Nevada Casino Revenue Hits Record High in 2025 as Gamblers Lose $15.8 Billion

Posted on: January 28, 2026, 12:11h. 

Last updated on: January 28, 2026, 12:20h.

Devin O'Connor @CasinoorgDevinO Read More
Expertise: Asia Pacific Gaming, Commercial Gaming, Legislation, Politics.
  • Nevada gaming revenue reached a new record in 2025
  • GGR totaled almost $15.8 billion, the fifth consecutive year of record play
  • The Las Vegas Strip reported flat year-over-year GGR amid visitation troubles

Nevada gaming operators won more money in 2025 than they ever have before in a single year. It’s the fifth straight year of record revenue.

Nevada casino revenue GGR Las Vegas Strip
An aerial photograph of the Las Vegas Strip is seen from a distance. Nevada casino revenue managed to expand in 2025, despite flat revenue on the Strip. (Image: Shutterstock)

The Nevada Gaming Control Board (NGCB) unveiled on Wednesday the full-year revenue numbers for the more than 300 licensed gaming facilities across the Silver State. Gross gaming revenue (GGR), the money kept by the casinos and gaming venues, totaled $15,798,466. The mark represents a 1.23% gain on 2024 and is the highest single-year GGR tally in Nevada history.

The post-pandemic run continued in 2025. Before the COVID-19 pandemic, Nevada’s all-time best GGR year was $12.85 billion, which was set in 2007. Nevada GGR in 2021 totaled $13.43 billion. Gaming win climbed to $14.84 billion in 2022, to $15.52 billion in 2023, and to $15.61 billion in 2024.

2025 ended with a disappointing December, where GGR slowed 1.55% statewide to $1.43 billion. The Las Vegas Strip was responsible for the decline, with GGR on the main drag down 6% year over year to $827.7 million.

Las Vegas Struggles

Nevada’s posting of a 1.23% GGR gain on the prior year was possible thanks to gaming away from the Las Vegas Strip.

GGR in downtown Las Vegas was up over 2%, North Las Vegas climbed almost 5%, Laughlin was up over 2%, and Boulder was almost 4% higher. Outside of Clark County, Elko County revenue saw gaming improve by 3%, and Washoe County, home to Reno, posted a 3.4% gain to almost $1.1 billion.

It was a different story on the Las Vegas Strip, where GGR was flat at $8.81 billion. The official tally, $8,815,212, represented a trivial 0.03% year-over-year gain. Slot machines won $4.95 billion, up 0.75%, while tables, sports, race, and bingo were down 0.89% to $3.86 billion.

Things could have been worse in terms of Strip gaming, as visitation crumbled in 2025. Strip casinos managed to muster every gaming dollar possible out of their guests, with visitor volume down 7.5%.

The Las Vegas Convention & Visitors Authority (LVCVA) says approximately 38.54 million people visited Southern Nevada last year, a year-over-year loss of 3,127,800 guests. 

Gaming Fares, Other Revenue Drops

The Las Vegas Strip managed to keep gaming revenue stable in 2025, but that can’t be said for revenue elsewhere throughout the resorts.

According to the LVCVA, the average nightly room rate for a casino hotel on the Las Vegas Strip in 2025 was $196.54. That’s down 4.6% from $206.12 in 2024.

Strip room RevPAR, or revenue per available room, a key hospitality metric that measures financial performance by combining occupancy and average nightly rates, tumbled 8.2% from $178.09 to $163.52.

Strip hotel occupancy was 3.2 percentage points lower, at 83.2%. The reduced occupancy comes despite far fewer hotel rooms after Tropicana Las Vegas, with its 1,467 guestrooms, and The Mirage, with 3,044 rooms, shuttered in 2024.

Looking ahead, gaming analysts at Citizen Bank expect a rebound for Las Vegas in the first quarter of 2026. The bank cited New Year’s Day falling on a Thursday, which extended vacations.