March Madness has made Las Vegas a jam-packed center of sports, entertainment, and high-stakes betting. Thousands of hoops fans are pouring onto the Strip to watch NCAA Tournament action.
On the heels of the first weekend of Dead & Company's highly anticipated concert return to The Sphere, Vegas is experiencing one of its busiest times of the year. Hotel rooms are booked or priced sky-high, and casino sportsbooks are filled wall-to-wall with fans cheering on their brackets and betting on nearly every play.
While legal sports betting expanded to 38 states and D.C, Las Vegas remains the premier destination for sports bettors. The opening weekend of the NCAA Basketball Tournament, expected to garner $3.1 billion in wagers, is a continuous schedule of games and a dream for sports fans. Giant video screens in Strip sportsbooks display all the matchups simultaneously, and food, drink, and entertainment are nearby — a uniquely immersive experience.
Apart from the games themselves, fans seek an escape from lingering winter chill in colder parts of the country. This seasonal surge, aided by high-profile events, has never made the city feel more alive.
According to analyst Barry Jonas of Truist Securities, a gaming and hospitality industry tracker, the Las Vegas Strip is not letting up. According to a recent report, Jonas noted resorts on the Strip are seeing steady, strong demand leading up to April.
Even though February's numbers were complex to measure year-over-year since the Super Bowl at Allegiant Stadium in 2024, Jonas determined the first quarter's performance was generally good.
In addition to holding last year's Big Game, the 2024 Las Vegas Formula One Grand Prix had a $934 million economic impact for Nevada. Vegas hosted an additional 306,000 visitors, with tourists spending roughly $336 million during the three-day event.
Visitor satisfaction takes a hit
Hotel room rates in April are rising significantly — up 11% year-over-year at MGM Resorts hotels and 1% at Caesars Entertainment properties.
The higher charges are not going unnoticed. More and more visitors griped on social media, irate over skyrocketing hotel prices, resort fees, and automobile parking. Despite this, overall visitor satisfaction remains strong.
The Las Vegas Convention & Visitors Authority (LVCVA) found 87% of tourists last year were "very satisfied" with their vacation, 10% were "somewhat satisfied, " and only 2% complained. Vegas welcomed 41.67 million visitors in 2024, a 2% increase from the year before.
The beginning of 2025 ushered in a minor decline, as January visitors were down 1.1% from the previous January. Notably, convention attendance increased almost 13% during the same month, indicating Las Vegas's strength as a business destination despite some slippage in leisure travel.
But casino operators aren't fazed. With occupancy running high and higher-per-night room rates — averaging almost $200 in January — Vegas Strip resorts continue to record robust top-line numbers.
