Mark Cuban may have sold the majority interest in his NBA team the Dallas Mavericks to Miriam Adelson, but he is still very much invested personally with the success of the team and how the Mavericks can help improve and promote the city of Dallas. Mark Cuban discussed how the team can make Dallas a “destination city” in an interview with People Magazine, including adding a gambling casino.
Apparently, Dallas, Texas is not considered a tourist destination today, he said. This is probably true since when people think of the city they tend to think only of its sports teams like the NFL’s Dallas Cowboys and the TV show from the 1970s by that name. But some of the other parts of the state, like San Antonio, home of the Alamo, due attract tourists.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at [email protected].
Thank you.
“We’re [Dallas] not really a tourism destination at this point,” said Mark Cuban in the interview. “And so I think casino resort gaming would turn Dallas and whatever locations replicated in Texas into probably one of the top three tourist destinations in the country. And so I think it makes sense to happen.”
In the U.S. today casinos are popping up everywhere as cities and states decide that legalizing gambling will bring in a great deal of revenue. And since a Supreme Court ruling a few years ago that struck down a federal law that prohibited sports gambling between states, state governments rushed to legalize it and sports gambling apps now abound.
“Just imagine a Venetian [casino] next to the convention center in Dallas, that would change everything,” Cuban told People Magazine about the possibility of bringing gambling to Texas. “And imagine how, if you think about your friends from outside of Texas, there’s not really that one thing that they say, ‘You know what? I’m saving up my money to come to Dallas for A, B or C.’”
Las Vegas opened a new football stadium a few years ago which hosted this year’s Super Bowl. And that stadium is right near the big Las Vegas resort/casinos like the Venetian.
“I’m good at technology, I’m good at media, I’m good at sales,” Mark Cuban told People Magazine. “Sometimes I’m good at basketball, but what I’m not good at is building arenas or building resort entertainment destinations. That’s kind of the future, big revenue streams for professional sports.”
Miriam Adelson, the widow of the late casino magnate Sheldon Adelson, bought a majority of the team for an amount that gave the NBA franchise a $3.5 billion valuation. Miriam Adelson revealed that she was cashing out $2 billion in stock from her family’s Las Vegas Sands company to make an unspecified acquisition, which turned out to be the Mavericks.
Marc Cuban, however, retained a 27% stake in the Dallas Mavericks.
Mark Cuban is an American entrepreneur, investor, and television personality. He is best known for being the owner of the Dallas Mavericks, a basketball team in the National Basketball Association (NBA). He is also a co-star on the popular TV show Shark Tank, where he invests in promising startups.
In addition to his business ventures, Mark Cuban Cuban is also a philanthropist and political commentator. He has donated millions of dollars to various charities and has been outspoken on a number of issues, including healthcare and education.
