Thousands of hotel rooms in Las Vegas are set to disappear with the closures of Tropicana and Mirage properties.
Las Vegas, known for its vibrant gaming scene, is experiencing a shift in its industry landscape in 2025. According to reports by the Las Vegas Review-Journal, the overall room loss for the year was 4,195. This decline is partially attributed to the closure of two iconic resorts, the Tropicana and the Mirage, which together accounted for over 4,500 hotel rooms.
The Mirage, a resort that sparked a boom in megaresort construction along the Strip in 1989, closed last summer. The Tropicana, which first opened in 1957, was demolished in October 2024 to make way for a Major League Baseball stadium. The arrival of the A's will add to Las Vegas' evolution as a sports destination, joining teams like the NFL's Raiders, NHL's Golden Knights, and WNBA's Aces.
Despite these closures, the city is not standing still. The region expects to make up for the lost rooms with new construction in 2025 and beyond. One of the most significant projects is a 384-room tower at M Resort in Henderson, expected to be completed this summer. Before the Hard Rock's opening, the region is expected to add more rooms in 2025 from six projects. One such addition is the remodeling project at Circa Resort and Casino in downtown Las Vegas, which added 106 rooms.
The Hard Rock resort at the former Mirage site remains a significant upcoming development. This project aims to modernize and refresh a prime location on the Strip, though specific construction or opening timelines were not detailed in the current data. It is expected to open in 2027 with 3,640 rooms.
The gaming industry in Las Vegas is experiencing mixed trends. The Las Vegas Strip's gaming revenue saw a 2.7% decline in December 2024, driven largely by a 16% drop in table games, although slot machines experienced a 2.3% revenue increase, hitting an all-time high for December. Statewide, Nevada’s overall gaming was down slightly (-2.2% through May 2025 versus the prior year), making it one of the few states reporting a decline amid generally rising commercial gaming revenues nationwide.
Sports betting continues to be inconsistent in Nevada, with notable fluctuations. February 2025 saw a 9% year-on-year revenue drop as revenue declined from a Super Bowl boost experienced in the same month of the previous year when Nevada hosted the game. On the other hand, Buffalo Bill's casino south of Las Vegas closed in early 2025, confirming some contraction in older or less competitive properties. Resorts World Las Vegas faced a $10.5 million fine related to illegal gaming activities, signaling regulatory challenges at some new or major properties.
Despite these challenges, Vegas is continuing to expand its appeal through partnerships and new entertainment-focused investments. The Westgate Las Vegas Resort has partnered with the WNBA’s Las Vegas Aces, and Caesars Entertainment is collaborating on boutique hotel ventures including The Vanderpump Hotel. These developments reflect efforts to diversify entertainment offerings and boost visitor traffic beyond gaming alone.
Visitors to Las Vegas in 2025 numbered 40.8 million, with an occupancy rate of 83.4%. The average daily room rate in Las Vegas is $191.29. As the city continues to evolve, it is clear that the gaming industry will remain a significant part of the city's identity, but it is also pursuing new large-scale developments like the Hard Rock resort and the MLB stadium at Tropicana, as part of a broader strategy to enhance the city’s entertainment and tourism landscape beyond gambling alone.
References: 1. Las Vegas Review-Journal 2. Nevada Gaming Control Board 3. Nevada State Gaming Control Board 4. American Gaming Association
- The closure of two iconic resorts, the Tropicana and the Mirage, in Las Vegas led to a decline in room loss for the year, amounting to 4,195.
- The Mirage, a resort that sparked a boom in megaresort construction along the Strip in 1989, closed last summer, making way for the Hard Rock resort expected to open in 2027.
- The Tropicana, which first opened in 1957, was demolished in October 2024 to make way for a Major League Baseball stadium, adding to Las Vegas' evolution as a sports destination.
- Sports betting continues to be inconsistent in Nevada, with notable fluctuations and regulatory challenges at some new or major properties.
- Despite challenges in the casino industry and the decline in room loss, Las Vegas is pursuing new large-scale developments like the Hard Rock resort and the MLB stadium at Tropicana, aiming to enhance the city’s entertainment and tourism landscape beyond gambling alone.
