By any measure, the first quarter of 2026 was a success for Resorts World Las Vegas.
The company reported a 26% year-over-year and 12% quarter-over-quarter increase in revenue at the property to $209 million.
When asked if there was a single factor that contributed to Resorts World’s stellar quarter, Chief Operating Officer and Chief Financial Officer Carlos Castro said most of the credit is because of the resort’s team members.
“I think when you get the team together, everybody’s focused on making sure that the decisions we’re making, either in their departments or an aggregate for the property, are the right decisions,” Castro said during an interview with CDC Gaming. “We were very proud of the way we handled our expense out of the equation. If you look at those numbers, we had a 95% flow through, so all the revenue that we generated, most of that – 95% – went to profit.”
Castro noted that convention business, for Resorts World and Las Vegas, was strong. The city hosted two large events, the Consumer Electronics Show and CONEXPO-CON/AGG during the quarter.
Castro says the hotel benefits when show attendees stay at Resorts World.
“We can capture them either through banquets on property, through the restaurant offerings. We can keep them in the spa, we can keep them in our entertainment venues, we can keep them in the clubs, in the theater,” Castro says. “We have so many different offerings at such a high level that there is no reason for them to leave. … We’re very sticky. Once we get our customers here, they tend to stay here.”
Resorts World’s hotel occupancy during the first quarter improved, climbing from 82.3% to 91.5%. Average daily rate also was up from $274 to $287. Castro noted Resorts uptick was because of being strategic and “maintaining our price discipline” at its Hilton Las Vegas, Conrad Las Vegas, and Crockfords Las Vegas options.
“We’re letting the customer know that this is a value proposition,” Castro said. “We have a very high-end product, and so we’re speaking to that luxury guest, we’re speaking to the to the Hilton guest with specific offers to them. And I think that it’s been very effective.
“I think our marketing team, our PR team have done a great job with operations once they’re here. We’ve delivered on the service promise, and we’re seeing repeat visitation. We’re seeing new customers come in, and we’re taking market share.”
Resorts World seems to have everything a guest could desire. But especially notable is its proximity to Las Vegas Strip. The north end of the Strip is a 10-minute walk from Resorts, but it’s far enough away to not have to deal with traffic and the noise.
And parking at Resorts World is free for local patrons.
“It’s easier to come and stay with us; it’s more convenient,” Castro says. “We have superior accessibility, we have a value proposition in the parking, and so that’s helping fill our restaurants. It’s also helping locals come in for staycations, and it’s a value proposition for someone coming in out of town.”
There have been some barriers that Resorts and other Vegas destinations face. Gas prices are higher, marking travel to Las Vegas by car more expensive. Flights are not cheap, and the loss of Spirit Airlines has been a negative.
And yet, Resorts World is thriving.
“People still want to come to Vegas,” Castro says. “They want to experience what we have, so we need to even be more intentional about the value proposition we’re giving them. We have to keep up our service levels. We have to keep up the cleanliness of the property. Everything that drives people to a property, Resorts World is going to try to excel at.”
Inside Asia Gaming’s Ben Blaschke contributed to this article.
