Conventions Keeping Las Vegas Strip Afloat, as Leisure Sector Remains a Drag

Las Vegas’ convention business is helping prop up the market’s tourism economy, according to June data from the Las Vegas Convention & Visitors Authority (LVCVA), as leisure travel continues to face headwinds.

The LVCVA, charged with promoting Las Vegas for vacations and business travel, is earning its keep, as the Strip’s ability to remain a premier destination for large-scale events is proving critically important amid leisure travel woes.

The LVCVA reports that June visitor volume in Las Vegas was down 0.5% from the prior year, with an estimated 3,079,800 visitors. The outcome would have been far worse year-over-year had it not been for a strong month for conventions, where turnout grew 25.8% to approximately 471,100 attendees.

“Convention attendance was up meaningfully, as operators have previously highlighted a strong convention calendar,” an analyst note from Truist Securities read.

When not attending a keynote, breakout session, or networking, many conventioneers like to gamble. Their play, however, couldn’t bridge the year-over-year general visitor decline, as June gross gaming revenue (GGR) on the Strip was 1.4% lower at $754.6 million.

Leisure Travel Challenges

Though casino executives say the recent hysteria over whether Las Vegas has a pricing problem is overblown, there remain concerns that some regular visitors have had enough with supposed price gouging and nickel and diming.

Through June, year-to-date visitor volume in Las Vegas is flat, up a negligible 0.2% to 19.6 million visitors. The flat result, however, comes after total visitor volume crashed 7.5% in 2025.

The LVCVA reported that RevPAR, or revenue per available room, a key performance metric used in the hospitality industry to measure a property’s financial performance, fell 4.9% on the Las Vegas Strip in June. Nightly rates for Strip casino hotel rooms were 4.4% lower at $156.

“Las Vegas remains a predominantly leisure-driven hotel market,” said Michael Stathokostopoulos, a senior hospitality analyst at CoStar.

Stathokostopoulos explained that ongoing inflation and economic uncertainty are weighing heavily on Las Vegas, resulting in some travelers shortening or skipping their trips.

Then there’s the pricing problem, as many Vegas regulars continue to scoff at $10 water bottles, $50+ nightly resort fees, daily parking charges, high table minimums, and tightened odds.

June Casino Revenue

Baccarat was blamed for June’s gaming result on the Strip, as the player versus banker table game saw revenue tumble 20% to $102.7 million. Despite a similar win rate as June 2025, drop, or the amount bet, was 22% lower.

Blackjack, craps, and roulette also saw year-over-year revenue declines of over 20%.

 Bright spots included sports betting, where oddsmakers posted a 47% revenue surge to $20.3 million. Slots also fared well, with revenue up 10% to $420.2 million.