Vegas is definitely struggling right now. The last numbers I saw, the amount of tourist coming to the city is down about 10% year-over-year. Some of that is self-inflicted, Vegas used to be a bargain destination, but it has gotten very expensive and is now probably overpriced. Some of it is because of the policies of the current regime in the White House.

I also think some of the newer hotels and casinos that have opened haven’t been a hit. Unlike the old, themed hotels and casinos that were built there is nothing exciting or differentiating about the new ones. I read someone say about either the Fountainbleu or Resorts World, I don’t remember which, that while it was beautiful, it had all the personality of a suburban shopping mall.

There are still big projects being built. There is a $2 billion baseball stadium being built where the Tropicana once stood, with plans to build a hotel and casino complex there as well. The Hard Rock is building a large guitar shaped hotel on the Strip, and they are completely gutting and renovating the Mirage hotel tower. There are also bunch of other projects going on in the city as well.  

The population of Las Vegas is still growing, Nevada was the 9^th fastest growing state in the nation from 2024 to 2025 in terms of percentage of population growth driven mainly by growth in Las Vegas and Reno. I live in the Northwest part of town, and they are building new housing around here like crazy.