With Las Vegas Strip gaming revenues up nearly 7% in April and 2% for the year, a Wall Street analyst said the second quarter could be a potential inflection point for the resort corridor.
The total win of $689.4 million increased 6.6% or $42.6 million versus April 2025. Visitation fell 2% in April and for the year is essentially flat.
“Between our Vegas consumer perceptions survey, our Vegas room rate survey, our recent MGM upgrade, and [Caesars Entertainment’s pending takeover by Fertitta Entertainment], it’s been a wild week on the Strip,” said Barry Jonas, an analyst with Truist Securities. “We think (Friday’s) results were better than expected, as we believe Q2 could be a potential inflection point for the Strip.”
Jonas pointed out that Las Vegas revenue per room and average daily room rates tracked up double digits in May and occupancy was tracking 2% higher compared to May 2025.
Shelley Newell, a senior economic analyst for the Nevada Gaming Control Board, released her monthly breakdown of gaming numbers that show Nevada sportsbooks won $43.7 million, up 2.6% or $1.1 million compared to April 2025 on a hold percentage of 8.3% versus 6.9% last year. Sportsbook wagers totaled $525.1 million, down 15.1% or $93.7 million compared to last April, when $618.7 million was wagered statewide. Mobile wagers totaled $397.9 million, down 17.6% or $85.1 million, and accounted for 75.8% of all wagers, Newell said.
Washoe County sportsbook revenue rose 213.6%. Volumes were down 11.9% or $3.1 million on a hold percentage of 10.2% versus 2.9% last year, Newell said.
The Las Vegas Strip’s games win of $282.4 million increased 8.8% or $22.9 million and drop totaled $2 billion and decreased 4.2% or $87.9 million. Games hold percentage was 8.8% versus 12.4% last year. Baccarat win on the Strip totaled $124.8 million and was up $16.5 million or 15.3%. Volume totaled $756.9 million and is down 2.3% or $18.2 million, Hold was 16.5% versus 14.0%, Newell said.
The Strip’s slot win totaled $407 million and increased 5.1% or $19.7 million, and coin-in of $5.1 billion was up $242.2 million or 5%. Slot win percentage was 8.0% for both April 2026 and April 2025, Newell said.
In downtown Las Vegas, total win of $83.4 million decreased 0.6% ($522,000). For the year, total win is up 3%. Slot win totaled $56.3 million and decreased 3.7% ($2.1 million). Slot coin-in was down 1.9% ($12.7 million). Slot win percentage was 8.7% versus 8.9% last year. Game and table win totaled $27.1 million, up 6.4% ($1.6 million). Games drop decreased 6.9% or $17.1 million on a hold of 11.8% versus 10.3% last year, Newell said.
In North Las Vegas, total win of $25.6 million increased 2.8% ($705,000). For the year, total win is up 3.0%. Slot win totaled $23.4 million and increased 5.1% or $1.1 million. Volumes were up 1% or $3 million and hold was 7.7% versus 7.4%, Newell said.
On the Boulder Strip, total win of $90 million was up 0.1% ($67,000). For the year, total win is up 2.8%. Slot win was down 0.7% ($547,000). Slot coin-in was up 77.4% ($898.7 million). Slot volume was $2.1 billion, an all-time high. Slot hold was 3.9% versus 7.0%. Although the market’s volume was up, the win favored the players, resulting in the lower-than-normal hold. Generally, it came from play in penny and multi-denom slots. Game and table win totaled $9.2 million up 7.2% ($614,000). Games volume was up 4.1% ($2.2 million) and hold was 16.4% versus 15.9%, Newell said.
In Mesquite, total win of $18.6 million was up 4.1% ($733,000). For the year, total win is up 5.6%. Slot win was up 4.9% ($787,000). Slot coin-in was up 3.1% ($7.2 million) and hold was 7.0% versus 6.8%, Newell said.
In Laughlin, total win of $47 million was up 16.9% ($6.8 million). For the year, total win is up 1.3%. Slot win was up 16.4% ($6.3 million). Slot coin-in was up 7.2% ($32.9 million). Hold was 9.0% versus 8.3%, Newell said.
In Reno, total win of $72.3 million increased 11.8% ($7.6 million). For the year, total win is up 7.4%. Slot win was up 15.9% or $8.4 million. Reno’s slot win is their second all-time high. Volumes were up 9.4% ($86.2 million) The hold was 6.1% versus 5.8% last year, Newell said.
In Sparks, total win totaled $15.2 million and increased 20.3% ($2.6 million). For the year, total win is up 11.7%. Slot win totaled $14.4 million and increased 9.2% ($1.2 million). Coin-in increased 7.9% ($21 million). Hold was 5.0% versus 4.9% last year, Newell said.
In the Carson Valley, total win of $12.2 million increased 6.9% ($781,000). For the year, total win is up 4.9%. Slot win was up 6.9% ($753,000). Slot coin-in was up 1.4% ($2.4 million). Slot hold percentage was 6.5% versus 6.1%. Newell said.
In South Lake Tahoe, total win of $18.4 million increased 10.5% ($1.7 million). For the year, total win is 10.1%. Slot win increased 14.4% ($1.9 million). Volume was up 9.4% ($14 million). Hold was 9.1% versus 8.7%, Newell said.
In Elko County, total win of $33.6 million increased 1.2% ($391,000). For the year, total win is up 3.9%. Slot win increased 1.6% ($463,000). Slot coin-in increased 4.7% ($22.3 million). Slot hold was 5.9% versus. 6.1%, Newell said.
