Allegiant Stadium Draws Crowds Despite Las Vegas Downturn

Raiders games and major events fuel stadium's growth in 2025 despite 7.5% drop in Vegas tourism.

Published on Feb. 17, 2026

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Allegiant Stadium in Las Vegas saw a rise in attendance in the last three months of 2025 compared to the same period in 2024, despite a 7.5% decline in overall Las Vegas tourism. The stadium drew 1.7 million fans in 2025 and has hosted 7.4 million attendees since opening in 2021, outperforming the city's weaker room tax collections.

Why it matters

Allegiant Stadium's ability to draw crowds during a downturn in Las Vegas tourism highlights the city's status as a premier sports and entertainment destination. The stadium's performance is crucial for paying back the $750 million in public funding used for its construction, as the room tax revenue that funds these bond payments has declined alongside the drop in visitors.

The details

In the fourth quarter of 2025, Allegiant Stadium drew 531,609 attendees for 38 events, up from 512,145 for 40 events in the same period in 2024. The top five most attended events were all Raiders games, with the November 17th game against the Dallas Cowboys drawing the largest crowd of 60,327 fans, 68% of whom were from out of town. Other major events included a Paul McCartney concert, the Las Vegas Bowl, and HBCU Classic games.

  • In the fourth quarter of 2025, Allegiant Stadium drew 531,609 attendees for 38 events.
  • In 2025, events at Allegiant Stadium drew 1.7 million fans, up from 1.4 million in 2024.
  • Through December 2025, $28.9 million in room tax revenue has been collected, 7.5% lower than the budgeted $31.2 million.

The players

Allegiant Stadium

A $2 billion stadium in Las Vegas that is home to the NFL's Las Vegas Raiders and hosts a variety of other events.

Mark Davis

The owner of the Las Vegas Raiders.

Jeremy Aguero

A principal at Applied Analysis who served as stadium authority staff when Allegiant Stadium was being planned and built.

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What they’re saying

“It says a lot about Las Vegas as the sports and entertainment capital of the world because it's concerts and sports that are doing it.”

— Mark Davis, Raiders owner (Las Vegas Review-Journal)

“All of sudden you changes that, you get a little more of a home field environment, I don't think there are any better fans on planet earth than Raiders fans once they feel like they can get behind that team. It's been a few difficult years for them, but they are finding their way forward.”

— Jeremy Aguero, Principal, Applied Analysis (Las Vegas Review-Journal)

What’s next

With the Raiders holding the No. 1 pick in the upcoming NFL draft and having around $91 million in cap space, building a winning team could change the fan turnout at Allegiant Stadium and create a stronger home field advantage for the team.

The takeaway

Allegiant Stadium's ability to draw strong crowds during a downturn in Las Vegas tourism underscores the city's status as a premier sports and entertainment destination. However, the stadium's long-term financial success remains tied to the performance of the Raiders and the city's ability to attract major events that can offset declines in room tax revenue.