Casino revenue on the Las Vegas Strip through nine months of the year is now down 0.2% after September marked the third consecutive monthly decline.
The Nevada Gaming Control Board released its monthly gross gaming revenue (GGR) report for September, revealing a 3.3% statewide win increase to $1.31 billion, while GGR on the Las Vegas Strip fell by 1.8% to $727.6 million. The primary culprit behind the decline was baccarat.TRUSTED PARTNER ✅ The table game, favored by Asian gamblers, saw a significant dip in performance. The 24 Strip casinos that offer baccarat reported a dramatic 40% year-over-year decline in hold, generating GGR of $88.5 million—down nearly $59 million from the previous September. The hold rate for baccarat last month was just 17% compared to 22% the previous year.
“The decline is being driven by difficult hold comparisons,” explained Michael Lawton, the NGCB’s senior economic analyst, highlighting the ongoing struggles on the Strip.
Fortunately, the Strip’s losses were significantly offset by gains in downtown Las Vegas and other parts of Clark County, areas less dependent on baccarat. Downtown GGR surged by 33% to $91 million, Boulder revenue rose 19% to $80.4 million, Mesquite win climbed 2% to $14.1 million, and the balance of Clark County was up almost 16% to $156 million.
Statewide, slot machines led the year-over-year increase, winning $896.9 million—a 10% gain. However, table game winnings fell roughly 15% to $335.1 million. Nevada oddsmakers saw a 30% increase in sports betting revenue, keeping $80.9 million of the $764.6 million wagered.
July, August, and September marked the first time since March through May 2019 that Las Vegas Strip GGR declined for three consecutive months. September’s results also pushed Strip revenue into negative territory for the year.
Concerns about slowing leisure travel have been raised, but Lawton asserts that baccarat is chiefly to blame for the downturn. When baccarat is excluded from the tally, the Strip’s quarterly GGR is actually up 3.4% or $60.8 million, and the state is up 3.3% or $114.2 million. Despite baccarat’s poor performance, the statewide gaming win for the year remains up by 1.2%, approximately $140 million, making the total GGR around $11.54 billion.
Visitor volume showed improvement alongside the gaming report. According to the Las Vegas Convention and Visitors Authority (LVCVA), about 3.39 million people visited Las Vegas in September, a 1.6% increase from the same month last year. Conventions played a significant role in this boost, with attendance growing by 29% to 527,200 attendees. Hotel occupancy also increased by 1.3 points to 83.9%, though the number of available hotel rooms declined due to the Mirage’s closure in July.
Despite the influx of visitors, the average nightly rate for rooms in Las Vegas saw a decrease of about 3%. Strip hotel rooms averaged $210 per night, while other Las Vegas rooms went for $196—both figures exclude resort fees and taxes.
Finally, Harry Reid International Airport reported a slight slowdown in passenger traffic for September, with the facility serving about 4.75 million arriving and departing travelers, marking a 0.8% decrease from the previous year.
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