In 2025, Nevada casino operators made more money than they had ever made in a single year. For the fifth year in a row, revenue is at an all-time high.
The full-year revenue figures for the more than 300 licensed gaming establishments in the Silver State were released on Wednesday by the Nevada Gaming Control Board (NGCB). The money retained by the casinos and gaming establishments, known as gross gaming revenue (GGR), came to $15,798,466. The figure is the largest single-year GGR total in Nevada history and marks a 1.23% increase over 2024.
In 2025, the post-pandemic run persisted. Prior to the COVID-19 epidemic, Nevada's highest GGR year ever was $12.85 billion in 2007. GGR in Nevada was $13.43 billion in 2021. Gaming profits increased to $14.84 billion in 2022, $15.52 billion in 2023, and $15.61 billion in 2024.
GGR declined 1.55% statewide to $1.43 billion in December of 2025, marking a poor conclusion to the year. The reduction was caused by the Las Vegas Strip, where GGR on the main drag fell 6% year over year to $827.7 million.
Las Vegas Faces Challenges
Gaming away from the Las Vegas Strip helped Nevada register a 1.23% GGR growth over the previous year.
GGR increased by more than 2% in downtown Las Vegas, over 5% in North Las Vegas, more than 2% in Laughlin, and nearly 4% in Boulder.Outside of Clark County, gaming revenue increased by 3% in Elko County and increased by 3.4% to over $1.1 billion in Washoe County, which is home to Reno.
On the Las Vegas Strip, however, GGR was flat at $8.81 billion. The official total of $8,815,212 indicated a negligible 0.03% increase from the previous year. While tables, sports, races, and bingo lost 0.89% to $3.86 billion, slot machines won $4.95 billion, up 0.75%.
When it came to Strip gaming, things could have been worse because of the decline of visitors in 2025. Despite a 7.5% decrease in visitor volume, strip casinos were able to get every gaming dollar from its patrons.
According to the Las Vegas Convention & Visitors Authority (LVCVA), Southern Nevada saw about 38.54 million visitors last year, a decrease of 3,127,800 from the previous year.
Gaming Fares and Other Revenue Declines
In 2025, gaming income on the Las Vegas Strip remained steady, but this isn't the case for other casinos.
The average nightly room fee for a casino hotel on the Las Vegas Strip was $196.54 in 2025, according to the LVCVA. That represents a 4.6% decrease from $206.12 in 2024.
Strip room RevPAR, or revenue per available room, fell 8.2% from $178.09 to $163.52. RevPAR is a crucial hospitality metric that evaluates financial success by combining occupancy and average nightly prices.
At 83.2%, the occupancy rate for strip hotels was 3.2 percentage points lower. Despite having far fewer hotel rooms, Tropicana Las Vegas (1,467 guestrooms) and The Mirage (3,044 rooms) closed in 2024.
Citizen Bank's gaming analysts anticipate a recovery for Las Vegas in the first quarter of 2026. The bank pointed out that vacation time was extended because New Year's Day fell on a Thursday.
