Nearly a month has passed since the NBA approved the sale of the Dallas Mavericks to the Adelson and Dumont families in a move that may bolster the chances of casino legalization in Texas.
The jaw-dropping purchase that conferred the majority stake of the Mavs to Dr. Miriam Adelson and Patrick Dumont could result in the completion of a large casino-resort in the Dallas-Fort Worth area. Adelson, the widow of late Las Vegas Sands (LVS) mogul Sheldon Adelson, and Dumont gained a controlling interest in the Mavericks in a transaction that valued the franchise at approximately $3.5 billion. Former Mavs owner and personality Mark Cuban retained control of basketball operations in the deal.
Dumont, the son-in-law of Sheldon Adelson, serves as president and chief operating officer of Las Vegas Sands. Earlier this week, in his first public comments since the Mavericks’ purchase, Dumont expressed bullishness on the prospects of building an integrated Texas resort.
“We think it’s an unbelievable market. Over time, we hope that it happens,” said Dumont on Sands’ 2023 fourth-quarter earnings call. “In terms of the family’s activities in Texas, we like the state. We’re very happy with our investment there and we’ll look to be a part of the business community there.”