Products are selected by our editors, we may earn commission from links on this page.
Las Vegas welcomed about 38.5 million visitors last year, a 7.5% drop from 2024, according to the Las Vegas Convention and Visitors Authority. Rick Harrison, owner of the Gold & Silver Pawn Shop and the face of “Pawn Stars,” has a clear read on what’s driving the decline. His own business, meanwhile, posted record-breaking months in January and February of this year.
Harrison points to pricing as the core issue. Hotels and casinos along the Strip have raised the cost of rooms, food, and experiences well beyond what many travelers are willing to pay, he told Fox News Digital. His view is that venues have options, and when those options feel expensive, visitors go elsewhere. Casinos that stay competitive on price, like Circa Resort & Casino, stay packed.
He sees the same principle playing out in his own shop. Harrison has resisted charging admission despite drawing thousands of visitors a day, because keeping the door open and the experience free keeps people coming back and spreading the word. “You give customers what they want, and they return,” he said.
Falling Numbers, Shifting Markets
Canadian tourism has been one of the most discussed factors behind the drop. Casino owner Derek Stevens previously told Fox News Digital that Canadian visitors are down anywhere from 20% to 50%, depending on the month.
Harrison is also seeing a pullback in Asian tourism, which he attributes less to Las Vegas specifically and more to currency and broader economic pressures abroad. The trends reflect how much the city depends on international visitors, who are sensitive to exchange rates and global economic conditions.
Strip gaming revenue fell 11% year over year, dropping from roughly $840 million in January 2025 to about $747 million in January 2026, according to the Nevada Gaming Control Board. Statewide, nonrestricted gaming licensees reported a total win of around $1.35 billion in January 2026, down 6.55% from the same period the year before.
The Bigger Shift Happening on the Strip
Poker rooms are also quietly disappearing. Resorts World closed its poker room on March 30, leaving just eight rooms open on the Strip, according to the blog Vital Vegas. A casino representative confirmed the closure to Fox News Digital, noting that new gaming offerings would replace the space, though no specifics were shared.
Harrison does not believe gambling itself is going away, but says the business model around it has to change. Younger visitors gamble less, and the old model of cheap rooms and food subsidized by gambling revenue no longer holds. “Nowadays, younger people don’t gamble as much, so you have to change your business model,” he said. The U.S. online gambling market is projected to reach $22.2 million in revenue by 2030, according to Grand View Research.
Commentator Robby Starbuck, who spoke separately with Fox News Digital, said nearly everyone under 40 who bets seems to do it online. Harrison’s take is more measured: Las Vegas has always adapted, and the casinos that update the experience, adding entertainment, energy, and value, are the ones still drawing crowds.
What Harrison Thinks Vegas Still Has Going for It
Gas prices are adding another layer of pressure heading into summer. Harrison noted that Las Vegas gas has crossed five dollars a gallon, driven by oil prices hovering near $100 per barrel amid the ongoing conflict with Iran. Because Nevada relies on California refineries, prices are somewhat lower than across the state line, but still a burden for the California residents who make up a significant share of Vegas tourism.
Even so, Harrison remains upbeat about the city. He sees Las Vegas as a place unlike anywhere else, one with world-class conventions, concerts every weekend, and an entertainment calendar that most cities can only approximate. His advice to the industry comes back to keeping prices fair and making the experience worthwhile, and the visitors, he believes, will follow.
“This is still the greatest city in the world,” Harrison said. The casinos and venues that understand that, and act accordingly on pricing and experience, are the ones he expects to weather the current stretch. For the others, the pressure from declining visitor numbers may be the push they need to course-correct.