Las Vegas Tourism Chief Warns Nevada Forecasters of Further Headwinds

Las Vegas's tourism chief told Nevada's economic forecasters this month to expect continued headwinds for the market, following a 2025 in which visitation fell 7.5% to 38.5 million, the lowest total since 2021, and visitor spending declined by roughly $4.3 billion. Softer room tax and gaming fee receipts have already begun to pressure the Las Vegas Convention and Visitors Authority's own budget.

The picture into 2026 has been uneven rather than uniformly weak. January visitation slipped 2.2% year over year to about 3.27 million and Strip gaming win fell 11% to $747.7 million, but May produced an $807.9 million Strip win, up 13.2% and the eighth-best month in state history. Gaming revenue overall is running at roughly 135% of 2019 levels. The shortfall is concentrated in leisure travel, with visitors aged 21 to 29 down more than 10% since 2022, while convention business has held up better.

Operators have acknowledged the pricing complaints behind some of that drift. MGM Resorts executives said this month that the industry's reputation for nickel-and-diming customers had become a problem and that the company has adjusted pricing in response. On the capital side, MGM has completed its $300 million room remodel at MGM Grand, with Aria's refresh scheduled to begin in November and the bulk of construction pushed to summer 2027 to avoid key convention periods.