Las Vegas Visitation Struggles Endure, But Casinos Benefit From Strong Baccarat

The driving force behind this growth has been baccarat. The game generated $114.4 million in August, a staggering 51% increase compared to the same month in 2024. Across the summer, baccarat win surged nearly 30%, offsetting declines in other areas of casino operations.

Analysts highlight that baccarat is particularly resilient during downturns because it relies heavily on high rollers, whose spending patterns remain less affected by visitation dips. This has given Las Vegas casinos a cushion even as mass tourism continues to lag.

However, the sustainability of this trend is uncertain. Operators face rising costs, labor shortages, and global travel fluctuations that could weigh on future profits. Experts suggest casinos may lean further into premium offerings and luxury experiences to capture more value from affluent guests while waiting for broader visitation to recover.