For decades, smart money has refused to bet against the house, giving Las Vegas the advantage. But after years of post-pandemic recovery buoyed by blockbuster sports and entertainment events, it seems Sin City — with its 24-hour casino culture of glamour, excess, jackpots and jeopardy — may have started to lose its edge.
Recent data paints a sobering picture. According to the Las Vegas Convention and Visitors Authority, hotel occupancy this summer fell 14.9% year-over-year, and international arrivals, a key driver of demand, declined 13.2% in June, with Canadian traffic particularly hard-hit due to currency pressures and geopolitical tensions.
The traditional casino-hotel pricing model is also under scrutiny.
