Shark Tank star and Dallas Mavericks owner Mark Cuban is interested in opening a casino resort with an NBA arena for the team. Currently, casinos are not legal in Texas.
According to Casino.org, Cuban pitched the idea for a multibillion-dollar integrated casino resort with space for a new Mavericks arena.
The Las Vegas Sands, which operates integrated resorts in China’s Macau and Singapore, sold off its domestic interests, and in 2018, unloaded its Pennsylvania casino for $1.3 billion. According to Casino.org, the company also sold off its Venetian and Palazzo resorts on the Las Vegas Strip for $6.25 billion just two months after the Sands founder Sheldon Adelson’s death in Jan. 2021.
Now that the company has a great deal of money, they have its eye on Texas for the next big casino. Cuban, also packed with cash, showed interest in partnering with the company to make the Texas goal a reality.
“My goal, and we’d partner with Las Vegas Sands, is when we build a new arena, it’ll be in the middle of a resort and casino,” Cuban told The Dallas Morning News. “That’s the mission.”
Cuban’s idea for the resort would be a full gambling center with slots and tables. The resort would be a one-stop shop for all. The plan for the resort would be for guests to spend time in the resort while being in the same area to attend basketball games.
“Destination resort casinos, that’s billions of dollars to the state,” Cuban said.
But under Texas law, casinos and other gambling facilities are illegal. The Texas Legislature saw more of an interest in changing the law to support casinos, which would bring a great deal of funds to the state.
Texas state Senator Carol Alvarado, (D-Houston) hopes to continue the controversial gambling discussion in 2023. Alvarado confirmed that she will introduce legislation next year to legalize casino gaming and sports betting.
Despite legal challenges, Cuban’s hope for Texas is to create a destination where people in and out of Texas want to spend their time and money.
“For anyone who lives outside of Texas, what is the one place that they plan a vacation to visit in Texas? There is none,” Cuban said. “There’s no destination resort in Texas where, if you’re living in Pittsburgh or Indiana or Chicago, you say, ‘Hey, honey, we’re saving money to take the family to Texas.’”