Baccarat Continues to Drive Strip Revenue Gains While Las Vegas Visitation Slips Again in October

^{A quiet night on Fremont Street, where falling visitation has pushed downtown room rates to some of the lowest in Las Vegas. (Photo: Marc Meltzer / Casinos.com)}

LAS VEGAS — Baccarat continues to drive gaming revenue throughout Nevada, supporting the $1.35 billion in gaming revenue from Las Vegas Strip casinos in October. After a dip in gaming revenue in September, gaming revenue increased in October in Nevada thanks to another month-over-month boost from James Bond’s favorite game: baccarat.

Nevada Gaming Revenue Rebounds in October

Nevada gaming revenue for October was $1.35 billion, up about 5% from $1.28 billion in October 2024, according to the Nevada Gaming Control Board. 

As usual, the Strip generated most of the total, and total revenue from those casinos rose 8.21% to $749 million. The Strip led Clark County gaming revenue, while off-Strip markets reported mixed results.

Elsewhere in Clark County, results were mixed:

• Downtown: stayed flat at $86 million
• Boulder Strip: down 9% to $78 million
• North Las Vegas: up 8% to $24 million
• Other off-Strip areas: up nearly 4% to $170 million 

Clark County gaming revenue for the year is only up about 1%, and the Strip is just about the same.

Because baccarat is mainly a high-roller game on the Strip, its revenue rarely lines up with Las Vegas visitation trends. That trend held solid again with another drop in visitation of 4.4% in October.

Strip Boosted by 69% Increase in Baccarat Revenue

Strip baccarat generated $116 million in October, up 69% from a year ago. The game accounted for more than a third of all table game revenue on the Strip.

Pai Gow Poker and roulette were the only other table games posting double-digit gains. Pai Gow Poker was up nearly 30%, and roulette rose 21.7%.

Sportsbooks on the Strip saw revenue jump an eye-catching 261%. The gain looks huge, but sportsbooks only held 7.3% of wagers placed in October.

Overall, Strip table game revenue increased more than 25%, while slot machine revenue declined just over 2%.

Downtown Casinos Also Cashing In on Baccarat

Downtown casinos don’t necessarily host the same high-limit baccarat action as the Strip, but many of them offer mini baccarat on the main gaming floor.

Mini baccarat revenue downtown increased 87.8% in October. Craps was the only other table game with a gain, rising 3.8%.

Some players have shifted to low-house-edge games to stretch their bankrolls. Baccarat’s house edge of just over 1% should help players stay in action longer than games with a larger casino advantage. Of course, anything can happen during a single session.

Sports betting was the biggest non-slot revenue driver for downtown operators. The $14.7 million collected makes for a jump of 50% higher than a year ago.

This pushed downtown table and counter game revenue up 15%, but slot revenue fell more than 6%.

Las Vegas Visitation Continues to Decline

Las Vegas visitation fell 4.4% to 3.4 million in October, even as convention attendance increased 7.9%. For the year, visitation is down to 3.2 million, according to the Las Vegas Convention and Visitors Authority.

If current trends hold, Las Vegas will finish the year with just under 40 million visitors. That is not great, but it is not as dire as it might appear on social media.

The most price-sensitive visitors may be the ones staying away. While occupancy, room rates, and revenue per available room were down on the Strip, the declines were much steeper downtown.

Downtown hotel occupancy fell to 75.2% and the average daily rate dropped to $108.43. Revenue per available room sank 16.7% to $81.54.

On the Strip, occupancy was “only” down 1.8%. Room rates declined 5.5%, and revenue per available room dropped 7.4% to $188.82. Those results are not good, but they are better than downtown.

Fewer visitors means more competitive room rates. Visitors looking for the least expensive should check downtown before anywhere else for the best bargains.