It appears Sin City is still in the recovery phase.
Caesars Entertainment CEO Tom Reeg said that the company's earnings dropped in the third quarter mostly because fewer people visited Las Vegas.
This led to less demand and poorer results from table games. In Q3 2025, Caesars saw a nearly 10% revenue decline in Las Vegas, with net income falling significantly from the previous year. The decrease was due to fewer international visitors, particularly from Canada, and an overall drop in visitors, which affected hotel occupancy and slot machine use.
Reeg mentioned that summer was slow in Vegas, but business began to improve at the end of the quarter, with September being the best month. To address recent concerns about a decline in tourism in Sin City, Caesars Entertainment started providing a range of special travel offers at its eight resorts along the Las Vegas Strip.
The news comes on the heels of Caesars Entertainment's announcement that two new titles are now available to play both in person at Caesars casinos in Atlantic City and online across five different North locations across the United States.
Latest Vegas Airport Traveler Numbers Still Down
Fewer people traveled through Harry Reid International Airport in Las Vegas this September, with passenger numbers down 6.4% from last year.
About 4.45 million passengers used the airport this September, down from 4.75 million in September 2024. So far this year, nearly 41.5 million people have passed through the airport, almost 2 million fewer than last year, reflecting a nearly 5% drop in traffic. The most significant decline was in international travel, which dropped by 13.5%, while domestic travel fell by 6.1%.
Canadian travelers were a major factor in the international decline, with airlines like Air Canada and WestJet seeing passenger numbers drop by 18.4% and 44.3%, respectively.
Domestic airlines, such as Spirit Airlines, saw a 45.8% drop in passenger traffic due to financial problems and route cuts. On the other hand, airlines like Southwest and United gained some more passengers. The drop in passengers at the airport is part of a larger slowdown in tourism in the region, which is also affecting Las Vegas's gaming revenue and the number of visitors, with new figures expected soon. This data shows ongoing challenges for tourism and travel to Las Vegas in late 2025.
Hoping For a Las Vegas Bounce Back
Despite these issues in Q3, Reeg is hopeful for a recovery in the fourth quarter. He said that Las Vegas is "making a comeback," with improvements seen, especially in September.
The company expects cash room revenue to be slightly lower in Q4 than last year, but it is optimistic about the future due to major events such as the Formula One Las Vegas Grand Prix and ongoing group and convention bookings. Reeg also mentioned that Vegas is "bouncing back well" and predicted that group bookings might set new records in 2025 and 2026, indicating a recovery for the Strip's economy.
This mirrors a broader industry trend in which Vegas has slowed due to broader economic factors, but there is optimism that the recovery has begun, as the Strip benefits from major events and more group business.
