Gaming win and tourism flat in September as Las Vegas air traffic slump continues
The latest round of monthly data showed that gaming revenue and visitation to Las Vegas were largely flat in September, while air traffic to America’s gambling capital continued to lag.
Strip gaming revenue was $693.4 million, per the Nevada Gaming Control Board, which was within 1% of the prior-year period. The market is now +1.7% ahead of last year’s pace through this point of the fiscal year. Statewide gaming revenue was almost exactly flat at $1.28 billion, and Nevada as a whole is also trending at about +1.7% year-over-year.
On a granular level, the Strip was boosted by a $55.4 million baccarat win, which is lower than average but still nearly 10% higher YoY. The Strip has now won $1.5 billion on the game over the trailing 12 months, which nearly matches the total generated by all other table games during that span.
Visitation, meanwhile, was flat in September at just over 3 million visitors, according to the Las Vegas Convention and Visitors Authority. Visitor volume has vacillated from positive to negative in each of the last six months, after finishing negative in every month in 2025.
Worrying travel metrics
Total occupancy for the Las Vegas area overall was flat (-0.5%) in September, but other performance metrics struggled. Average daily room rates for the area were down 6% YoY and 10% for the Strip specifically, and revenue per available room fell 12% on the Strip and 7% for the overall market, per the LVCVA.
Additionally, air traffic at Harry Reid International Airport continued to lag, as September’s total of 4 million passengers represented an 8% decrease YoY. After a 6% traffic decline in 2025, Reid is tracking for an even bigger regression this year, as the year-to-date pace is currently -7%. One bright spot in September was a 6% increase in international travel.
Steep increases in fuel and airfare costs are weighing on all US travel, especially to leisure markets. On the MGM Resorts third-quarter earnings call on Wednesday, MGM CEO Bill Hornbuckle said domestic airfares have risen more than 10% since March and pricing to Las Vegas specifically has skyrocketed more than 40% since last summer. MGM reported Las Vegas revenue and EBITDA declines in Q3, as did its competitor Caesars Entertainment.
Elsewhere in Nevada
Gaming performance varied widely among other southern Nevada markets. Downtown Las Vegas (82.5million)wasdown7.5%YoY,whilethelocalsmarket(154.2 million) slipped 3% and Laughlin (33.7million)fell16%,theworstintheregion.Conversely,NorthLasVegas(25 million) had the best month in the area at +9%, and the Boulder Strip ($83.2 million) was flat.
To the north, Reno’s GGR fell 3.5% to about $73 million, which is something of a rare miss for the Biggest Little City after a standout streak of performance since the start of last year. Unlike Las Vegas, Reno is having its best stretch ever in terms of visitation and room revenue — the market set monthly hotel revenue records every month from January through June, and August’s total was a new record for any month on record.
With regard to sports betting, statewide GGR was flat at 54million.Thebulkofthattotal(31 million) came via mobile betting. With NFL and college football seasons in full swing, Nevada sportsbooks won $35.5 million on football betting in September, representing a 7% increase over last year.