Details on Dallas Mavs' Future at American Airlines Center Following Mark Cuban Majority Stake Sale
On Tuesday, Mark Cuban shocked the sports world by selling a majority stake in the Dallas Mavericks to casino tycoon Miriam Adelson. Adelson acquired the stake of the Mavs from Cuban for $3.5 billion a day after selling a $2 billion portion of her share in her family owned casino, Las Vegas Sands.
For Cuban to sell even a sliver of the Mavericks, one has to think there has to be a bigger play at hand, which is why Adelson and her $33 billion net worth being a part of the deal means so much.
With the Adelson family being a powerhouse in the casino industry, along with her longstanding support and relationship with Texas Governor Greg Abbott, Cuban's hopes to legalizing gambling in Texas could be on the right track for the years to come.
Mavericks legend Dirk Nowitzki receives statue in front of American Airlines Center.
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Cuban, on several occasions, has expressed his intent to build a new arena in Dallas, meaning the Mavs' days at American Airlines Center could be numbered. The Mavs' lease with AAC is under contract until 2031, meaning that Adelson, Cuban, and company essentially have seven years to work on getting gambling legalized in Texas.
The legalization of gambling would present the opportunity for Adelson to build a casino in the DFW metroplex, which Cuban has spoken about freely.
"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 last December. "That’s the mission."
As you can see from Cuban's mention of Las Vegas Sands over a year ago, this move has been in the works for some time now, although he probably didn't intend on the news leaking as early as it did.
At this point, it seems to be a matter of when, not if, gambling is legalized in Texas, which will soon to be followed up by Cuban and company breaking ground on his dream of a casino district accompanied by a new Mavs arena.
