How Are Las Vegas Casinos Making Money in 2025?

The evolution of casino revenue in Las Vegas

Las Vegas has changed dramatically since it was a small desert town with casinos run by the mafia, and since the Rat Pack graced the stage at the Sands.

Today, the majority of the most popular Las Vegas casinos are owned and operated by corporations, and the differences are drastic. Gambling hasn’t been the main source of revenue on the Vegas Strip for more than two decades, and this trend is now spreading beyond the main tourist corridor on Las Vegas Blvd.

Non-gaming revenue has outpaced gambling income on the Strip since 1998. Casino operators now generate the majority of their revenue from hotel rooms, food, beverages, spa treatments, and other amenities.

Las Vegas table game guides

Planning a trip to Las Vegas and want to make the most of your time in Sin City? It's a good idea to do your research before you arrive, so we've created a series of guides to help maximise your bankroll:

• Cheap Baccarat Tables in Las Vegas
• Cheap Blackjack Tables in Las Vegas
• Cheap Roulette Tables in Las Vegas

Revenue splits differ widely across LV casinos 🗺️

Downtown Las Vegas casinos, with limited amenities, don’t experience the same revenue mix. These smaller properties derive more income from gambling, as they lack the wide variety of restaurants, big shows, and upscale bars and lounges found on the Strip.

Meanwhile, surrounding areas of Las Vegas — including Henderson and Summerlin — are seeing changes in both footprint and revenue streams. These properties are large enough to feature spacious gaming floors along with multiple eateries, bars, and other amenities not found in the more touristy parts of town.

Interactive bowling lanes at their finest. pic.twitter.com/UXKMdovdqe

— Red Rock Casino Resort & Spa Las Vegas (@redrockcasino) February 14, 2024

They also offer attractions like movie theaters and bowling alleys to draw visitors and boost non-gaming revenue. This is a far cry from the days when “locals casinos” catered mostly to chain-smoking gamblers. Today’s upgraded casinos are more family-oriented than ever, though they still provide plenty of space for adults to gamble.

Thanks to annual casino revenue reports from corporations and the Nevada Gaming Control Board, we can examine how visitors spend their money in Las Vegas. The data about spending on the casino floor versus other venues may surprise those nostalgic for the good old days.

Non-gaming revenue rules the Vegas Strip 🏨

According to the 2024 Nevada Gaming Abstract report, only 26.1% of revenue for casinos on the Vegas Strip came from gambling. The vast majority of that was from table games like baccarat and blackjack, along with slot machines. Just 3.3% of gambling revenue came from sports betting.

The remaining 73.9% of revenue was generated by non-gaming operations. Hotel rooms alone accounted for 34% of total revenue.

Amazingly, the 2024 Las Vegas Visitor Profile shows that only 12% of visitors received a complimentary room. Room rates vary significantly between properties. For example, Wynn had the highest average room rate on the Strip last year at $555 per night.

Food and beverage sales combined to generate 25% of Strip casino revenue. The remainder came from entertainment, retail, spas, and other amenities.

Downtown Las Vegas still fueled by gamblers 🎲

Downtown Las Vegas — also known as “Old Vegas” — still reflects its vintage character. Most of the buildings are older and smaller than those on the Strip.

With fewer non-gaming amenities, downtown casinos see a larger share of their revenue come from gambling. In 2024, gambling accounted for 49.5% of revenue in downtown Las Vegas.

Thanks in part to the sports-centric Circa Casino, more money was wagered on sports downtown than on the Strip. Sports betting made up 16.1% of gaming revenue downtown, compared to just 3.3% on the Strip. Slot machine revenue downtown also far exceeded table game revenue by a nearly 4-to-1 ratio.

Sorry we were feelin' ourselves. 💅 Right sis, @goldengatevegas?#CircaLasVegas #DTLV pic.twitter.com/Dn5E8t4kU6

— Circa Las Vegas (@CircaLasVegas) March 25, 2025

Lower hotel room prices downtown also skew the revenue mix. The average nightly rate was $104.65, contributing to just 20.3% of total revenue. The prices are justified as many rooms are smaller and less posh than on the Strip.

No trip to downtown Las Vegas is complete without a football-shaped cup of beer or a frozen adult beverage. In 2024, beverage sales made up 11% of downtown casino income.

Surrounding areas more well-rounded ⚖️

Las Vegas sits in a basin, with the Strip and downtown at the center. There are many casinos dotting the surrounding areas.

It’s understandable that a visitor in town for just 48–72 hours might not venture 20–30 minutes off-Strip to visit Red Rock Casino in Summerlin, M Resort in Henderson, or the new Durango Casino in the southwest. However, these are beautiful properties with fair gambling odds, modern hotel rooms, excellent restaurants, and appealing amenities like pools and spas.

In addition to full-service casinos, there are also neighborhood casinos with only machine games and taverns with bar-top gaming. These smaller venues are popular with locals and contribute to the “other” section of Las Vegas in revenue reports.

In 2024, gambling accounted for 34.2% of revenue in the surrounding areas. Durango, the newest off-Strip casino with fresh rooms, helped drive hotel room revenue to 29.2% in its segment.

The most stunning news for the area is that 16.8% of revenue for these casinos was from food. The casinos act almost like a mall and are a good option for a meal when residents aren’t in the mood to cook.

The bottom line: Las Vegas has evolved

One of Las Vegas’s defining qualities is its constant reinvention. No two annual visits are the same. There’s always a new restaurant, bar, lounge, show, attraction, retail outlet, or sporting event to experience.

What’s less central these days is gambling. Since the Rat Pack era, gaming has expanded across the country. Visitors no longer need to come to Las Vegas just to gamble — casino games are available almost everywhere.

Blackjack is blackjack, but better odds and rules may be found elsewhere. Sports betting, meanwhile, is easier than ever via mobile apps and online platforms.

For years now, Las Vegas has been more of an experiential vacation destination. Gambling remains part of the experience, but it’s no longer the sole reason to visit.