Mark Cuban has officially sold his large stake in the NBA’s Dallas Mavericks to the Adelson family, supporting his long-held idea of building a new casino-resort in Dallas. This proposal is a part of an alliance with Dr. Miriam Adelson and the Las Vegas Sands Corp., owned by her family. The new resort would feature a new arena for the Mavericks as its main attraction, with the condition that gambling is legalized in Texas.
Cuban expressed his excitement for the proposal, believing that it would make Texas an even more amazing destination. While the specific location of the proposed project remains unclear, there are suggestions to build it next to the future redevelopment of the Dallas Convention Center, or within the city proper of Dallas itself.
David Cordish, the president and CEO of Cordish Cos., also sees potential in the idea, referencing the success of similar concepts in other parts of the country. However, the reality of Cuban’s wish to bring casino gaming to Texas is far from certain. The state has a history of anti-industry lawmakers, and constitutional amendments would be needed to legalize casino gaming, which requires a two-thirds vote from lawmakers.
Lieutenant Governor Dan Patrick has expressed opposition to the idea of expanding gambling in Texas, making it a difficult landscape for Cuban’s proposal. Moreover, Texas residents would have to wait until 2025 for any chance of sports wagering and casino gaming, as the state’s legislature only meets in odd-numbered years.
Despite the challenges, Cuban remains optimistic about the potential of a casino-resort in Texas, prompting ongoing discussions and debates about the feasibility and future of gambling in the Lone Star State.