Las Vegas welcomed a bigger than usual turnout in visitation and a boost in occupancy over the Fourth of July weekend, though it was still below historical averages, according to a report from the Las Vegas Convention and Visitors Authority.
The LVCVA said 329,000 people visited Las Vegas this weekend, with a hotel occupancy rate of 88%. That’s up from the 310,000 visitors and 85.7% occupancy rate from a year ago.
Historically, the Fourth of July weekend has generally had occupancy rates in the low-to-mid 90% range. There are 1,000 more rooms online this year in Las Vegas compared to a year ago, which impacts the occupancy rate.
The increase comes as gaming analysts continue to point to more positive signs that Las Vegas is bouncing back this summer, which second-quarter casino earnings should reflect.
May visitation rose 2% and with casinos offering deals and the World Cup, Las Vegas visitation was expected to increase in June when those numbers are released later this month.
Wall Street analysts have been expressing greater optimism about a Las Vegas turnaround this summer after last year’s decline in visitation of more than 7%. Chad Beynon, senior gaming analyst with the Macquarie Group, sent a note highlighting the Las Vegas Strip’s 13% increase in gaming revenue in May.
Nongaming trends remain supportive. May revenue per room on the Strip was up nearly 10%, with higher room and occupancy rates. Convention attendance rose 15% in May, Beynon said.
“Vegas data through June 20 suggests Strip revenue per room growth should be mid-single digits for the second quarter,” Beynon said. “Although visitation was modestly positive, we view the improving revenue per room trajectory as a key indicator of Strip health and a potential driver of continued upside. The strong May print, combined with an easier comp backdrop, now suggests upside to second quarter Vegas earnings expectations.”
David Katz with Jefferies Equities Research said Las Vegas is looking better against easier comparisons. Gaming revenue in April and May increased 10% over 2025, despite visitor volumes up only 0.1% over those two months. A stronger convention calendar helped.
“Against this backdrop, we expect upcoming operator prints to indicate stable trends in the market, with Caesars Entertainment appearing the primary beneficiary of State Farm-driven group demand, while MGM Entertainment International is more leveraged to high-end baccarat strength,” Katz said. “Our view remains that longer-term growth durability is less certain absent a more pronounced recovery in leisure demand, given the inherent cyclical nature of group travel and evidence that all-inclusive promotional offerings are stabilizing lower-end consumer spend. In short, we expect positive second quarter earnings amid longer-term uncertainty.”
The LVCVA projects the economic impact from the Fourth of July weekend at $690.6 million, up 5.8% from $652.7 million a year ago.
