Las Vegas used to sell the fantasy that a pauper could live like a prince for a reasonable price. It was a proposition built on providing value that helped cement the city’s reputation as one of the world’s premier tourist destinations.

In 2025, that fantasy is costly, the perks are fading, and the city’s hard-earned reputation for value is on the line.

Out-of-town headlines frame the current dip in tourism figures as something of a reckoning for a city accused of forgetting its roots and taking its guests for granted. While reports of the city’s demise are overstated, Las Vegas is grappling with the perception that the value that once defined it is slipping away.

No place like Las Vegas

Tourism officials say the data does not support the argument that Las Vegas is losing its luster.

The number of visitors has increased every year in the post-pandemic era, according to the Las Vegas Convention and Visitors Authority. Last year, 41.6 million people visited the city, the sixth-highest total reported since 1970.

Through the first six months of 2025, visitor volume exceeded 19.5 million, and the number of passenger arrivals at Harry Reid International Airport topped 27.6 million. Both figures are down year-over-year, 7.3 percent and 4.1 percent, respectively.

And while fewer visitors are coming, the impact on Las Vegas gambling revenue is minimal.

Gross gaming revenue is up year-to-date for Clark County as a whole and downtown Las Vegas casinos, and essentially flat (-0.7 percent) on the Strip through June.

At a public meeting earlier this month, LVCVA President and CEO Steve Hill said visitor satisfaction remains high based on customer surveys. In 2023 and 2024, 87 percent of survey participants said they were “very satisfied” with their Las Vegas visit, according to the agency’s annual visitor profile report.

Hill acknowledged “negativity” around value and pricing, but pushed back on the notion that it was a significant issue.

“Las Vegas is still the envy of the tourism and hospitality industry,” Hill told the LVCVA board. “There is still no place like Las Vegas anywhere in the world.”

‘No excuse for price gouging’

But after decades of loyalty to Las Vegas, a growing segment of visitors believes paying $12 for a domestic beer or $26 for a bottle of water or $60 for early check-in is the antithesis of value. Some longtime visitors are starting to question whether Las Vegas resorts value their business.

For Jeff Boyd — who has come to Las Vegas 24 of the past 26 years for March Madness — the experience has become markedly less enjoyable. This past March, he stayed at Four Queens in downtown Las Vegas to avoid paying resort fees. The 64-year-old from Seattle said he is considering spending his money at local casinos rather than getting “squeezed” in Las Vegas.

“I was loyal to Strip casinos. No longer,” said Boyd. “I am never staying at those Strip hotels again due to their nickel-and-diming practices. That is not how you treat your so-called valued guests.”

Bret A., a 62-year-old from Jasper, Tenn., has cut back on trips to Las Vegas because of “ridiculous” charges, such as resort and parking fees, which are the two most-often cited price grievances among visitors. Even as some operators tout summer deals waiving those fees, formerly enthusiastic visitors say it may not be enough to repair the damage.

“Next year, I might not come at all,” he said. “I know Vegas loves to be bigger and better, and there is a feeling that people will continue to pay up. I can tell you, I doubt it.”

Retired table games dealer Cathie Morrone said she loves Las Vegas and wants to see it thrive. But she does not mince words in assigning blame for the city’s current image problem.

“There is no excuse for the exorbitant price gouging going on today,” she said. “When I hear the word corporation, all I think is greed.”

Casinos: ‘Las Vegas still has value’

Those hoping for a return to the “good old days” or a market correction may be disappointed. Many casino and tourism officials are reluctant to accept the premise that Las Vegas is struggling to deliver on one of its core promises.

“Las Vegas is still an amazing value,” MGM Resorts International President and CEO Bill Hornbuckle said during the company’s earnings call last month. While acknowledging the need to “keep an eye on value,” Hornbuckle added, “We all need to change the narrative and continue to keep it positive,” in response to an analyst’s question about declining visitation.

Derek Stevens, co-owner of three downtown Las Vegas casino properties (Circa, The D and Golden Gate), has been pushing back all summer against the narrative that the sky is falling in Sin City. He has addressed a number of issues impacting the Las Vegas market, including political policies, increased labor costs and inflation. The bottom line, Stevens said, is that people are still coming, and they are still spending.

While admitting that certain prices in town are “offensive” and that visitors only have so much disposable income, Stevens said things are much more positive than what is being portrayed.

“I still think Vegas has value in a lot of places,” he said. “Overall, I think things are still pretty good. Maybe they’re not as great as they once were, but they’re still pretty good.”

Earlier this month, LVCVA Chief Marketing Officer Kate Wik said the agency has been focusing on the values in Las Vegas. In detailing recent efforts, Wik talked about paid partnerships and collaborations with social media influencers, in-house social media posts and working with online travel agents to enhance the city’s visibility.

“The underlying message that Las Vegas offers unforgettable experiences at every budget and price point is the theme of a lot of our messaging this past summer,” she told the board.

Getting back to value

Casino operators in the Las Vegas Valley have been working to change perceptions.

Nearly every casino in town is offering something to attract value-seeking customers. From free parking on the Strip to waived resort fees to all-inclusive packages to $1.99 margaritas, Las Vegas casinos are trying to offset the recent bad publicity.

Some are tackling the issue head-on.

On a recent episode of the “On The Corner of Main” podcast, Plaza CEO Jonathan Jossel and Rio President and CEO Patrick Miller discussed the perception of visiting Las Vegas and what can be done to stem the tide of negative stories coming out of the city.

“We’ve got to fix that, as a community,” Jossel said after recounting an international news story that highlighted a visitor paying $33 for a bagel and a cup of coffee. “It’s a concerning trend.”

Miller said it was incumbent upon city and tourism leaders to remember who the core Las Vegas customer is.

“Don’t forget who is coming to Vegas. (It is someone who) wants to have a fun time, an exciting time,” he said. “It’s got to be approachable…(to) have that experience. We got away from that, and we’ve got to get back to that.”

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