Las Vegas Strip casinos get sobering visitor news

Post-pandemic, the Las Vegas Strip went through a boom period.

People were stuck in their homes and couldn’t wait to get back to the fun. That’s why 2022 has been a record year for Las Vegas.

“Total economic output related to visitor spending reached a record $79.3 billion in 2022, up 24.7% from the previous record set in 2019.” a report From the Las Vegas Convention and Visitors Authority (LVCVA).

“Following the disproportionate impacts suffered by tourist destinations like Las Vegas during the pandemic, Las Vegas has made a strong recovery as the favorite location for pent-up travel demand. Visitor spending in 2022 has reached an all-time high. $44.9 billionrose above pre-pandemic levels. The total expenditure of visitors in 2022 exceeded the previous year by 24.4% and the 2019 total by 21.8%,“LVCVA shared.

Figures remain strong through 2024, driven by events and congresses, but feelings about the future are mixed.

Barry Jonas, an analyst at Truist Securities, shared that midweek and lower-level holiday travel will remain soft at the end of 2025.

“Comments appear to be improving, led by a strong events calendar (into the fourth quarter) and a more positive outlook for 2026. Everyone we spoke to was expecting record group business in full year 2026,” Jonas wrote in a post. last investor’s note. “While many operators believe Vegas (PR) concerns may be overblown, there is one operator increasingly focused on the importance of delivering greater value at all price points paid for experiences.”

But data shows Las Vegas’ problems run deeper than Jonas thought.

“Harry Reid International Airport reported its sharpest monthly decline of 2025 in November, continuing a yearlong decline in passenger traffic that even this year’s Formula 1 Las Vegas Grand Prix failed to slow,” Casino.org reported.

• 2020: 19.0 million visitors; The epidemic is low due to Covid travel restrictions.

• 2021: 32.2 million visitors; A significant recovery from 2020.

• 2022: 38.8 million visitors; The recovery continued with the resumption of tourism.

• 2023: 40.8 million visitors; The highest total since before the pandemic, a 5.2% increase from 2022.

• 2024: 41.7 million visitors; modest year-on-year growth approaching pre-pandemic levels.
  Sources: Vegas Primer, Casino.org

Preliminary figures for 2025 show some weakness.

“UNLV’s Center for Business and Economic Research (CBER) projects that Las Vegas will host approximately 39.1 million visitors in 2025, a roughly 6% decrease from 41.6 million visitors in 2024. CasinoReviews.Net.

A big reason for the decline in visitors is that President Donald Trump’s trade policies have prevented some foreign visitors from coming to the United States.

“European carriers including British Airways, Virgin Atlantic, KLM and Aer Lingus were flat or slightly up, posting modest gains of between 0.2% and 9%. The real slump came from Canada, which has historically been one of Las Vegas’ most reliable international feeders.” Casino.org reported.

Data provided by Harry Reid International It showed that the drop in visitors was significant.

• Las Vegas International Airport (Harry Reid) experienced a decrease of more than 450,000 passengers in November compared to the same month last year. The total number fell 9.6% to 4.3 million.

• This decline surpassed the 8.2% drop in October and marked the tenth consecutive month of year-over-year declines.

• The last monthly increase in passenger numbers occurred in January, when traffic increased marginally by 0.4%.

• Year-to-date, Reid has processed 50.6 million passengers, down 5.5% from the same period in 2024. December totals will be released at the end of January.
  Source: Harry Reid International media relations

As a frequent visitor to the Las Vegas Strip, I have noticed that prices have increased this year. Resorts now charge for parking and restaurants appear to have reduced portions and increased prices.

It was eye-opening to pay nearly $12 on the Strip for the same Starbucks latte I purchased for under $5.50 at home. And while room amenities remain good even for mid-level gamblers, many other perks like free meals, pool cabanas and show tickets have become scarce.

Famous data expert Nate Silver, who wrote a book about Las Vegas titled “On the Border: The Art of Risking It All,” shared his thoughts about Las Vegas in a recent post on his website.

“Las Vegas is at its best when it creates a sense of abundance. Vegas gamblers are famous for burning the candle at both ends. But if you find yourself exhausted at every turn: rooms are over budget, food is overpriced, And The odds you face at the tables turn even more against you; “You may reconsider your next trip,” he wrote.

Las Vegas Review-Journal It revealed some of the rising costs that readers have been complaining about.

“A $6 or $7 cup of coffee (after coffee machines are removed from hotel rooms), domestic beers selling for $10 or more, cocktails made with premium liquor selling for $25 and more, or fast-food and soft drink combinations costing more than $30 per person are just a few examples of the offensive price points frequently cited by visitors,” the newspaper shared.

Gambling odds for players have also worsened.

“Gammers point to unfavorable gaming conditions, such as 6:5 blackjack, triple zero roulette, or $25 table game minimums during slower times of the day, as reasons to avoid certain casinos,” he added.

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Las Vegas is taking some steps to address this problem.

“I think value is an issue of concern for some of our customers,” LVCVA CEO Steve Hill said during a meeting. press conference. “We are aware of this. The resorts are also aware of this.”

Caesars CEO Thomas Reeg addressed the question of pricing and value during his company’s visit. third quarter earnings call.

“When it comes to the pricing question, we price hundreds, thousands of items every day in Vegas, of course, from rooms and restaurants to ATM fees to everything you buy in Vegas. And we’re constantly adjusting those,” he said.

The CEO acknowledged that his company makes mistakes but defended its overall policies.

“I’m also not ruling out that there are areas in our business and in Las Vegas that may have been overrun in terms of ski pricing. [it] “In that context, you know, when we’re talking about pricing and decreasing demand, we’re in a quarter where our occupancy percentage is over 90% this quarter,” he added.

He noted that Las Vegas serves a wide variety of audiences.

“So, you know, there’s a value trade in Vegas. The great thing about Vegas is there’s something for everyone. Our regional president, Sean McBurney, who does a great job, uses the example that you can come to see Paul McCartney and pay $500 plus a ticket, you’ll find that the same weekend you can see Donnie Osmond for $60. So there’s something at every price point,” he added.

MGM Resorts International CEO William Hornbuckle also touched on pricing during his company’s launch. third quarter earnings call.

“Of course, this growth ebbs and flows on shorter time measurements, and this summer we heard from some of our guests about a value around one in Las Vegas, and we responded by making adjustments to deliver a rationalized premium value experience at all of our properties. We also partnered with a destination for a spectacular five-day sale where we sold more than 300,000 room nights, nearly doubling our typical pace, reflecting strong demand for our experiences,” he said.

Related: Fighting airlines’ filings for Chapter 11 bankruptcy

This story was first published by . Street First appeared on December 26, 2025 Trip section. Add TheStreet at: Preferred Source by clicking here.