The family that runs the Las Vegas Sands casino has agreed to purchase most of the NBA team Dallas Mavericks from billionaire entrepreneur Mark Cuban.
Cuban will continue to influence basketball operations under the contract terms, which the Associated Press estimates are worth $3.5 billion. Cuban has shown interest in a Dallas-based stadium and casino. The professional sports and gambling industries would become even more intertwined with this move, but there is a catch.
According to Victor Matheson of the College of the Holy Cross, the professional sports industry has altered its tune about betting and gambling.
Opening of Dallas's New Arena and Casino
Now that the Supreme Court has reversed the statewide ban, dozens of states have allowed betting and professional sports teams are pressing for it. In terms of major dissenters, Texas ranks high.
According to Victor Matheson, the average annual stake in places where sports betting is permitted is around $1,000.
According to Smith College's Andrew Zimbalist, Mark Cuban may be able to go forward with plans for a new Mavericks stadium if this sale goes through.
According to basketball news reports, the state will welcome Tilman Fertitta, owner of the Houston Rockets and a casino owner, and Miriam Adelson, owner of the Las Vegas Sands. Fertitta also advocates sports betting in Texas.
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