Gambling Only Makes Up 26.1% of Vegas Strip Casino Revenue

^{Gambling hasn’t been at the top of the Vegas Strip casino revenue for almost 30 years. In 2025, it was just over 26% while hotels were the top revenue generator. (Photo: David Vives / Pexels)}

Gaming revenue accounted for just 26.1% of total Las Vegas Strip casino revenue in 2025, according to the Nevada Gaming Control Board's latest Gaming Abstract report. Hotel room revenue led the way for casinos on Las Vegas Boulevard, accounting for 33.5% of total revenue.

The revenue figure is the same percentage as in 2024, so it's not necessarily new. Non-gaming revenue has outpaced gambling in this part of Las Vegas since 1999.

The data from the Gaming Abstract is legal accounting, which is more accurate than the sample of visitors reporting their spending for the Las Vegas Visitor Profile. The 163-page report contains a lot of big-dollar amounts you'd expect from the casino industry, but it's easier to understand the information by looking at the percentages of revenue by specific sectors. It emphasizes where guests are spending their money and how much of the pie each category represents.

In 2025, both gaming and overall revenue fell on the Las Vegas Strip while increasing in downtown Las Vegas. The Strip saw a 3.7% decrease in both gaming and overall revenue, while downtown saw small increases of 0.7% in overall revenue and 1.8% in gaming revenue.

One outlier is the group of local properties considered the “balance of Las Vegas,” like Durango Casino, where overall revenue increased 3.2%, and gaming revenue was 4.7% higher in 2025 than the previous year.

Hotel Rooms Generate The Most Revenue For Strip Casinos

The Las Vegas Strip is typically the most expensive part of town. Hotel room rates are often double those downtown or elsewhere in the valley, as they were in April.

One reason Strip casinos update rooms and rebrand hotels is to increase what they can charge. This category remains the biggest revenue generator for these properties.

Last year, hotel rooms accounted for 33.5% of total casino revenue on the Strip. While advantage travelers use comp rooms to save money in Las Vegas, 75% of all rooms on the Strip were paid for by guests.

Gambling accounted for 26.1% of revenue at Strip casinos, and dining was the only other category in double figures at 18.9%.

Casino floors are dominated by slots because they generate about 70% more revenue for Strip casinos than table games. Sports betting and poker each account for about 3% of gaming revenue.

Step back a little, and you realize that sports betting and poker each represent only about 1% of total casino revenue on the Strip. This doesn’t account for non-gaming spend from players who may eat or drink before, during, and after games.

One interesting note from the NGCB is that 52 publicly owned casinos accounted for 62.1% of Nevada's total gaming revenue. That number will decrease once the Caesars deal closes and Tilman Fertitta takes the company private. It will shrink even further if MGM accepts People Inc.'s offer to take more casinos private.

Downtown Las Vegas is Very Different

Downtown casino revenue tells a very different story from that of the Las Vegas Strip. Gambling was the top revenue generator for downtown Las Vegas casinos, and it's not even close.

Gaming accounted for 50.1% of all downtown casino revenue, but hotel rooms were a distant second at 19.6%.

Food revenue stands out at 11%, which is a bit surprising given the smaller fine dining mix and generally lower prices in the area. Beverage comes in slightly higher at 11.3%, which may suggest that downtown visitors are more inclined to eat after drinking those footballs full of beer or daiquiris.

The gaming revenue breakdown is also much different from the Strip. Slot revenue is more than four times that of table games.

Sports betting makes up close to 17% of downtown gaming revenue. Circa Resort & Casino is a big reason why, with its football contests, Stadium Swim and the largest sportsbook in the world.

Since gaming revenue is such a big part of the mix, casinos have to fight for their share. They do this with anything that attracts players, including lower minimum bets and better rules and odds. This old-school mindset keeps players in the game longer, and since the house edge always favors the casino, they come out on top in the long run.

Gambling remains the core of business downtown, while it's just an amenity on the Strip.

The hotel rooms and dining options downtown aren't as luxurious as those on the Strip, but they're adequate for many visitors and offer another way to enjoy Vegas on a budget.