• Loading stock data...
Tuesday, October 21, 2025

Blockbuster Mavs-Cuban Deal Puts Dallas Casino Complex In Spotlight

  • Deal valuing NBA team at about $3.5 billion premised on arena-casino development.
  • Gambling legalization in Texas has failed to progress, but hopes of passage in 2025 are higher.
Dallas Mavericks owner Mark Cuban celebrates court side behind Luka Doncic
Jerome Miron-USA TODAY Sports

Mark Cuban’s landmark deal to sell a majority stake in the Dallas Mavericks to Miriam Adelson has what is perhaps an even bigger underlying vision: the development of a new arena and casino complex in Dallas. 

The agreement, valuing the Mavericks at about $3.5 billion, will see the serial entrepreneur and outgoing “Shark Tank” star transfer majority control of the NBA team to Adelson — the casino billionaire widow of Las Vegas Sands Corp. founder Sheldon Adelson — while Cuban retains oversight of the team’s basketball operations. A closing is projected by the end of the year, subject to league approvals.

But the agreement is also premised on jumpstarting a long-discussed plan to construct a successor to American Airlines Center, the 22-year-old arena the Mavericks share with the NHL’s Dallas Stars.

“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. That’s the mission,” Cuban said in December 2022.

Nearly a year later, Cuban reconfirmed his intent, telling KXAS-TV’s Newy Scruggs that Adelson and Sands are “coming in to … build a new arena, which will hopefully be a Venetian-like resort here in Dallas. That’s the goal.”

Opportunities And Obstacles

Texas is a highly coveted locale for casino and sports betting operators, boasting a population of over 30 million that ranks second only to California among American states. Major cities such as Dallas, Houston, Austin, and San Antonio additionally present the opportunity to build gambling destinations in large, vibrant markets.

But legislators in the Lone Star State have consistently resisted both sports betting and casinos. This past spring, the Texas Senate declined to consider casino and sports betting measures.

Nevertheless, the issue of legalized gambling is expected to be picked back up in 2025 — Texas lawmakers meet in alternating years — with increased hopes of passage.

Cuban, meanwhile, has downplayed speculation that he will now campaign for U.S. president with his status in the Mavericks changing, telling NBC News he has “no plans” to run for office.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

The NBA’s $77B Future Starts Tonight 

Seven 2025 NBA All-Stars will miss the start of the season.
Keegan Murray

$20 Million Per Year Becoming New Baseline for NBA Role Players

Christian Braun signed a five-year deal worth $125 million.

TNT Sports Parent WBD Is for Sale As Comcast, Netflix, Paramount Circle

The TNT Sports parent said it has received interest from “multiple parties.”

Featured Today

Christie's

Lou Gehrig’s $4M Jersey and the Exploding Sports Memorabilia Market

An ultra-rare sports collection is about to hit the auction block.
@chef__tezz/Instagram
October 19, 2025

Inside the NFL’s Private Chef Network

Private chefs are the unsung architects of player performance.
October 18, 2025

How Vanderbilt Went From SEC Doormat to Dark Horse CFP Candidate

After beating LSU, Clark Lea said: “Internally, we expect to win.”
May 27, 2025; Indianapolis, Indiana, USA; Indiana Pacers guard T.J. McConnell (9) shoots a three point basket over New York Knicks guard Josh Hart (3) during the third quarter of game four of the eastern conference finals for the 2025 NBA Playoffs at Gainbridge Fieldhouse
October 18, 2025

NBA Stars Swap Wine With League Friends and Foes

A wine-exchange tradition emerged from the bubble season’s close quarters.

Financial Behemoth Dodgers Win NL Pennant, Eye History

The biggest spenders would be MLB’s first repeat champion in 25 years.
Jun 15, 2025; Montreal, Quebec, Canada; Mercedes driver George Russell (63) and Mercedes driver Kimi Antonelli (12) celebrate their first and third place at the F1 Canadian Grand Prix at Circuit Gilles-Villeneuve.
October 15, 2025

Mercedes F1 Team Rides With Russell, Antonelli Despite Verstappen Link

Russell took the Formula One seat at Mercedes in 2021.
October 16, 2025

For Yankees, It May Be ‘Business As Usual,’ but Title Drought Lingers

GM Brian Cashman says a salary cap is not at the forefront of his mind.
Sponsored

Michelle Wie West: Women’s Sports Doesn’t Need Charity

The LPGA legend on redefining women’s sports and the future of golf.
October 13, 2025

RAJ Sports Withdraws Lawsuit Over Trail Blazers Stake

RAJ Sports had sued the Cherng family, owner of Panda Express.
October 13, 2025

Titans Turnover: Brian Callahan Firing Adds to Pattern of Instability

Tennessee fired coach Brian Callahan six games into his second season.
Cleveland Browns quarterback Dillon Gabriel (5) throws as quarterback Shedeur Sanders (12) looks on during rookie minicamp May 9, 2025, in Berea.
October 9, 2025

Browns Paying $41.6M to 8 QBs, but Only 2 Are on Their..

Cleveland traded Joe Flacco to the Bengals this week.
October 9, 2025

The Yankees’ $319M Roster Flopped. Now Comes the Hard Part: 2026

The MLB club’s current contracts limit its flexibility somewhat for next year.