Mark Cuban has made it no secret he has his eyes on building a casino and resort. With the push to legalize sports betting and casinos in Texas, it’s looking likely the billionaire will get his wish.
The Mavericks currently play at the American Airlines Center, with Cuban looking to move his team to play at the new arena.
Supporters of the Vegas-style resort are highlighting the boost to the local economy with the creation of many jobs and a boost in tourism. Not to mention, the tax windfall expected for Texas if and when it was to legalize sports betting and allow Cuban to build his resort.
State legislators and proponents of the sports betting bill put forward will expect to have an answer as early as November 2023. Across the country, states are allowing online gambling and sports betting to take place. So, it’s expected Texas will eventually follow suit and allow at least online sports betting to take place.
A Texas Gaming Commission has already been suggested by Texas State Senator Carol Alvarado of Houston, in which she filed a resolution for its creation. To allow the commission to put forward up to four licenses for casinos and gambling resorts across the state.
Cuban and the Las Vegas Sands Corporation are expected to partner to create the Mavericks’ new stadium and resort. The partnership is by no accident, the founder of Las Vegas Sands, Sheldon Adelson, was a big contributor to Greg Abbott’s campaign until he passed a couple of years back.
The corporation is now run by his wife who continues to donate to Abbott and his party. Cuban likely knows this will be his best chance to make his dream resort a reality, as the Sands foundation will have the best chance to be licensed. Also, benefiting from any legislation that’s passed in the state.
Texas bettors can already gamble online with many sports betting apps available in the state. A fact the Texas Sports Betting Alliance (a group made up of businesses, politicians, and sports teams who want to see sports betting legalized in the state) regularly points out.
Over $500 million in Taxes is expected to be brought in if online sports betting in Texas were to be allowed. The number doesn’t include land-based gambling operations like bitcoin casino sites and Vegas-style resorts.
With the amount of money the state is losing out, the pressure from groups like the Sports Betting Alliance, nearby states legalizing sports betting, and growing support from residents to allow them to bet online on their favorite teams, it seems the writing is on the wall. Cuban will eventually get his resort and sports betting in Texas will be legalized.