Mavericks’ new owners advocate long-term vision amid Texas gambling uncertainty

Industry

Patrick Dumont, the new Dallas Mavericks governor tied to the families with casino interests that acquired the team last year, indicated uncertainty over the timing of legalized gambling in Texas but emphasized a long-term commitment to the community and plans for a new arena.

“We’re patient,” Dumont remarked during his first meeting with reporters on Friday, ahead of Game 4 of the NBA Finals where the Mavericks faced elimination against Boston. “We think long term. We’re not people who think in the short term.”

Dumont, the son-in-law of Miriam Adelson — the widow of Las Vegas Sands Corp. founder Sheldon Adelson — stated that their commitment to Dallas persists regardless of the gambling legislation timeline. The families envision a new arena that might include a casino resort.

Dumont and the Adelson family became the majority owners of the Mavericks after purchasing the team from Mark Cuban for $3.5 billion last December. Although initially occasional visitors at home games, Dumont’s presence increased as the Mavericks advanced to the finals for the first time in 13 years. Cuban, who remains the alternate governor, continues to attend games and maintains a strong influence on basketball operations.

“It’s been unbelievable to be a part of,” Dumont said of the Mavericks’ playoff journey, “but really we’re looking to the future as well.”

NBA Commissioner Adam Silver expressed optimism about the transition, stating that the relationship between the new owners and Cuban is positive. “Patrick appreciates Mark’s ongoing engagement, particularly on the basketball operations side where he’s been very hands-on for many years,” Silver commented.

Despite the family’s casino ties, Dumont noted that casino gaming was not a primary factor in their decision to purchase the Mavericks. He emphasized Dallas’s appeal as a growing economy and a positive environment for business.

However, Dumont acknowledged that Texas presents significant hurdles for legalized gambling. Republican leaders in the state Legislature maintain that it is not a priority for most voters. While recent legislative proposals made some progress, the path to legalizing gambling remains challenging, with the next opportunity for change coming in future legislative sessions before the Mavericks’ lease at the American Airlines Center expires in 2031.

Dumont highlighted the Adelson family’s dedication to developing tourism assets, noting the potential benefits for Dallas as a tourist destination. “If you look at what we do, we’re ground-up developers in scale, and we develop tourism assets for both business and leisure tourism,” Dumont said. “Now, as part of that, we need casino gaming because of the scale of our investments.”

“It’s something we’re thinking about, we’re working on,” Dumont said regarding casino gaming. “We’re spending a lot of time explaining to people what it means in terms of investment, the scale of those investments. Over time, hopefully we’ll be successful.”

Products You May Like

Articles You May Like

Caesars Poker Room to Close (Temporarily)
Singapore Enhances Casino Regulations with New Due Diligence and Weapons Finance Scrutiny
Straight Flush vs. Boat: Brutal Cooler Deep in WSOP Main Event
IGT Boosts Instant Ticket Offering in Spain with ONCE Partnership
Tropicana & Mirage Closure a Boon for Others

Leave a Reply

Your email address will not be published. Required fields are marked *