Latest news with #LasVegasConventionandVisitorsAuthority
Yahoo
3 days ago
- Business
- Yahoo
Las Vegas may still dazzle, but its sparkle is coming at a steeper price
Las Vegas — The "Welcome to Fabulous Las Vegas" sign is usually the first stop for millions of tourists. But the line to snap a photo is noticeably shorter this spring as inflation, which has brought on higher prices for visitors, has hit "Sin City" hard. "We were here last year, almost exactly the same time," John Fischer, who is visiting from the United Kingdom, told CBS News. "And it was probably 20% more [expensive] this year." U.K. tourist Stuart Woodfall said he was surprised to pay $9 for a coffee. "In the U.K., we pay 4 pounds, 5 pounds for a coffee? So yeah, crazy," Woodfall said. Those higher prices haven't stopped convention traffic, but casual trips are down. The Las Vegas Convention and Visitors Authority said 3.39 million people visited in March, down 7.8% from the same time last year. April saw a 5.1% drop in visitors from April 2024. Hotel occupancy also slipped, as the average nightly rate on the Las Vegas Strip reached $203 in April, the LVCVA said, up from $194 at the same time last year. The hotel occupancy rate rate in April was 84.5%, down slightly from 85.5% in April of 2024. "I think what's driving that largely now is just a drop in consumer confidence," Steve Hill, CEO and president of the LVCVA, told CBS News. Hill says big resorts can absorb a few empty rooms if the price is right. "The philosophy in Las Vegas prior to the pandemic was, at any cost, fill a room," Hill said. "Now, that has moderated somewhat. And so there is a balance point that they have found that is actually a little bit below the occupancy that we saw at a peak, which was about 88% in 2019. They're comfortable in that 85% range at a little higher price." Another sore spot is that Las Vegas is seeing fewer international visitors, Hill explains. They are the ones who generally tend to stay longer and spend more. "It's an investment in a trip, and we're typically a bucket list," Hill said. "They want to come here, spend more days, really enjoy the experiences that are here. And so when we lose them, we're losing a very valuable customer." Tourists who do roll the dice in Vegas are currently dealing with heavy vehicle traffic. Months of construction and road closures for special events can turn a 10-minute ride into a crawl on the Strip. "We've had so many customers say, 'We're never coming back to this city, you can't get anywhere,'" said Will Tryon, co-owner of Adventure Photo Tours, which he operates with his wife Donna Tryon. Their company does tours in the surrounding region, including the Grand Canyon, Area 51, Zion National Park and Death Valley. The couple said higher fuel and insurance costs leave little room to cut prices. Some tours priced at $75 before the COVID-19 pandemic are now $109. "The economy, the money, they don't have the money to spend," Donna told CBS News. "And the fact is that Las Vegas is no longer a bargain vacation." Even so, plenty of visitors are still shelling out for hot tickets like Dead & Company's residency at the Sphere this spring, and Beyoncé's Cowboy Carter Tour, which is coming to Allegiant Stadium in July. "It's like, you can go for the fancy experience, but then you can find a place that's a pretty good price," said Marc Kutzin, who is visiting from New York. The summer calendar is full of concerts, festivals and sporting events, and Hill believes the city will be resilient. "Las Vegas is gonna respond to this," Hill said. "We are going to have a great summer." California track and field final begins with new rules for transgender athletes Reporter's Notebook: Words of wisdom from college graduation speeches How a toddler's brave walk into the darkness to get help inspired his family
Yahoo
5 days ago
- Business
- Yahoo
Nevada casino win drops statewide and on the Strip as Las Vegas visitor numbers plunge
LAS VEGAS (KLAS) — Casinos are struggling to match last year's pace, and a $1.27 billion statewide win in March is the worst for the month since 2021 when the pandemic was still interfering with tourism. Statewide, the March gaming win was down 1.11% statewide, and 4.78% lower on the Las Vegas Strip, which fuels more than half of Nevada's winnings. Strip casinos won $681.67 million in March, according to figures released Tuesday by the Nevada Gaming Control Board. Nevada won a record $1.46 billion in December, but concerns about the economy have emerged in the months since. LAST MONTH: Nevada casinos retreat from December-January wins, 2024 Super Bowl hype Year-over-year declines prompted speculation that tourism could be in trouble, and visitation numbers released by the Las Vegas Convention and Visitors Authority (LVCVA) on Tuesday reinforced that. An estimated 3,386,800 visitors came to Las Vegas in March, down 7.8% from March 2024. Lower numbers statewide and on the Strip were balanced somewhat by a good month from downtown Las Vegas casinos, which won $85.0 million, up 11.59% compared to last year. Casinos on the Boulder Strip also had a good month at $78.3 million, up 10.23%. A win of more than $1.25 billion used to be impressive, but March's statewide total only ranks around 25th on the all-time list now. The months ahead will bring reminders that the room count in Las Vegas has been going down, with the April 2024 closing and eventual implosion of the Tropicana (1,470 rooms) and the temporary shuttering of more than 3,000 rooms at The Mirage, which is rebranding as a Hard Rock International resort. Another factor: Comparisons to previous years have been tough lately, particularly after Super Bowl LVIII was played in Las Vegas and the F1 Las Vegas Grand Prix launched in November 2023. High rollers at the baccarat tables on the Strip lost more than $73 million in March, but that was 34.27% less than they lost in March 2024. By comparison, baccarat play during the record month of December brought in $197.2 million. RECORD: Nevada casinos beat all-time record in December, all of 2024; Las Vegas Strip posts 2nd-highest win ever For the fiscal year (July 1, 2024-June 30, 2025), Nevada is 1.14% behind last year's pace. Nevada collected $79.3 million in percentage fees so far this month (April 1-26). Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Chicago Tribune
23-05-2025
- Entertainment
- Chicago Tribune
Las Vegas luring millennials, Gen-Z visitors with pool parties, craft cocktails, influencer experiences
Their grandparents lined up for buffets, and their parents came for Celine Dion. But millennials and Gen-Z are coming to Las Vegas for something else entirely. Nearly half of the city's visitors last year were millennials or Gen-Z, according to the Las Vegas Convention and Visitors Authority's 2024 visitor profile report. Despite the perception that they are still 'only kids,' all but the youngest millennials are in their 30s and 40s, while most of Gen-Z is of legal voting age. And although their spending and gambling habits differ from previous generations, millennials and Gen-Z are a very valuable cohort for Las Vegas casinos. 'In an environment of increasing competition, it is vital that (casino) operators focus on delivering quality, distinctive experiences that not just meet but often exceed patron expectations,' said Sarah Grady, assistant director of the Lloyd D. Levenson Institute of Gaming, Hospitality and Tourism at the Stockton University (New Jersey) School of Business. That realization is prompting casinos across Las Vegas to carefully consider how they attract and retain consumers who may be less interested in jackpots and more driven by experiences. Evidence of that shift can be seen in nearly every Las Vegas casino. Massive nightclubs, energetic pool parties featuring world-renowned DJs, celebrity chef restaurants, bars and lounges with craft cocktails designed to be photographed, and slot machines that look more like video games than gambling devices have become commonplace. Jonathan Jossel, chief executive officer of the Plaza hotel-casino in downtown Las Vegas, said non-gaming amenities are 'really important' to operators in 2025. 'It's really events that differentiate us from other places,' Jossel said, listing some non-gaming offerings at the property, such as pickleball, rodeo and free fireworks. 'These events make a big difference in making us more relevant online, and that (attention) is from the younger demographic.' Cliff Atkinson, president of Virgin Hotels Las Vegas, said millennials and Gen-Z visitors are seeking 'well-rounded experiences,' that include a little bit of everything the city has to offer. 'While gaming remains a key attraction, these generations are also drawn to the city's diverse wellness and culinary offerings,' he said. 'For millennials and Gen Z, we've seen that their perfect vacation blends the excitement of gaming with relaxing poolside moments, top-notch entertainment and delectable cuisine.' While that might not sound all that different from what previous generations sought in their Vegas vacations, the data suggests otherwise. According to the LVCVA report, millennials (born between 1981 and 1996) spent an average of $768 gambling, $637 on food and drinks, $63 on shows or entertainment and $47 on sightseeing. Gen-Z (born between 1997 and 2012) spent, on average, $575 in the casino, $541 eating and drinking, $94 at concerts or shows and $62 sightseeing. Comparatively, Gen-X (current ages between 45 and 60) spent, on average, more on gambling ($873) and less on shows/entertainment ($56) and sightseeing ($35) than either of the other two generations. Gen-X's spending on food and beverages ($617) was less than millennials but more than Gen-Z, according to the LVCVA report for last year's visitors. Gen-X also spent less per night for hotel stays ($167) than either millennials ($192) or Gen-Z ($171), likely due to receiving more comped rooms tied to higher gambling spend. Changing consumer behaviors also plays a part in how Las Vegas casinos are attempting to appeal to the two younger generations. For starters, overall attitudes toward gambling as a socially acceptable activity continue to favor casino operators. Bally's Chicago gets green light from Illinois Gaming Board to resume constructionAccording to recent research by the American Gaming Association, roughly 9 in 10 Americans believe casino gambling to be acceptable for themselves or others. Fifty-nine percent (the highest ever) found gambling personally acceptable. More than 55 percent of U.S. adults participated in some form of gambling (including lottery) in 2023. As of August, 49 percent (122 million people) visited a casino for gambling or other entertainment purposes within the past 12 months, the highest level of casino visitation on record. 'There has also been an increase in the number of individuals that believe that the value of casino entertainment is 'excellent/good compared to alternatives' and that casinos are innovative,' Grady said, citing the AGA's research. 'These findings, added to the fact that the average age of casino visitors has dropped from 47.5 in 2014 to 41.9 in 2024, could suggest that younger generations have a generally positive impression of gaming and an interest in participating.' Millennial and Gen-Z gamblers are also drawn to digital options. Online casino gaming, or iGaming, is available in six states and online poker is offered in Nevada. Online sports betting, which is now legal in 34 states and the District of Columbia, is the fastest-growing segment of regulated gaming in the United States. Grady said some casino operators are parlaying that interest into tangible returns. 'While perhaps not a major revenue earner for the industry, sports betting taps into younger generations' familiarity with sporting contests and engages them in a casino experience that does not rely on knowledge of more traditional casino products,' she said. 'Once they've had the chance to experience the casino environment through sports betting or other gaming products, they have an opportunity to explore everything else casinos have to offer.' Not every casino is chasing millennials and Gen-Z the same way. Some, such as Jossel, believe patience and waiting for consumers to age into traditional habits might be just as effective as constant reinvention. 'Everyone gets older, and their tastes evolve. Just because you're doing something in your 20s, 30s or 40s doesn't mean you're going to be doing that in your 50s, 60s and 70s,' he said, leaning on prior discussions with patrons who played bingo today but did not when they were younger and visited casinos in Las Vegas. 'So, this idea of everyone saying we need to adjust our marketing plan to target the young people never really resonated with me.' Jossel admits the newer slot machines, which more closely resemble a computer game than a Vegas-style one-armed bandit, have forced him to look at the situation differently. He said younger gamblers are spending more time, and more money, on these sleek-looking machines with fancy graphics and interactive components. 'Games have bets that range from 40 cents up to $40 or $50, and I see these young people playing $20 a spin, no problem. In the old days, you just never saw that. You just never, ever saw people betting those big numbers,' he said. 'And I got to believe that's the new product, the new games, but also the impact of the influencers on social media.' Even if behaviors are shifting, traditional casino games are still relevant to younger audiences, said Atkinson. 'The rise of gaming influencers on YouTube, Instagram and TikTok has sparked a renewed interest in traditional games among younger generations. These influencers are engaging their audiences on social media, enticing them to visit casinos for an authentic gaming experience,' he said. 'While online gaming and sports betting remain popular, there's still a strong desire for the tangible gaming experiences that Las Vegas offers.' In other words, while their grandparents were piling buffet food on their plates, and their parents sang along to Celine's classics, this new generation is coming to Las Vegas for craft cocktails, video-game-inspired slots and influencer-driven experiences. All of which Vegas has plenty to offer.
Miami Herald
21-05-2025
- Entertainment
- Miami Herald
How Las Vegas casinos are working to attract millennials, Generation Z
Their grandparents lined up for buffets, and their parents came for Celine Dion. But millennials and Gen-Z are coming to Las Vegas for something else entirely. Nearly half of the city's visitors last year were either millennials or Gen-Z, according to the Las Vegas Convention and Visitors Authority's 2024 visitor profile report. Despite the perception that they are still "only kids," all but the youngest millennials are in their 30s and 40s, while most of Gen-Z is of legal voting age. And although their spending and gambling habits differ from previous generations, millennials and Gen-Z are a very valuable cohort for Las Vegas casinos. "In an environment of increasing competition, it is vital that (casino) operators focus on delivering quality, distinctive experiences that not just meet but often exceed patron expectations," said Sarah Grady, assistant director of the Lloyd D. Levenson Institute of Gaming, Hospitality and Tourism at the Stockton University (New Jersey) School of Business. That realization is prompting casinos across Las Vegas to carefully consider how they attract and retain consumers who may be less interested in jackpots and more driven by experiences. Evidence of that shift can be seen in nearly every Las Vegas casino. Massive nightclubs, energetic pool parties featuring world-renowned DJs, celebrity chef restaurants, bars and lounges with crafted cocktails designed to be photographed, and slot machines that look more like video games than gambling devices have become commonplace. 'Well-rounded experiences' sought Jonathan Jossel, chief executive officer of the Plaza hotel-casino in downtown Las Vegas, said non-gaming amenities are "really important" to operators in 2025. "It's really events that differentiate us from other places," Jossel said, listing some non-gaming offerings at the property, such as pickleball, rodeo and free fireworks. "These events make a big difference in making us more relevant online, and that (attention) is from the younger demographic." Cliff Atkinson, president of Virgin Hotels Las Vegas, said millennials and Gen-Z visitors are seeking "well-rounded experiences," that include a little bit of everything the city has to offer. "While gaming remains a key attraction, these generations are also drawn to the city's diverse wellness and culinary offerings," he said. "For millennials and Gen Z, we've seen that their perfect vacation blends the excitement of gaming with relaxing poolside moments, top-notch entertainment and delectable cuisine." Spending less on gambling While that might not sound all that different from what previous generations sought in their Vegas vacations, the data suggests otherwise. According to the LVCVA report, millennials (born between 1981 and 1996) spent an average of $768 gambling, $637 on food and drinks, $63 on shows or entertainment and $47 sightseeing. Gen-Z (born between 1997 and 2012) spent, on average, $575 in the casino, $541 eating and drinking, $94 at concerts or shows and $62 sightseeing. Comparatively, Gen-X (current ages between 45 and 60) spent, on average, more on gambling ($873) and less on shows/entertainment ($56) and sightseeing ($35) than either of the other two generations. Gen-X's spending on food and beverages ($617) was less than millennials but more than Gen-Z, according to the LVCVA report for last year's visitors. Gen-X also spent less per night for hotel stays ($167) than either millennials ($192) or Gen-Z ($171), likely due to receiving more comped rooms tied to higher gambling spend. Changing consumer behaviors also plays a part in how Las Vegas casinos are attempting to appeal to the two younger generations. For starters, overall attitudes towards gambling as a socially acceptable activity continue to favor casino operators. According to recent research by the American Gaming Association, roughly 9 in 10 Americans believe casino gambling to be acceptable for themselves or others. Fifty-nine percent (the highest ever) found gambling personally acceptable. More than 55 percent of U.S. adults participated in some form of gambling (including lottery) in 2023. As of August, 49 percent (122 million people) visited a casino for gambling or other entertainment purposes within the past 12 months, the highest level of casino visitation on record. "There has also been an increase in the number of individuals that believe that the value of casino entertainment is 'excellent/good compared to alternatives' and that casinos are innovative," Grady said, citing the AGA's research. "These findings, added to the fact that the average age of casino visitors has dropped from 47.5 in 2014 to 41.9 in 2024, could suggest that younger generations have a generally positive impression of gaming and an interest in participating." Reaching younger gamblers Millennial and Gen-Z gamblers are also drawn to digital options. Online casino gaming, or iGaming, is available in six states and online poker is offered in Nevada. Online sports betting, which is now legal in 34 states and the District of Columbia, is the fastest-growing segment of regulated gaming in the United States. Grady said some casino operators are parlaying that interest into tangible returns. "While perhaps not a major revenue earner for the industry, sports betting taps into younger generations' familiarity with sporting contests and engages them in a casino experience that does not rely on knowledge of more traditional casino products," she said. "Once they've had the chance to experience the casino environment through sports betting or other gaming products, they have an opportunity to explore everything else casinos have to offer." Not every casino is chasing millennials and Gen-Z the same way. Some, such as Jossel, believe patience and waiting for consumers to age into traditional habits might be just as effective as constant reinvention. "Everyone gets older, and their tastes evolve. Just because you're doing something in your 20s, 30s or 40s doesn't mean you're going to be doing that in your 50s, 60s and 70s," he said, leaning on prior discussions with patrons who played bingo today but did not when they were younger and visited casinos in Las Vegas. "So, this idea of everyone saying we need to adjust our marketing plan to target the young people never really resonated with me." Jossel admits the newer slot machines, which more closely resemble a computer game than a Vegas-style one-armed bandit, have forced him to look at the situation differently. He said younger gamblers are spending more time, and more money, on these sleek-looking machines with fancy graphics and interactive components. "Games have bets that range from 40 cents up to $40 or $50, and I see these young people playing $20 a spin, no problem. In the old days, you just never saw that. You just never, ever saw people betting those big numbers," he said. "And I got to believe that's the new product, the new games, but also the impact of the influencers on social media." Even if behaviors are shifting, traditional casino games are still relevant to younger audiences, said Atkinson. "The rise of gaming influencers on YouTube, Instagram and TikTok has sparked a renewed interest in traditional games among younger generations. These influencers are engaging their audiences on social media, enticing them to visit casinos for an authentic gaming experience," he said. "While online gaming and sports betting remain popular, there's still a strong desire for the tangible gaming experiences that Las Vegas offers." In other words, while their grandparents were piling buffet food on their plates, and their parents sang along to Celine's classics, this new generation is coming to Las Vegas for craft cocktails, video-game-inspired slots and influencer-driven experiences. All of which Vegas has plenty to offer. ___ Copyright (C) 2025, Tribune Content Agency, LLC. Portions copyrighted by the respective providers.
Yahoo
19-05-2025
- Business
- Yahoo
Las Vegas tourism sees 7.8% decline in visitors — Trump's gamble with policies may be why
Las Vegas is a popular destination for tourists, but visitors aren't flocking to the city in the numbers they once were. In March 2025, visitor volume was down by 7.8% from the same period last year, according to the Las Vegas Convention and Visitors Authority (LVCVA). Beyond falling visitor numbers, gaming revenue on the Strip, where many of the iconic hotels and Vegas experiences exist, was down 4.8%. Gaming revenue was up on the Boulder Strip and Downtown, but they rake in a fraction of the revenue that the Strip sees. Hotel occupancy in the city reached 82.9%, down from 85.3% last year, and the total room nights occupied was down by 6.1% year over year. On the face of it, a drop of 7.8% in the overall number of visitors to Vegas is a startling reality. The city's tourism-based economy relies heavily on the dollars that out-of-towners spend in their hotels, restaurants, bars, casinos, and more. Although the city is experiencing a drop in overall visitors, not all forms of foot traffic are down. Surprisingly, convention attendance is up by 10%. The spike in convention attendance is due in large part to a recent health care conference, which brought a massive number of attendees to the city. But since this conference rotates locations each year, Vegas likely won't enjoy this conference-related bump to the economy next year. It's clear that visitor traffic is down in Las Vegas, and there appear to be multiple contributing factors. The LVCVA report cited 'a slightly less‐packed event calendar and as‐yet unclear impacts of evolving federal policies rippling through international and domestic markets.' The Trump administration's tariff and immigration policies are unpopular around the world. International visits to the U.S. fell approximately 14% in March from the same period last year, according to government data cited by the U.S. Travel Association in April. It added that 'domestic travel has held relatively steady so far in 2025 — but early signs suggest this momentum may not last.' Many visitors may be choosing to skip a Vegas vacation due to cooling feelings toward the U.S. Last year, the city drew five million international visitors, and more than half were from Canada and Mexico, according to the LVCVA. U.S. relations with both countries have been tense lately. Americans may also be nervous about the economy and spending. A recent Bankrate survey found that only 46% of U.S. adults plan to travel domestically or internationally this summer, down from 53% last year. Sixty-five percent of the non-traveler group said it's because they can't afford it, even though travel costs are actually down compared to this time last year, per Nerdwallet. This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
