Some good news coming from the Las Vegas Strip - it reported an increase in its January earnings, the second-best January yet. After nearly half a year of steady decline, it made a comeback in the beginning of the year with an increase in casino revenue to $840 million - a significant rise of 22.5% in the first month of 2025 alone.

The Las Vegas Strip is making a remarkable comeback, kicking off 2025 with a powerful resurgence in gaming revenue after a six-month streak of year-over-year declines. In January 2025, the Strip's gross gaming revenue soared by 22.5% compared to the same period in 2024, totaling an impressive $840 million.

On Thursday, the NGCB, or the Nevada Gaming Control Board, released its latest gaming figures, which painted a positive picture for the industry. The gains were primarily driven by table games and sports betting, with revenue in these categories skyrocketing by 46% to nearly $415.7 million. Slot machines also contributed to the strong performance, collecting $424.4 million from players.

Nevada's second-best January ever

Statewide, Nevada's total GGR reached $1.44 billion, marking a 12.5% increase from January of 2024. This achievement makes January 2025 the second-best month in the state's gaming history, as well as the second-best January on record for the Las Vegas Strip.

Michael Lawton, senior economic analyst for the NGCB, suggested that part of this robust performance may be attributed to a favorable comparison with January 2024, which saw softened revenues. Lawton noted that many visitors postponed their trips last year to align with Las Vegas hosting Super Bowl 58 at Allegiant Stadium on the 11th of February, 2024.

Additionally, the calendar played a role in boosting numbers. The transition from 2024 to 2025 saw New Year's Eve fall midweek, prompting many visitors to extend their celebrations and gaming activities well into the week. This prolonged stay likely contributed to the higher revenue figures.

Growth beyond the Strip

While the Strip led the way in Nevada's gaming recovery, other markets also experienced positive growth.

  • North Las Vegas: Revenue increased by 5% to $23.8 million.
  • Mesquite: GGR climbed by 10% to $17.4 million.
  • Clark County: Overall, the county reported a 13% growth, with nearly $1.27 billion in total gaming revenue.
  • South Shore Lake Tahoe (Douglas County): Revenue surged by 22% to as much as $22.3 million.
  • Elko County: GGR jumped 13% to as much as $32.7 million.
  • Washoe County (Reno area): Reported a modest but solid 3% gain, totaling $90.1 million.
  • White Pine County: Even the small gaming parlors in this remote region saw a 20% increase, exceeding $1 million in revenue.

However, not every gaming market shared in the success. Some areas reported year-over-year declines:

  • Downtown Las Vegas: Revenue dipped by 2.3% to $83.8 million.
  • Laughlin: Gaming earnings fell by 5% to $42.2 million.
  • Boulder Strip: Posted a 6.2% decline, with total revenue reaching $87.4 million.

Convention and tourism numbers on the rise

While overall visitor numbers to Las Vegas in January 2025 saw a slight decline, convention traffic provided a significant boost to the local economy.

According to the Las Vegas Convention and Visitors Bureau, total visitor volume in January stood at 3.34 million, a decrease by 1.1% from the previous year. However, the bright spot was convention attendance, which rose by 13%, with 628,800 people traveling to the city primarily for conferences and business events. Harry Reid International Airport reported 4.36 million arrivals and departures in January, a figure consistent with the previous year.

Despite the convention sector's improvement, it has yet to reach pre-pandemic levels. In 2019, Las Vegas hosted around 6.65 million convention attendants, whereas in 2024, the number stood at just under six million. Similarly, total visitation to the city remains slightly below pre-pandemic figures. In 2019, Las Vegas welcomed 42.5 million visitors, compared to 41.7 million in 2024.