Vegas casinos dubbed “greedy”
Harrison, while speaking to Fox News, said that the “COVID hangover” caused businesses to become greedy, ultimately leading to the tourist-dependent city drying out.
“I also blame the casinos on the Strip a little bit,” he said. “I mean, they've gotten a little insane with their prices.
“I've heard so many people complain,” he continued. “They go to a hotel, they go to check out. And there's $500 in stupid fees on their bills — resort fees and parking fees and this fee and that fee.”
While several executives have downplayed the significance of the recent tourist decline, the changing figures are still noteworthy.
Hotel occupancy and the average hotel room cost are down 6.5 and 6.6 percent, respectively, per the LVCVA.
“You have to evolve or die,” said Harrison. “You have to give your customers what they want and not p--- your customers off,” he said. “Customers need to be happy to be with you. And it's just… it's a good business plan.”
Panic or patience?
Despite the declining tourism, Vegas casinos had a strong month in July. Gaming revenue rose 5.6 percent year-over-year to $749.1 million, while casinos’ win rate was up 3.6 percent to $74.4 million.
“I want to take this opportunity to emphasize that Las Vegas remains fundamentally solid,” MGM Resorts CEO Bill Hornbuckle said on an earnings call while discussing MGM’s business on the Strip.
“It's really, get out of the group-light third quarter and into the group-heavier fourth quarter, first quarter, second quarter [of 2026], when we have significant business booked,” Caesars Entertainment CEO Tom Reeg added.
Robby Starbuck, conservative activist and host of “The Robby Starbuck Show,” took a different approach to the conversation. He said the rise of online gambling, including the rapid expansion of online sports betting, has motivated gamblers to stay closer to home rather than traveling to Nevada.
“Now nearly everyone under 40 who bets seems to do it online,” Starbuck told Fox News Digital this week. “I don’t know one person under 40 who goes to Vegas regularly to bet or play slots.”
Vegas has recently stepped up its efforts to expand its list of attractions beyond gambling. It secured relocations of the Las Vegas Raiders, Oakland Athletics, and Las Vegas Aces, and received a NHL expansion team, the Vegas Golden Knights. It’s also the rumored location of a future NBA expansion team and recently hosted March Madness and F1 events.
