Part 7/14:
The decline isn't limited to the casino revenue or hotel occupancy; it extends to tourism numbers. According to UNLV economist Steven Miller, visitation is down by over 6% year-to-date, with international travel particularly hit hard. Historically, Las Vegas has proven resilient, weathering crises such as September 11th, the Great Recession, and the COVID-19 pandemic.
Yet, the industry’s recent struggles suggest a paradigm shift. As the city wavers between its traditional mass-market approach and a new, more exclusive model, some regions outside Vegas, like Mesquite—just two hours south—are experiencing tourism booms. They report a 17% increase in gaming revenue, driven by budget-conscious visitors finding cheaper options.