Las Vegas has logged six straight months of year-over-year visitor declines, with June alone down 400,000 guests amid economic jitters, inflation, and weaker Canadian travel. Yet in Orlando, Epic Universe’s Monsters Unchained just passed a million visits, SeaWorld hit record attendance, and Disney reported another record quarter. Plus, fan conventions nationwide are posting record attendance. As consumers become more savvy, one answer could be that generic “something for everyone” models struggle to cut through, while focused, IP-driven events keep thriving. Is Vegas a canary in the coal mine for U.S. leisure spending—or just a regional wobble?  Listen to weekly BONUS episodes on our Patreon.