Latest / Winning With Winans! / From Sports Capital to Financial Capital? Nevada's Next Big Opportunity
Transcript
- speaker-0: But why is it not possible to have Las Vegas become a financial center? Do you see any reason at all why we could not pull that off? speaker-1: I don't see why not. And and let me give you an an example here. when I was on the Las Vegas City Council ⁓ about ten years ago, maybe twelve years ago, we were trying trying to get a professional sports team here to Las Vegas. And every one of them said, We'll never come to Las Vegas. We will never have sports in Las Vegas because you can't mix gambling and players and teams and and sports together. There'll be corruption, you know, all this talk and the never we are the sports capital of the world today. We have ⁓ hockey, football, ⁓ baseball's coming and basketball's coming. UFC, we have ⁓ women's basketball, we have we're we're this we have F1, we have NASCAR, we're the sports capital of the world today. Fifteen years ago, nobody ever thought that was going to happen. Why can't that happen in the financial services here speaker-0: UFC. speaker-1: In Las Vegas and Nevada. And you would know better than than me. I mean, you've written books on finances, articles. ⁓ but ⁓ w we are the the interesting thing about Nevada is we are always trying to be cutting edge, trying to do the next thing. And ⁓ if we can become a financial hub here in Nevada, why not? There's no reason why we shouldn't be. And obviously we need to rely on your expertise to make that happen. But if there's anything I can do, ⁓ as lieutenant governor, as ⁓ member of the governor's office of economic development to attract financial companies here. ⁓ who knows what we're gonna look like fifteen years from now. So I'd love to have that conversation with with ⁓ the financial industry that is thinking about making their headquarters in Nevada. speaker-0: Well, remember we had lunch. I think I handed you a list. I think I I think there I said there's 3,200 companies that run or, you know, investment management type companies in in California. Here's the thing. I mean, I left. I mean, and I'm I'm I'm just knock on wood, a top ranked and morningstar manager, all that stuff. But imagine if we were to go to some of these big guys like Pimco or Franklin Templeton or iShares and say, hey, look, all you have to do is go three hours east, guys. Three hours and suddenly your tax problems disappear, your regulatory problems disappear. You get to go to a great community who loves capitalism. You will never be dealt, you know, you no one's gonna harass you. And but here's the thing, Stavros, nobody thought Texas would become a financial center. Certainly not in where we are today or Florida. So I got I guess I go, why not? Let's give it a try. speaker-1: Yeah, in fact, ⁓ I think I'm gonna make you the spokesperson for the state of Nevada when it comes to the financial what you just said is perfect. That's what we need to let these financial companies know. That ⁓ if they come here, there's no ⁓ state income tax, property taxes are lower, regulations are lower, licensing requirements are lower, la land prices, even though they're going up, they're lower. ⁓ the we are a business friendly state, especially compared to California. That is the worst state to open up a business. So ⁓ we're gonna make you the the the poster guy for attracting financial company. speaker-0: Get an honorary title. Yes, I'll be in on giving me my marching orders. Yes. Head west, my son. Head west. Absolutely.