Overview
- Las Vegas visitation fell 8.8% in September to just under 3.1 million, hotel occupancy slid to 78.7%, and the average daily rate dipped to $190.56 as RevPAR declined 9%.
- Strip gaming revenue dropped 5.5% to $687.8 million, driven by a 42.7% fall in baccarat revenue on lower hold, while Clark County and statewide win still topped $1 billion.
- Caesars reported $952 million in Q3 Las Vegas revenue, down nearly 10%, with average daily rates down a little over 6%, occupancy off about five points — roughly 90,000 room nights — and lower table hold reducing results by about $30 million.
- MGM posted $2.0 billion in Q3 Strip revenue, down nearly 7%, as room revenue fell 11%, occupancy eased to 89% from 94%, and ADR reached $236, with executives pointing to signs of Q4 stabilization and completed MGM Grand room upgrades.
- The LVCVA’s late-September 'Fabulous 5-Day Sale' generated strong interest, including more than 300,000 MGM room nights sold during the promotion, as operators forecast record group bookings in 2025 and further strength into 2026.