For today’s Inside Wall Street, I’m coming to you from the iconic Bellagio Hotel & Casino.

I went to Nevada to check out a lithium miner for paid-up subscribers. And while I was there, I made a quick stop at this Vegas institution.

In today’s video, we’ll look at…

  • How you can take a page from country legend Kenny Rogers’ book to survive – and thrive – in the markets in 2023.

  • A moneymaking opportunity that is gaining traction in Vegas, according to executives and folks who have worked there for years.

  • And a one-click way you can position yourself for profits.

The video is just over three minutes long. To watch it, click the image below. Or you can scroll down to read the transcript.


To share your thoughts on my latest video update, just drop me an email at [email protected]. Just keep in mind, we can’t give personalized investment advice.

Regards,

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Nomi Prins
Editor, Inside Wall Street with Nomi Prins

TRANSCRIPT

Hi everybody, Nomi here. I’m coming to you from the heart of the Vegas strip.

Behind me, you will see the world-famous… the iconic… Bellagio Hotel. It has been featured as a landmark in so many commercials, magazines, and movies – like one of my faves, Ocean’s Eleven.

The property is huge. It sits on nearly 77 acres. And when it was built, it was the most expensive resort hotel of its kind.

Today, it’s owned by the Blackstone Group and operated by MGM Resorts International. But more on that in just a moment.

You see, I first came to Vegas in my early 20s, while I was working at the Chase Manhattan Bank and working on my Master’s in Statistics and Probability Theory at the same time at NYU.

A savvy, just awesome professor of mine convinced the Operations Research Department there to allow him to bring five of his top game theory students – including me – to Vegas…

To see firsthand how the theory of statistics and probability in gaming settings goes totally out the window when real people’s emotions get involved.

What we learned back then from a crazy few days roaming the strip is something that remains true…

To have real success when money is on the line, you’ve got to have a strategy. And luck is not a strategy.

As the great Kenny Rogers once said in his song “The Gambler,” the secret to surviving is knowing what to throw away and knowing what to keep.

Timing matters, too.

Today, as we face considerable volatility and uncertainty, that means having a strategy and being humble, nimble, and patient will allow you to go really far.

This $73 Billion Trend Is an Opportunity for You

Yesterday, I had the opportunity to speak with a number of business executives and folks that have worked around Vegas for years.

And what I learned is that one of the new opportunities that’s gaining traction at places like the Bellagio, Caesars, the Wynn, and beyond is something that goes beyond their properties here.

And that’s sports betting.

Today, only 16 U.S. states don’t have sports betting platforms – including California, Texas, and Florida. States with massive populations remain on that list.

This year, there are four more states that could adopt online sports betting.

In the first 10 months of 2022 alone, Americans wagered $73 billion legally on sports. That’s up 70% year over year. And that shows both a trend and an investment opportunity for you.

While I’m not advocating, suggesting, or even taking a position on sports betting here, it matters for the business future of places like Vegas and the drivers behind resorts like the Bellagio.

That’s because it offers yet another outlet for investment partners like MGM Resorts International to diversify its portfolio, build out its customer base, and meet its consumers where their demands are.

And in a year with increasingly more talk of recession, continued inflationary pressures, and high interest rates… Long-term, diversified opportunities are a good bet.

Diversification does not always mean a bundle of sectors. It can also mean stocks with diversified businesses.

One way to take advantage of this approach is to invest in the Vanguard Mid-Cap ETF (VO).

[VO is an exchange-traded fund (ETF) that holds a diversified group of medium-size companies. It holds 348 names, including Dollar Tree, American Water Works, and Archer Daniels Midland.]

Happy investing, and I’ll talk to you soon.