture remains the same: high-end gamblers continue to drive revenue, while lower-budget visitors remain cautious.
Tourism Declines Deepen in October
Las Vegas welcomed 4.4 percent fewer visitors in October compared to the same month in 2024, marking the tenth consecutive month of declining visitation. That slump weighed heavily on hotel and hospitality metrics:
- Hotel occupancy: down to 83.7%
- Average daily room rate: down 6% to $203.88
- Revenue per available room: down 8.2% to $170.65
Operators Express Optimism — But it’s Forward-Looking
While October visitation figures were disappointing, operators remain optimistic. During their Q3 earnings, both MGM Resorts and Caesars Entertainment emphasized positive signals about what lies ahead.
MGM told investors its premium customers remain steady, its convention calendar for late 2025 and 2026 looks strong, and it sees meaningful upside once group business fully normalizes.
Similarly, Caesars said early Q4 indicators suggest better results than those seen earlier in the year. While acknowledging uneven summer results, the company emphasized stability in higher-value guests and strengthening digital performance heading into the fourth quarter.
Both companies framed Las Vegas not as a market in decline, but one in transition. CEO Tom Reeg reiterated that Caesars’ recovery in Las Vegas is on track. He predicted 2026 to be a record year.
Meanwhile, MGM CEO Bill Hornbuckle said the company “feels good” about the fourth quarter and its outlook for 2026.
Good Month for Conventions
One bright spot in October’s visitation was the convention sector. LVCVA figures show 603,600 convention attendees, a 7.9 percent year-over-year increase. Oracle CloudWorld — drawing around 30,000 guests — provided a notable boost.
Resort executives said they expect conventions to play a larger role in the near future, which could help stabilize midweek occupancy and provide a counterbalance to declining leisure visitation. Hornbuckle recently described the upcoming convention cycle as one of the most promising in the city’s history.
