Las Vegas Strip Gaming Revenue Climbs 8.2% Amid Persistent Tourism Decline
Casinos in Nevada posted $1.35 billion in gross gaming revenue (GGR) in October 2025, up slightly from the $1.28 billion reported a year earlier.
That’s a 4.9% increase, according to figures released by the Nevada Gaming Control Board, and it marks the 56th straight month that statewide gaming revenue has topped $1 billion.
The Las Vegas Strip saw a surge in gaming win, reaching $48.8 million, an 8.2% increase from the previous year. Baccarat stole the show, surging 69.4% to $116.4M on an 18.6% hold and an 8.5% higher drop.
Other table games rose 9.8% to $214.2M, powering the Strip’s strongest performance statewide.
Slots told a different story. Despite a 3.0% bump in slot handle on the Strip, overall slot win fell 2.4% year over year, underscoring the Strip’s growing dependence on premium, high-limit play to shield it from softer mass-market activity.
October aligns with the 2025 calendar pattern of baccarat boosting overall gaming figures, with similar spikes in February, July, and August, and a weakness in September due to a lower baccarat hold.
Nevada’s gaming win showed mixed results across regions. Clark County casinos edged up 0.2% to $273.9m, and North Las Vegas saw an 8.3% increase to $24.3M.
Downtown Las Vegas fell 0.2% to $86.6M, the Boulder Strip dropped 8.9% to $78.6m, and Laughlin fell 5.2% to $42M.
In Northern Nevada, Reno rose 0.3% to $68.3m, Sparks surged 16.5% to $16.8M, and Elko County posted a 5.4% increase to $33.4M. Lake Tahoe declined across both the North and South shore, while Mesquite rose 5.6% to $17.2M.
These gaming gains are occurring at a time when tourism appears to be weakening. The Las Vegas Convention and Visitors Authority reported 3.4 million visitors in October, down 4.4% and marking the tenth consecutive month of declining visitation.
Through October, year-to-date arrivals are down 7.6% compared to 2024.
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Hotel metrics also declined: overall occupancy fell 2.0% to 83.7%, Average Daily Rates dropped 6.0% to $203.88, and Revenue Per Available Room declined 8.2% to $170.65.
On the Strip, occupancy was 86.0%, down 1.8%, with ADR averaging $219.56, down 5.5%.
Notable developments included convention volume, which increased 7.9% to 603,600, driven by Oracle CloudWorld's shift to October.
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Vigorous gaming activity, supported by high-limit baccarat and increased international play, continues to outpace softer tourism trends.
High room rates and a 13% decline in international visitors continue to be a drag on mid-market and leisure demand.
Nevada collected $83.7 million in percentage fees from October gaming revenue, representing a 5.0% increase from the prior year.
The state’s next major data release, including November results and the impact of the Las Vegas Grand Prix, is scheduled for December 30, 2025.
