While Las Vegas experienced moderation in several key performance metrics in 2025 relative to 2024, the market demonstrated continued resilience, supported by a strong calendar of major events, sports-related visitation, and a diversified entertainment offering.
In 2026, Las Vegas is expected to maintain solid operating fundamentals, with growth patterns continuing to normalize following the post-pandemic rebound.
The Las Vegas Casino & Hotel Market Outlook 2026 offers a comprehensive view into how the city’s evolving visitation patterns, shifting traveler behaviors, and diversified demand drivers are influencing performance across hotels, gaming, entertainment, and major event venues.
While Las Vegas experienced moderation in several key performance metrics in 2025 relative to 2024, the market demonstrated continued resilience, supported by a strong calendar of major events, sports-related visitation, and a diversified entertainment offering.
Although overall visitation levels and occupied room nights remain below historical peak volumes, market performance has increasingly been driven by higher per-visitor spending, premium experiences, and event-related demand rather than by volume alone.
In 2026, Las Vegas is expected to maintain solid operating fundamentals, with growth patterns continuing to normalize following the post-pandemic rebound.
This year’s report explores how these factors intersect to shape hotel performance, gaming revenue trends, transportation dynamics, and the future of large‑scale entertainment. It also highlights how new venues, infrastructure projects, and emerging demand generators are poised to redefine the market’s competitive landscape.
Whether you’re an investor, operator, developer, or industry stakeholder, this Outlook delivers the insight needed to understand where the market is heading and how to position for the opportunities ahead.
Click here to request a copy of the full report.
Shannon Okada, MAI, Managing Director of Gaming with HVS, is based in Las Vegas, Nevada. His experience includes appraisals and feasibility studies for existing and proposed hotels, resorts, and casinos. He holds a Master of Science degree in Hotel Administration from the University of Nevada Las Vegas, Master of Business Administration and Juris Doctor degrees from Pepperdine University, and a Bachelor of Business Administration degree in Marketing & Management from the University of Hawaii. Contact Shannon at +1 (702) 280-1405 or sokada@hvs.com.
