$687M gambling industry sees decline on Las Vegas Strip

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(The Center Square) - The Las Vegas Strip saw a considerable drop to its $687 million gaming industry in September, along with continued declines in tourism.

Gaming revenue along the strip in September slipped from last year, in what was the first year-to-year decline since May.

But there's nothing to worry about, according to state officials.

“For this next year, we expect to see stable and consistent numbers,” Shelley Newell, senior economic analyst from the Nevada Gaming and Control Board, told The Center Square. “Nevada has continued to record gaming win amounts in excess of pre-pandemic levels this month.”

The 2025 drop in revenue represented the second year in a row of September year-over-year declines on the Las Vegas Strip. But it came after a 108% skyrocket post-pandemic growth between September 2020 and September 2023, according to the Nevada Gaming Control Board.

The state also highlighted growth in other gambling markets around Nevada.

“September 2025 represents the 55th consecutive month that the state has recorded $1 billion in monthly gaming win,” said Newell.

Jennifer Morton, public information officer for the Nevada Gaming Control Board, told The Center Square that September “was an unfavorable calendar compared to September 2024 with one less weekend day."

Newell also said some specific casino games saw increased volume this year, but not as much revenue for the casinos as in September 2024.

“The play was there as volume was up, just not the win,” said Newell. “Baccarat win on the Strip, for example, was down, but the volume was up 15.4%.”

The lost gaming revenue comes as the Las Vegas area sees an 8.8% decline in year-over-year tourism, as per the Las Vegas Convention and Visitors Authority.

Newell said tourism was one of “many factors [that] can impact the swings back and forth each month."

The board’s tax collection results were worse than gaming losses, a 12.4% decline to $87 million from September 2024.

The Las Vegas Convention and Visitors Authority did not comment on the tourism decline rates for this story.

Newell said the state isn't worried. 

“Based on discussions with licensees, they are expecting a stronger 2026,” Newell said. “Based on the data, I expect to see consistency and stability.”