Las Vegas is experiencing a significant tourism slump, with visits down 11.3% year-to-date, occupancy rates down 6.5%, and room prices dropping 6.6% to around $163. Millennials and Gen Z are skipping trips to Sin City, contributing to a $12.5 billion loss in U.S. summertime tourism—partly due to political climate concerns. For tipped workers in Vegas, income is down about 50%. Meanwhile, online gambling is booming at $12.6 billion annually, drawing away the same audience that once filled Vegas casinos.
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