Nevada Casinos Win $1.28B in September as Room Rates Fall

Nevada casinos won $1.28 billion in September, nearly matching their September 2025 total. The Nevada Gaming Control Board released the figures on Oct. 28. Statewide gaming win slipped just 0.05%, while the Las Vegas Strip edged up 0.82%.

Visitation was nearly flat too, rising 0.2% to about 3.1 million visitors. Hotel room rates, however, fell 6.3% from a year earlier. Third-quarter reports from MGM Resorts, Caesars Entertainment and Boyd Gaming showed weaker Las Vegas results. Together, the data point to steady gaming win but softer hotel performance.

Nevada Gaming Win Holds Steady as Downtown Las Vegas Slips

Statewide gaming win totaled $1,282,542,554 in September, down 0.05% from September 2025. Clark County casinos won $1,087,617,096, down 0.95%. That figure, which includes the Strip, made up about 85% of the statewide total.

The Las Vegas Strip reported $693,467,182 in gaming win, up 0.82%, while Downtown Las Vegas won $82,569,202, down 7.45%. Through the first three months of the fiscal year, which began July 1, statewide win reached $3,934,878,439, up 1.67%.

Percentage fee collections, which are based on September's taxable revenue, totaled $81,119,843 through Oct. 20, down 6.77% from a year earlier.

Las Vegas Visitation Steady as Hotel Room Rates Drop

The Las Vegas Convention and Visitors Authority estimated September visitor volume at 3,097,200, up 0.2% from September 2025. Convention attendance rose 1.8% to about 436,200. That was the largest gain among the LVCVA's key measures.

Hotel figures were weaker. Citywide occupancy slipped 0.5 percentage points to 78.1%, while the average daily room rate fell 6.3% to $178.63. Revenue per available room (RevPAR) dropped 6.9% to $139.51.

Rooms stayed mostly full, but hotels charged less to fill them.

Lower rates weighed on hotel revenue even as visitor numbers held steady.

September's slight increase followed a 4.3% year-over-year drop in August, when visitor volume totaled 3,034,900.

MGM, Caesars and Boyd Report Softer Las Vegas Q3 Results

MGM Resorts reported Las Vegas Strip net revenue of $1.95 billion for the third quarter, down 2% year over year. Segment adjusted EBITDAR fell 12% to $531 million. Strip occupancy held at 89%, but RevPAR fell 8% to $193. Still, CEO Bill Hornbuckle noted that trailing 12-month Strip EBITDAR  "has grown by nearly 70% since calendar year 2019." He added that lower third-quarter room rates hurt results, but October has rebounded.

Caesars' Las Vegas net revenue fell 2.3% to $930 million. Its adjusted EBITDA dropped 9.5% to $343 million.

Boyd Gaming CEO Keith Smith cited "increased softness in destination business to Las Vegas." The company's Downtown Las Vegas revenue fell about 11% to $47.4 million from $53.2 million.