Mark Cuban, the principal owner of the Dallas Mavericks (NBA), wants to bring Las Vegas-style casino resorts to Texas.
Speaking with the Dallas Morning News, Cuban’s comments center around bringing a new type of tourism to the Lone Star State.
“For anyone who lives outside of Texas, what’s the one place they plan to visit in Texas?,” Cuban said.
Although Texas has several historical landmarks like The Alamo in San Antonio and Big Bend National Park, Cuban points out that in addition to Texas gambling, the state is missing destination resorts.
The expansion of Texas gambling is key
Cuban’s vision for bringing a casino resort to the Dallas area aligns with legislation filed by Sen. Carol Alvarado.
Alvarado is the author of Senate Joint Resolution 17 (SJR 17), a constitutional amendment to legalize casino gambling in the state.
Cuban’s ideals are also on par with a recent survey asking Texas residents if they would support the expansion of gambling in Texas. Results showed that roughly 63% of people surveyed favored casino-style gambling.
“There’s a reason why Vegas is Vegas. And it’s not just gambling. There’s gambling in a lot of places,” Cuban said.
“It’s the fact there’s resorts for families, for bachelorette and bachelor parties, for conventions. If you create a new arena, whether it’s for us, for us and the Stars or whatever it may be, and you make that a centerpiece? How cool would that be?”
There is still a long way to go
Texas lawmakers are only in session during odd-numbered years. Thus, if Alvarado’s bill makes it through both chambers, it would be voted on in November 2023. As a result, the earliest any type of destination resort in Dallas could materialize would be in 2024.
However, Cuban is already getting his ducks in a row. If the stars align, Cuban plans to partner with the Sands Corporation on a new casino in the Dallas area.
Sands has been lobbying Texas lawmakers for a few years now. The company also created the Vegas Sands PAC that has donated millions of dollars to Texas politicians.
A significant partner like Sands will come in handy if the legislation passes. Such a relationship is crucial because according to Alvarado’s proposal, a destination resort located in a metropolitan area with roughly five million people would require an initial land and/or capital investment of $2 billion.
Cuban hasn’t offered any specifics on where a new casino would be built but his clout looms large in the Dallas area. That makes his involvement something to monitor.