Mark Cuban Aiming to Build Vegas-Style Resort and Complex in Dallas

Mark Cuban wants to build a Vegas-style casino and resort complex in the heart of Dallas. He wants the Dallas Mavericks to leave the American Airlines Center when their 30-year lease on the arena expires in July 2031. Cuban's plan is likely to add momentum to a proposed constitutional amendment that would see Texans vote next November on whether to legalize gaming and online sports betting sites in Texas. Senator Carol Alvarado's bill calls for the creation of a Texas Gaming Commission that could issue up to four betting licenses for retail resorts in major state urban centers.

Mark Cuban wants to build a Jerry Jones-style resort and complex in Dallas. The project is connected to the Sands Corporation, which is planning to sell its Las Vegas Strip assets for $6.25 billion. Sheldon Adelson, the founder of the company, tried to legalize gaming in Texas in 2020, but the bill died in the committee phase. The new bill will be passed in biannual legislative session. It will generate huge revenue for the state and tourist travel. Cuban is hoping to follow in Adelon's footsteps. He is also hoping that the new law will spur tourist tourism to Texas.

The Sports Betting Alliance (SBA) was founded in 2021 with the objective to promote legal sports betting in Texas. SBA is an organization led by DraftKings, FanDuel, BetMGM and Barstool Sportsbook. It comprises almost every major professional sports franchise in the state, including the Mark Cuban-owned Dallas Mavericks, the San Antonio Spurs and the Houston Rockets.

Rick Perry is the former governor of Texas. He is pushing for sports betting legislation. The state Sen. Alvarado filed a gaming resolution. Rick Perry has been hired as the SBA's media point man. An Eilers & Krejci Gaming study estimated that revenues from illegal sports gambling in Texas came to $5.0 billion in 2021 and are projected to reach $8.7 billion by 2022.