Mark Cuban, the leader and owner of the Dallas Mavericks, shared his desire for casino-centered resorts to be located in Texas during Chase’s Make Your Move Summit last week, as reported by the Dallas Morning News.
Cuban, who has a net worth of approximately $6.2 billion, believes that resorts with casino games in Texas could attract a plethora of tourists. He stated, “When you think of all the places you want to save up to vacation, Texas isn’t one of them. There’s no real destination that you save up for. That’s a problem, and I think resort gaming would have a huge impact.”
In his vision for gaming in the Lone Star State, Cuban proposed placing the newest arena for the Mavericks in the middle of the casino-centered resorts, serving as the centerpiece of the entire property. He also expressed his desire to form an alliance with Las Vegas Sands for this endeavor, which would involve a makeover of the American Airlines Center.
However, the realization of Cuban’s wish is far from reality due to the state’s history of anti-industry lawmakers and a budding sports wagering market. To legalize casino games in Texas, a constitutional amendment would be required, needing a minimum of two-thirds votes from the lawmakers. Texas Lieutenant Governor Dan Patrick stated that sports wagering and the casino industry are struggling to gain favor with Texas lawmakers.
Furthermore, Texas residents will have to wait until 2025 to have a chance of using sports wagering and casino gaming, as the state’s legislature only meets in odd-numbered years. This delay has caused gambling firms to bypass the opportunity-rich market of 30 million inhabitants.
The demand for gaming in Texas is evident, with 1.14 million individuals attempting to place wagers in the state between September 1st and October 23rd, reflecting a 68.5% annual growth. This surge coincided with the Texas Rangers’ appearance in the MLB’s American League Championship Series against the Houston Astros, with over 20,000 betting attempts noted during the last 3 games of the series.