Las Vegas visitation declines further in April, coinciding with a dip in gaming revenue for the third consecutive month. According to Shelley Newell, senior economic analyst for the Nevada Gaming Control Board, several Strip properties undergoing renovations may impact visitor numbers. For insights into gaming trends, see our comprehensive article on Las Vegas gambling trends.
Visitation Decline and Gaming Revenue
The Las Vegas Convention and Visitors Authority (LVCVA) reported a 5.1% drop in visitation for April, amounting to 3.33 million visitors compared to 3.51 million the previous year. Year-to-date figures reveal a 6.5% decrease, equating to approximately 900,000 fewer visitors. This downturn persisted despite robust convention and event segments, such as Wrestlemania, which were overshadowed by consumer uncertainty due to evolving federal policies.
Industry concerns including economic inflation and tariff-related apprehensions may weigh heavily on potential visitors’ travel decisions. Harry Reid International Airport also experienced a 3.4% persisting drop in passenger numbers for April, specifically affected by declines among Canadian airlines like Air Canada and WestJet, amid trade tensions between Canada and the U.S. International travel showcased the same downward trend.
Convention Attendance Stabilizes Las Vegas Visitation
Vehicle travel, another critical component of Las Vegas visitation, showed an optimistic rise, with traffic on the I-15 border from California ascending by 7.7% in April. A significant uptick was apparent in convention attendance, achieving about 574,000 attendees, elevated by 13.9% compared to the previous year. This boon emerged thanks to event in-rotation, including the International Sign Expo, American Urological Association, and the Carwash Show, amongst others.
Impact of Gaming Revenue and Travel Patterns
Hotel occupancy rates also experienced minor fluctuations, dropping one point to 84.5%, and facing mixed bag of peaks and dips during varied times of the week. While weekend occupancy improved marginally to 93.8%, midweek trends showed a slight decline to 81.2%. The Strip’s occupancy demonstrated a modest decrease of 0.4 points to 87.6%, whereas downtown occupancy fell more considerably, by 2.6 points to 72%.
Meanwhile, room rates increased, with an average daily rate of $190, reflecting a 4.4% year-over-year growth. Revenue per available room broadened by 3.2%, averaging $161. To gain more insights on U.S. gambling trends, read more at Legal Sports Report.
