Hotels and casinos in Nevada, California keep going bankrupt | Official Website of Louis Velazquez, entrepreneur, finance guy and tech innovator

With the city of Las Vegas home to over 300 hotels and 150 casinos, not all of them survive the market and manage to bring in enough visitor dollars to remain profitable.

With many Canadians continuing to boycott U.S. travel after President Donald Trump imposed tariffs and repeatedly called their country a “51st state” earlier this year, the city’s tourism industry lost a significant stream of income.

Hotel industry analysis group STR calculated that Las Vegas occupancy rates dropped by 14.9% in June and are expected to plunge by as much as 20% by the time the numbers for July and August are calculated. Many cities in California are seeing similarly high drops: in San Diego, occupancy dropped by 13.8% in April from 2024 while San Jose hotels saw a 7.8% drop in the same month.

Hotels and resorts in more rural locations are seeing even more dismal numbers.

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While financial troubles loom, Nevada casino resorts continue operations

Earlier this month, resort and casino operator Maverick Gaming filed for Chapter 11 protection in the U.S. Southern District of Texas. The Kirkland, Washington-based company owns five casinos across Nevada, Colorado, and Washington and reported that it currently has between $100 million and $500 million in liabilities.

The Nevada properties include a combined 1,200 hotel rooms, 1,700 slot machines and 43 table games. The Washington resorts also have 17 card tables used by visitors specifically seeking out the hotels for gambling trips.

As part of its bankruptcy filing, Maverick said it has shuttered Washington hotels such as Palace Casino in Lakewood, Dragon Tiger Casino in Mountlake, and Silver Dollar Renton and Roman Casino in Seattle, while the Nevada properties are continuing to operate as it seeks bankruptcy protection.

Maverick Casino & Hotel, Gold County Casino, and High Desert Inn in Elko, as well as Wendover Hotel & Casino and Red Garter Hotel & Casino in West Wendover, are currently accepting guests and continuing operations as usual.

Nevada Gaming Control Board Chairman Mike Dreitzer told local news outlets that the board is monitoring the situation. Other officials and hotel administrators said they were only informed of the parent company’s struggles when news of the bankruptcy broke.

Two Wyndham properties in California recently filed for bankruptcy.

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‘The first that I’ve heard of these challenges’

“This is the first that I’ve heard of Maverick’s challenges,” Elko Mayor Reece Keener said in a statement. “These properties have been an Elko staple for more than a generation, and I’m confident that they will recover from this setback.”

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With traveler numbers seeing particularly high drops in a number of Western states, two Wyndham (WH) properties in California also filed for bankruptcy in June 2025.

The 102-room Super 8 in the Livermore suburb east of San Francisco did so after defaulting on a $7.7 million loan from the State Bank of Texas, while the 113-room University Inn & Suites in Berkeley similarly defaulted on a $10.5 million loan that JPMorgan Chase (JPM) provided in 2019.

“A lot of the hotel markets that are primarily business-oriented, such as San Francisco, Oakland, and San Jose, are struggling the most,” California hotel industry analyst Alan Reay said in an interview with local outlets.