Las Vegas casinos are currently facing a complex landscape characterized by record-high gambling revenues alongside a significant decline in overall tourism. In 2025, visitation dropped by 7.5% to approximately 38.5 million travelers—the sharpest annual decline in half a century excluding the pandemic years. Despite this, the Las Vegas Strip reported a record $8.82 billion in gaming revenue for 2025 as higher spending from remaining visitors offset the lower traffic. Current Industry Trends

Who Needs Las Vegas When You Have a Casino in ... - Barron's