Mark Cuban, one of the billionaires in the United States, aspires to build a multi-billion-dollar casino resort that has a National Basketball Association (NBA) arena for Dallas Mavericks. Yet, his plan is a long-shot endeavor now since Texas banned commercial casino betting. Still, Cuban is willing to collaborate with Las Vegas Sands.
The billionaire believes that an integrated casino resort having an NBA arena will attract players from outside Texas. Sands is a leading casino operator running resorts in Singapore and Macau. It sold its domestic interest a few years ago.
The operator sold its Pennsylvania casino in 2018 for $1.3 billion. The late Sheldon Adelson founded it and Venetian Palazzo resorts bought it for $6.25 billion two months after Adelson’s demise in January 2021.
Sands has opted to focus on Texas in its next development. Cuban resides in the Lone Star State and is reported to have a $4.6 billion net worth.
Cuban recently revealed that he aims to develop an arena with casino and resort amenities. He informed The Dallas Morning News that his mission is to develop a casino with a thrilling gaming experience. But, his current mission is to urge state lawmakers to approve commercial casinos with sports gambling, table games, and slot machines.
The Texas Casino’s Odds
The Texas Legislature has introduced many bills in recent sessions. They intend to form a regulatory framework that will allow casinos. Unfortunately, both chambers of the bicameral body haven’t supported gambling.
Texas Senator Carol Alvarado(D-Houston) intends to deliberate more about the plans in 2023. She confirmed that she will introduce a bill next year to allow sports gambling and casino gaming.
The senator added that her legislation resembles her 2021 casino bill that wanted to allow big cities to consider approving new gaming licenses. Dallas is Texas’ third-most populated city and it has almost 1.3 million residents.
The state’s conservative legislature might take some time before it approves a casino. Mark Jones, Rice University’s political scientist, claimed that the current tide is favoring casino gaming. He added that casino gambling’s passage has better conditions now unlike in the past.
Jones stated that sports gambling will be a fallback if lawmakers fail to pass casino betting. Cuban wants full betting including tables and slots.
Texas Requires More Destinations
He said that the state would earn billions of dollars from destination resort casinos, and this would be one of its economic benefits. The tycoon consistently pledges to commit to Dallas. Proper, a city that earned him a lot of money when he relocated in 1982.
Cuban dismissed offers from Texas, Frisco, and several suburbs to develop his team’s practice facility outside Dallas. He wants to retain the Mavericks staff in Dallas and is optimistic that constructing the team’s arena in a casino resort will attract many regular players.
The billionaire claimed that Texas currently lacks an ideal vacation site where tourists can spend their holidays. He added that the state lacks a destination resort.
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