Gaming revenue on the Las Vegas Strip declined once again in April, marking the third consecutive month of year-over-year losses for Nevada’s most prominent casino corridor. According to data released by the Nevada Gaming Control Board and cited by KSNV, casinos on the Strip posted a win of $646.87 million for the month, a 2.9% decrease from the $666.06 million recorded in April 2024.

Despite the Strip’s downturn, the overall statewide gaming revenue remained relatively steady, coming in at $1.23 billion. That figure represents just a modest 0.5% dip compared to the same month last year and continues Nevada’s streak of surpassing the $1 billion mark in monthly gaming revenue for the 50th month in a row.

Shelley Newell, a senior economic analyst at the Control Board, said, “Markets overall were stable and consistent,” despite the Strip’s sluggish performance.

Southern Nevada Shows Mixed Results

While the Strip posted losses, other areas within Southern Nevada reported gains. Downtown Las Vegas saw its gaming revenue climb 1% to $83.6 million, while the Boulder Strip, North Las Vegas, and Mesquite all posted increases of more than 4%. In contrast, the Las Vegas locals market remained flat at $164 million.

Across Clark County, total gaming revenue year-to-date is down 1.3%, with the Strip specifically seeing a 3.3% decrease. Downtown, however, is up 2.7%, reflecting resilience in smaller casino markets.

On the northern end of the state, Reno stood out with a 9% jump in revenue, hitting $64.7 million for the month. That boost was enough to push Washoe County into positive territory, making Reno the only contributor to a net gain in the region.

Employee Reductions Amid Market Adjustments

The subdued revenue trends have led to shifts in casino operations. Fontainebleau Las Vegas, a $3.7 billion megaresort that opened in December 2023, recently laid off an unspecified number of table games dealers. Sources familiar with the matter indicated the figure could be between several dozen to as many as 60.

In a statement quoted by Las Vegas Review-Journal, Fontainebleau responded: “We continue to evaluate our business needs and adjust our hiring strategy accordingly. It is a customary practice in every industry and Fontainebleau Las Vegas continues to have a positive impact in the approximate 6,250 current members it employs as well as the multiple vendors and partners associated with the resort.”

The layoffs at Fontainebleau echo broader trends along the Strip, where other properties operated by MGM Resorts International, Caesars Entertainment, Resorts World, and The Venetian have also recalibrated staffing and operations to align with evolving visitor behavior and spending patterns.

Visitor Traffic Slips Despite Convention Strength

Las Vegas experienced a 5.1% drop in visitor volume in April, with 3.3 million people traveling to the city—despite a substantial increase in convention turnout. According to the Las Vegas Convention and Visitors Authority (LVCVA), convention attendance rose 13.9% year-over-year, totaling 573,600 attendees. Events like WrestleMania, the International Sign Expo, and the American Urological Association’s annual meeting helped bolster the city’s convention numbers.

“The dip in overall visitation was counterbalanced by strong convention activity,” said Kevin Bagger, LVCVA’s research director. “Consumer uncertainty with evolving federal policies” was cited as a contributing factor to the broader decline.

Hotel occupancy reflected this mixed picture. Citywide occupancy fell by one percentage point to 84.5%, while weekend rates slightly improved to 93.8%. Midweek bookings dipped to 81.2%. Average room rates were up, with the Strip seeing a 4.4% increase to $203.17 and downtown rates rising by 4.5% to $100.87.

Air travel also tracked downward, with Harry Reid International Airport recording a 3.6% decrease in passengers to 4.7 million. Airlines like Spirit and Southwest saw notable reductions in traffic, and international travel fell 3.4%, led by double-digit drops in Canadian carriers such as Air Canada and WestJet.

Industry Outlook Remains Cautious

Although some market segments are holding steady, the broader sentiment within the casino industry is one of caution. Executives have downplayed the impact of recent tariff concerns and shifting federal policies, yet visitation data and staffing decisions suggest a more conservative approach is underway.

Nevada collected $68.05 million in gaming taxes for April, consistent with previous months. Additionally, disciplinary fines over the past quarter totaled $24.5 million from actions involving major casino operators, including Resorts World, MGM Resorts, and Wynn Resorts.

While baccarat performance—a key indicator for Strip revenue—rose 41% year-over-year to $108.3 million, the game has still seen declines of 27% over the past three months and 15% over the past year, pointing to ongoing volatility in high-stakes gaming.

Looking ahead, the LVCVA has forecasted a 5% decline in room tax revenue for the upcoming fiscal year, reflecting ongoing uncertainty in the tourism landscape.