Las Vegas room rate analysis reveals softening in the market, according to Barry Jonas, an analyst at Truist Securities. He observed a decrease in room rates following the initial hike in April, with further softening through May and into June. Jonas detailed these findings in a report published on June 3. For more insights on Vegas trends, visit our comprehensive guide on Las Vegas online casinos.
Fluctuating Rates: MGM and Caesars
MGM Resorts International saw a four percent decline in April with a further three percent in May and a seven percent drop for June bookings. In contrast, Caesars Entertainment properties experienced a 17 percent increase in April, though rates dipped by seven percent in May before rising slightly in June.
July showed additional declines, with MGM’s advance bookings falling by one percent and Caesars’ dropping six percent. Jonas remarked that recent surveys show a stable to slightly positive trend relative to prior weeks.
Weekend vs. Midweek Trends
Weekend rates experienced significant reductions in May, traditionally busy periods in Las Vegas, with MGM dropping eight percent and Caesars plunging 18 percent. Midweek rates, however, remained more stable, as MGM’s rates climbed 12 percent while Caesars saw an eight percent decrease.
The analysis for June continued to indicate slowdowns, with MGM falling one percent on weekends and midweek rates declining by 12 percent for both MGM and Caesars. For context on how this affects gaming revenue, you can explore industry data from the American Gaming Association.
Jonas labeled July bookings as “less bad … but still down” compared to 2024, reminding that the limited data set is subject to change as more information appears and short booking windows may cause fluctuations.
