The decline in tourism has put a dent in the Las Vegas Convention and Visitors Authority’s revenue stream with room tax and gaming fee receipts down 14 percent from a year ago in the first quarter of the 2025-26 fiscal year.
LVCVA Chief Financial Officer Jim McIntosh told board members Wednesday a drop was anticipated — but not as much as what occurred and a robust convention calendar in early 2026 should help toward a rebound.
Board members didn’t comment on a quarterly report presented Wednesday that said room tax and gaming fee receipts are off 14 percent to $73.9 million for the quarter, while Las Vegas Convention Center space rentals are down 9 percent to $6.8 million and Las Vegas Monorail farebox receipts are off 13 percent to $5.7 million for the quarter.
Overall, quarterly revenue is down 14 percent to $91 million.
LVCVA President and CEO Steve Hill said the reason for the tourism slump is a general uncertainty about the nation’s economy that is prompting a pullback in discretionary spending.
“You can open any publication any given day and see a story about housing construction that really affects everybody who builds houses,” Hill said.
“The auto industry is concerned about the impact of tariffs on what’s going to happen in the auto industry. All of that affects people. It may not directly affect their pocketbook, but it certainly affects their concern about the future, the uncertainty that they may have, and it causes them to make the decision to postpone discretionary items at times,” he said.
This is a developing story. Check back for updates.
Contact Richard N. Velotta at rvelotta@reviewjournal.com or 702-477-3893. Follow @RickVelotta on X.
Leave A Comment