A drop in tourism has hit the bottom line of Las Vegas’s tourism agency after a strong previous year headlined by Super Bowl LVIII at Allegiant Stadium.
An audit report issued to the city’s tourism board Tuesday showed the Las Vegas Convention and Visitors Authority (LVCVA) received 2.4% less in revenue in the 2025 fiscal year that ended in June.
The 14-member Board of Directors was presented with a report saying the LVCVA’s General Fund received $374.8 million from room and gaming taxes in fiscal year 2025, a 2.4% decrease from 2024’s record-setting $382.7 million, spurred by hosting the 2024 Super Bowl.
Total government-wide revenues, however, increased by approximately $20.4 million. This increase is mainly due to the gain on the sale of land and interest and investment earnings. The one-time gain on the sale of land increased revenue by $26.3 million, while investments and interest increased revenue by $15.4 million. These increases were offset by a decline in room tax and gaming fees, an $18.1 million (4%) decrease from the previous year, the report said.
Decreased room taxes were expected and budgeted for in fiscal year 2025, after the previous year’s Super Bowl and the inaugural Formula 1 Las Vegas Grand Prix. While fiscal year 2025 room-tax revenue exceeded budget, it was 4.2% lower than fiscal year 2024.
“Recent months have demonstrated a decreased volume of international and domestic visitors,” the report said. “Facility charges for services remained flat, while transportation revenue decreased $2.4 million, due to increased Monorail demand and ridership in fiscal year 2024 from the Super Bowl and the F1 race.”
Total government-wide expenditures decreased $29.1 million from fiscal 2024, mainly related to the $27.8 million special-event funding decrease (2024 expenditures related to Super Bowl LVIII).
Decreased advertising ($2.0 million) and marketing and sales ($3.4 million) were also due to the rotation of special events like the Super Bowl and inaugural F1. Salary and benefits increased by $6.4 million, a result of a higher filled-position count. Government-wide revenues exceeded expenditures by $171.2 million, due to the one-time land sale, the report said.
Las Vegas performed well economically in the first several months of fiscal 2025 before tailing off at the end of the fiscal year and to start FY 2026. Visitation increased in the calendar year 2024 by 2.1%, from 40.8 million to 41.7 million. In calendar year 2024, occupancy increased slightly from 83.5% to 83.6% and average daily room rates (ADR) increased by 1%. June 2025, however, had monthly occupancy levels at 78.7% and ADR at $163.64, a decrease of 6.5% and 6.6%, respectively, from the previous June, the report said.
July 2025 monthly visitation was down 12% compared to July 2024. July’s monthly hotel occupancy was 76.1%, a 7.6 point decrease, and average daily rates were $154.76, a 3.4% decrease, both compared to the month of July 2024, the report said.
The report highlighted that Phase Three of the renovation project for the Las Vegas Convention Center District is currently in progress as scheduled, renovating and modernizing the facility. Improvements in Phase Three include a new main lobby, a climate-controlled walkway between halls, and upgrades to exhibit halls, meeting rooms, restrooms, and technology. This multi-year project is budgeted at $600 million, with $247 million spent in fiscal year 2025. It is expected to be completed in fiscal year 2026.
The convention center is one of the busiest convention facilities in the world, a 4.6-million-square-foot facility located within a short distance of more than 100,000 hotel rooms.
During fiscal year 2025, the LVCC hosted 84 events, up 2.4% from fiscal year 2024, mostly related to show rotation. LVCC convention attendance increased 12.4% compared to fiscal year 2024, primarily due to show rotation, and is slightly below peak pre-pandemic levels, the report said.
