MGM, Caesars Maintain Optimism Amid Las Vegas Tourism Declines

Las Vegas tourism has experienced a modest decline in recent months, with an 8% drop in March visitation compared to last year, largely driven by a decrease in domestic travelers, though international numbers have held steady. Despite this, major casino operators MGM Resorts International and Caesars Entertainment report continued confidence in the city's outlook, pointing to strong first-quarter results, resilient demand, and robust forward bookings. MGM's CEO highlighted that while there was a slight year-over-year revenue decrease due to the absence of major events like the Super Bowl, casino revenues and hotel occupancy have increased, and April is expected to be a record month for hotel performance. Both companies are benefiting from strategic partnerships, cost controls, and strong digital performance, with MGM's collaboration with Marriott driving record occupancy and Caesars Digital outperforming market trends. Executives note that economic uncertainties and consumer confidence have affected some travel decisions, but overall revenue per available room has remained steady. The optimism is underpinned by solid group bookings and the expectation that Las Vegas will continue to benefit from its position as a premier events and convention destination.