Live From “Win City”

[Wide Moat Daily]( Live From “Win City” By Brad Thomas, Editor, Wide Moat Daily As my editor noted on Monday, I’m out here in Las Vegas once again. This time, it’s for the 2024 Stansberry Conference & Alliance Meeting. It seems I can’t get enough of Vegas this year. And, as I noted last on September 10, I’m not even close to being alone. I wrote then how I’m getting: … an up-close-and-personal personal perspective on Las Vegas vitality. A boots-on-the-ground view to add to my academic analysis that this place is thriving. People want to be here. And why not when the city has so much to offer? You can read the rest of that writeup [here]( including my take on the city’s newest features and the international crowd it’s increasingly attracting. But for today, I want to share parts of the presentation I just gave on Monday. Because it’s well worth the update. Brad signs copies of his book, The Intelligent REIT Investor On that note, the Stansberry Conference really is an awesome event in an awesome town. And I highly recommend you keep your eyes open next year for when 2025 tickets go on sale. But for now, let’s have a closer look at “Win City.” The growth prospects are very compelling. A Surprising Source of Growth That Needs To Be Noticed One of the first points I brought up was Las Vegas’ visitor volume. Here are the numbers between 2014 and 2023: - 2014 – 19 million - 2015 – 89 million - 2016 – 31 million - 2017 – 65 million - 2018 – 65 million - 2019 – 5 million - 2020 – 73 million - 2021 – 21 million - 2022 – 99 million - 2023 – 99 million As you can see, visits to Las Vegas peaked between 2017 and 2018. And we all know they outright plunged in 2020 under the shutdowns. Most people stayed far, far away in 2021 as well. It led many to wonder if the typical crowded Las Vegas experience was gone for good. There were plenty of bearish predictions about it… hotels… airlines… and just about everything else associated with in-person entertainment. That was proven wrong in 2022 when visitor volume leaped by 20.78 million visits. And, last year, it leaped again to 50.99 million. Yes, that’s still millions short of its peak. But the trend is clear. Las Vegas visitor volume is ticking up. For all you skeptics (healthy or otherwise) on the subject, check out this next chart I shared… In short, there’s a massive, growing need for workers in “Win City.” Moreover, there’s a massive number of workers who have responded to that need. Despite visits themselves “lagging” last year compared to 2019… employment has hit record highs. Total employment ended at 1.14 million in 2023 – up notably over the pre-pandemic’s 1.03 million. The employees are working at new attractions like The Sphere, Allegiant Stadium for the Las Vegas Raiders, and so many more. Las Vegas Offers Growth Opportunities Galore Here’s another interesting chart along the same lines: We don’t have the final 2024 numbers in yet, of course. But according to the UNLV Center for Business and Economic Research, employment should hit: - 59 million in 2025 - 665 million in 2030 - 744 million in 2035 Clearly, UNLV’s sources are planning ahead for big things. That’s also why Vegas’ population growth is projected to steadily climb over the same period. Which only makes sense. All those employees are going to need somewhere to live. Just as naturally, there are plenty of organizations – both publicly traded and otherwise – looking to capitalize on all this ultimate business growth. Sports teams in major leagues like the MLB, NFL, WNBA, and Formula 1 Racing all have official sporting facilities there. The same goes for casinos, hotels and resorts… but also big tech firms, construction companies, and trade, transportation, and utility companies. Naturally, I’m most focused on the real estate sector. And many of you already know my admiration for real estate investment trust (REIT) VICI Properties (VICI). It owns properties all over the U.S. and in Canada. Yet, without a doubt, Vegas boasts some of its crown jewel properties, from Caesars Palace to the MGM Grand to the Venetian Resort. The company isn’t kidding when it calls them “three of the most iconic entertainment facilities on the Las Vegas Strip.” Which therefore makes them three of the most famous of their kind worldwide. I remain very bullish on VICI. But if the numbers I’ve now shown both Stansberry attendees and you are to be believed… then there are plenty of other businesses to seek out as well. That’s why I double-booked myself this week to also attend the National Business Aviation Association (NBAA) Business Aviation Convention & Exhibition. In fact, I met with the CEO of one aviation-specific real estate company on Tuesday to dig deeper into an investment lead I’ve been following over the last few months. Never let it be said that I don’t do my due diligence. I can’t tell you I’ve made an official decision on this publicly traded investment yet… though my level of interest keeps growing. So, I’m guessing I’ll be sharing more details with readers soon enough. As always, make sure to stay tuned. Regards, Brad Thomas Editor, Wide Moat Daily [Wide Moat Research]( Wide Moat Research 1125 N Charles St, Baltimore, MD 21201 [www.widemoatresearch.com]( To ensure our emails continue reaching your inbox, please [add our email address]( to your address book. This editorial email containing advertisements was sent to {EMAIL} because you subscribed to this service. To stop receiving these emails, click [here](. Wide Moat Research welcomes your feedback and questions. 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