The upcoming Super Bowl LVIII in Las Vegas is expected to draw a large crowd to the city, and hotel room prices are reflecting that demand. According to a report by Wells Fargo Securities, room rates at MGM Resorts are averaging $1,078 a night for the weekend of February 9-11, not including additional resort fees. This represents a 13% increase from previous Super Bowl coverage. The Venetian is averaging $1,266 a night, while Wynn and Encore are charging a staggering $2,833 a night.
For budget-conscious travelers, there are more affordable options available. The Red Rock west of the Strip is offering rooms for $400, Horseshoe for $259, and Sahara for $470. Downtown Las Vegas also has cheaper rooms, with the Golden Nugget priced at $340, Four Queens at $313, and El Cortez at $270.
The increase in tourism for the Super Bowl is expected to make it the biggest event in Las Vegas history. It marks a significant change from just six years ago when the city was shunned by the NFL due to its extensive sports betting. However, the landscape shifted in 2018 when the US Supreme Court overturned a federal ban on single-game wagering, leading to the legalization of sports gambling in nearly 40 states.
Nevada sportsbooks are also anticipating a record-breaking weekend, with optimism that the previous betting handle of almost $180 million during Super Bowl LVI in 2022 will be surpassed. This optimism is shared by oddsmakers, who historically have had a winning record in the NFL title match. Since the Nevada Gaming Control Board began tracking Super Bowl results in 1991, oddsmakers have only lost twice, in 1995 and 2008, and otherwise have a 30-2 record.
As the NFL Divisional Playoffs approach, four teams will move one step closer to Las Vegas. The Baltimore Ravens, San Francisco 49ers, Detroit Lions, and Buffalo Bills are all favorites in their respective matchups. This sets the stage for an exciting Super Bowl LVIII in Las Vegas.