Mark Cuban was one of the key shareholders of the National Basketball Association’s (NBA) Dallas Mavericks. Yet, he stunned many people when he decided to sell his stake to the Adelson family.
Even so, the tycoon has a new proposal in which he has partnered with Las Vegas Sands Corporation and Dr. Miriam Adelson whose family runs the company, to develop a casino in Dallas. The gaming property’s key attraction will be the basketball team’s new arena. Nevertheless, Texas has to legalize gaming for Cuban’s proposal to succeed.
He informed the Dallas Morning News that Texas has a huge potential in casino gaming. David Cordish, Cordish Company’s Chief Executive Officer and President, has the same opinion as Cuban. His company built the Texas Live complex in Arlington, near the Globe Life Field.
Cuban sent an email stating that merging mixed use and entertainment in the casino is an amazing business strategy. The Dallas Business Journal reported that Cordish said he lacks sufficient information to discuss Cuban’s gaming plans in Dallas. However, the investor has successfully applied similar concepts in other states.
Cordish stated that his company used the formula in the past when constructing two Hard Rock casino resorts in Florida. Still, they are among the leading gaming venues in the country now. The Cordish has built several casino complexes in Pittsburgh, Philadelphia and Maryland which are posting encouraging performance results.
Does the Casino Have a Specific Location?
The proposed casino location doesn’t have a particular location. Zarin Gracey, a Dallas City Council member, recently informed NBC 5 that the casino will be adjacent to the future $3 billion Dallas Convention Center redevelopment project.
Still, Cuban told the Morning News while commenting on the casino’s location concern that there isn’t a specific reason why they cannot develop a huge gaming resort in Dallas City. Moreover, it has many suitable areas where they can build it.
Is the Project Realistic?
Cuban attended the Make Your Move Summit which Chase organized. He stated that he hopes Texas will host a casino resort soon. But, his desire to offer casino games differs with the current reality since Texas has a budding sports gambling industry and its legislators have opposed casino gaming for a long period.
A constitutional amendment is essential for the state to allow casino games. It should get the support of at least two-thirds of the legislators. Therefore, 21 or more out of the state’s 30 senators need to vote for the amendment.
Covers.com reported that Dan Patrick, Texas Lieutenant Governor stated that the casino and sports betting sectors have not yet won the lawmakers’ hearts. Texans don’t have an opportunity to play casino games and place sports wagers before 2025 since the Legislature assembles in odd-numbered years. Thus, Texas isn’t likely to change its gaming regulations soon.