Las Vegas Strip Declines Aren’t a Red Flag—They’re a Reset
Las Vegas Strip Declines Aren’t a Red Flag—They’re a Reset
Despite six consecutive months of slight year-over-year revenue declines on the Las Vegas Strip, analysts remain optimistic about the city’s overall performance heading into 2025. And at GMA Consulting, we agree.
Josh Swissman, Founding Partner and Managing Director at GMA, provided perspective in a recent CDC Gaming Reports article, emphasizing that these small dips are not only expected—but healthy.
“I said we were going to see that growth taper off, with months of flatness or slight declines, and that’s where we are right now,” Swissman explained. “I’m not overly surprised. But if we start to see continuing decreases, I’ll worry a bit more. For now, we’re in a good place. The industry and Vegas are healthy.”
At GMA, we see the current trend not as a downturn, but as a stabilization after two unprecedented years of post-pandemic growth. With Strip revenue down only 1% year-over-year, and visitation, convention attendance, and international air traffic all trending upward, the fundamentals remain strong.
Swissman also pointed out that broader macro factors—such as the certainty around national leadership and the lingering effects of regional events like California wildfires—may temporarily impact traveler behavior but won’t derail the Strip’s momentum long-term.
“I think you’re going to see this place of settling on the Strip—and in my mind, that’s not a bad thing.”
From our viewpoint, Las Vegas isn’t declining—it’s normalizing. And that provides a strong foundation for smart reinvestment, strategic growth, and long-term opportunity.
For a more detailed analysis, refer to the original article on CDC Gaming: Six Straight Monthly Declines on Las Vegas Strip Not Worrying Analysts.