Nevada Casinos Post Record July Revenue Despite Tourist Decline

Nevada’s casinos had one of their strongest months on record in July, pulling in $1.36 billion in gaming revenue, even as fewer visitors came through the doors. The state’s seventh-highest monthly win underscored the enduring pull of gambling, with the Las Vegas Strip leading the charge.

Strip Surges While Tourists Stay Away

The numbers tell a fascinating story. The Strip generated just over $749 million in revenue, a rise of 5.6% compared with July 2024. That’s a strong gain, especially against the backdrop of fewer visitors — the Las Vegas Convention and Visitors Authority (LVCVA) reported a 12% decline in visitation, down to just under 3.1 million people.

June had already shown an 11% fall in visitors, making July the second month in a row with double-digit drops. For a city that thrives on foot traffic, that’s unusual. Yet, despite emptier sidewalks and hotel lobbies, the tables and slot machines were busier than expected.

It’s a paradox: fewer people, but more money spent. Analysts say this hints at a different type of visitor coming to town — fewer budget travellers, more high-rollers and wealthier tourists.

Big Spenders Make Up the Difference

Industry experts suggest that while overall tourist numbers have shrunk, the quality of spend has gone up. Some argue that international visitors, who often gamble in larger sums, are returning after pandemic-related disruptions. Others point to domestic tourists who, though smaller in number, are staying longer and spending more per head.

One sentence to note here: high-spending visitors can outweigh a drop in volume.

The Nevada Gaming Control Board (NGCB) noted that baccarat — a favourite among international high-rollers — showed strong performance, alongside table games and slots. That aligns with the theory that fewer but richer visitors are driving the gains.

• Baccarat winnings rose sharply compared with last year.

• Slot machines, still the bread and butter of casino floors, maintained steady growth.

• Sports betting revenue, however, cooled slightly as the summer calendar slowed.

Together, these figures helped prop up the total even as foot traffic slowed.

Historical Perspective: Where July Stands

To put the $1.36 billion in context, July 2025 ranks as the seventh-best month ever for Nevada’s casino industry. That’s no small feat, given the market’s decades of growth.

Here’s a quick look at where July 2025 fits compared to previous peaks:

This table shows how consistent July has been as a high-revenue month for the state. Summer still matters, even if visitor counts waver.

Tourism Slips But Hotels Stay Busy

While gaming revenue hit records, the hospitality side told a different story. Hotels reported weaker occupancy rates, reflecting the 12% dip in arrivals. Convention attendance was also lower, with fewer big corporate gatherings compared to last year.

Yet, average daily room rates stayed firm. In some cases, they even went higher, as operators sought to squeeze more from fewer guests. That suggests casinos may be offsetting lower volume with pricing strategies across both gaming and non-gaming segments.

One hotel manager described it as “fewer guests, but higher-spending ones,” echoing the revenue data.

Broader Economic Implications

The state’s reliance on gaming taxes means the July performance is good news for Nevada’s budget. Taxes from the $1.36 billion win help fund schools, infrastructure, and public services.

Still, the decline in tourist numbers cannot be ignored. Fewer visitors put pressure on restaurants, shows, ride-share drivers, and the entire ecosystem that thrives around gaming. The Strip may be thriving at the tables, but the ripple effects outside the casino walls paint a more complex picture.

Economists warn that relying too heavily on high-spending gamblers could make the industry more vulnerable. If global economic conditions shift, that segment could dry up quickly. It’s a reminder that gaming revenue can look strong while other parts of the tourism economy quietly suffer.

Looking Ahead to Autumn

The big question now: can Nevada keep up this performance into the autumn months? August often shows a dip after the summer surge, while September tends to hinge on convention traffic and sports events.

NFL season brings renewed sports betting activity, which could help offset slower slot play. Conventions scheduled for late September may also draw in large groups, potentially reversing the trend of declining visitors.

But for now, July stands out as an oddity — a month where fewer people came to town, yet casinos made more money than almost any other time in history.