Las Vegas News - Strip Casinos Up, Caesars Sinks & Red Rock Rises

Nevada Casinos First Gaming Win Increase Since January

For the first time since January, Nevada casinos have posted their first increase in statewide gaming win.

Led by the casinos on the Las Vegas Strip, Nevada's statewide win from gaming in June was $1.33 billion. That represents a 3.53% increase compared with June of last year (2024.)

Vegas Strip casinos were well over half that amount, posting a win of $765.3 million for the month. That's just a slight increase of less than one percent, but thankfully out of the red, according to the Nevada Gaming Control Board.

Other big winners include Downtown Las Vegas at $73.15 million (up 10.48%) and Boulder Strip at $87.45 million (up 19.32%.) North Las Vegas, Reno and Laughlin also fared well (up 4.7%-6.6% each.)

All of this is despite sluggish tourism numbers, as domestic consumers concerned about pricing in Sin City have been reluctant to spend, and trade war, visa, and immigration concerns have dampened enthusiasm for US travel by foreigners.

June's reports mark the end of the fiscal year, and during that period gaming win fell 0.79% from the previous fiscal year's total. But despite that, at least the state's gaming win appears headed back in the right direction.

Caesars Entertainment Reports Disappointing Results

In what has become expected quarterly news every three months, Caesars Entertainment is disappointing investors.

During the company's second quarter earnings call on July 29th, Caesars Entertainment CEO Thomas Reeg shared the weak news, claiming that "summer is soft in Vegas."

Of course, it seems like summer is "softest" in Caesars' properties, where they have seen occupancy in their Las Vegas properties drop by another two percent during Q2.

Compared to last year, they have lost 27,000 room nights. Reeg also reported that room rates were basically flat for the quarter.

Looking for a place to finger the blame, Reeg pointed towards the group's international business, particularly Canadians, which only represent 3% of Caesar's business.