Lower hold prompts steep drop in Las Vegas Strip gaming revenue in December

Wednesday, January 28, 2026 10:59 AM
Photo:  Shutterstock
  • United States
  • Nevada
  • Buck Wargo, CDC Gaming

Prompted by a lower hold in slots and baccarat, the Strip ended 2025 on a sour note, with a 6% drop in gaming revenue in December. Most other jurisdictions, including Las Vegas locals casinos, recorded increases.

The Nevada Gaming Control Board released its figures for the month that showed the Strip had $827.7 million in gaming revenue, down from $881.2 million in December 2024. The final 2025 calendar-year numbers for the Strip will be released later today. Gaming revenue was up less than 1% through November.

Statewide, gaming revenue fell 1.5% because of the decline on the Strip. The $1.43 billion in revenue was down from $1.46 billion in December 2024.

On the Strip, slot revenue fell 6.9% from $495.4 million to $461.2 million despite handle being up 1.5%. The reason is that the hold fell from 7.9% to 7.2% in December.

Baccarat revenue fell to $156.4 million, down from $197.2 million, a decline of 20.7%, despite a 1.4% increase in drop. The reason was the hold fell to 16.3%, down from 20.8% in December 2024.

Non-baccarat table revenue on the Strip rose 11.4% despite a 7.2% decline in drop.

Casinos that serve Las Vegas locals recorded $290.2 million, up 5.8% from $274.2 million in December 2024.

Downtown Las Vegas saw a 4.6% increase in December to $86.1 million, up from $82.2 million.

The Boulder Strip rose 9% to $95.7 million, up from $87.8 million.

North Las Vegas rose 5.3% to $26.6 million, up from $25.2 million.

Elsewhere in southern Nevada, Laughlin rose 9.8% to $37.6 million, up from $34.4 million. Mesquite rose 11.1% to $17.7 million, up from $15.9 million.

In northern Nevada, Reno fell 1.6% to $64.7 million, down from $65.8 million. Sparks rose 10.3% to $16.6 million, up from $15 million.

North Lake Tahoe fell 4.6% to $1.9 million, down from $4.6 million. South Lake Tahoe rose 7.4% to $20.8 million, up from $19.3 million.

Elko County saw a 1.8% increase to $34.8 million, up from $34.2 million.