The Nevada Gaming Control Board released its final revenue figures for the Las Vegas Strip in 2025, revealing a downturn in monthly performance driven primarily by a slump. Statewide gaming win for December reached 1.44 billion dollars, representing a 1.55 percent decrease compared to the same month in 2024. Despite the drop, the state maintained its streak of monthly wins exceeding the 1 billion dollar threshold for the 58th consecutive month.
The Las Vegas Strip remained the primary point of concern for state regulators. Casinos in the resort corridor generated 827.7 million dollars in gaming revenue during December, a 6.1 percent decline from the 881.3 million dollars reported the previous year. This significant decrease on the Strip accounted for the bulk of the statewide losses and was attributed to several factors including lower hold percentages in baccarat and slot machines.
Senior economic analyst Shelley Newell noted that while the volume of betting remained relatively stable, the actual win for house operators decreased. On the Strip, baccarat win plummeted by 20.7 percent even as the volume of play actually rose by 1.4 percent. Similarly, slot machine coin-in reached an all-time high of 6.4 billion dollars, yet slot win fell 6.9 percent because the hold percentage was lower than a year ago.
While the Las Vegas Strip struggled, other areas of Clark County and the state reported gains that helped mitigate the impact. Downtown Las Vegas saw a 4.67 percent increase in revenue to 86.1 million dollars, largely driven by table games. Other sub-markets including the Boulder Strip and Laughlin also saw year-over-year increases of 9.03 percent and 9.83 percent, respectively.
The lackluster December on the Strip coincided with a cooling of tourism metrics. Visitation to the city fell by 9.2 percent for the month, totaling 3.1 million people. This brought the annual visitor total to 38.5 million, a 7.5 percent decline from 2024. For the full calendar year, the Strip ended essentially flat with 8.82 billion dollars in total win, while the state as a whole set a new annual record of 15.8 billion dollars.
