Las Vegas Casinos Face Major Profit Drop in 2025 Fiscal Year

Las Vegas casinos faced a substantial decline in profits during the 2025 fiscal year. The net casino profit for Las Vegas Strip properties dropped from $666 million in fiscal year 2024 to $154.2 million in fiscal year 2025.

The number of Strip casinos generating $1 million or more in revenue fell from 54 properties in 2024 to 51 in 2025. Despite this, gross gaming revenue for Strip casinos was $21.1 billion, the second-highest on record. Non-gaming revenue accounted for 73.9% of total revenue, totaling $15.6 billion.

Room revenue reached $7.1 billion, a 5.1% decline from the previous year. The average daily room rate was $250.72, the second-highest on record. Strip food revenue totaled $3.99 billion, a 1.4% decrease from 2024. Beverage revenue dropped 3.2% to $1.58 billion. Revenue from other Strip casino businesses totaled $2.9 billion, a 3.6% decrease from the previous fiscal year. Strip casinos saw workforce slide 3.2% to 92,130 from 95,195 in 2024.