Dallas Mavericks owner Mark Cuban, a longtime proponent of sports betting, has bigger dreams for gambling in Texas. In 2022, Cuban publicly floated an idea of partnering with the Las Vegas Sands organization to build a casino resort in the Dallas area that included a sports arena.
On Wednesday, the Adelson and Dumont families, who own Las Vegas Sands, confirmed they're in a binding purchase agreement to acquire a majority ownership stake in the Mavericks, putting Cuban in direct partnership with the casino empire. In the deal, Cuban will retain control of basketball operations.
The parties hope to receive approval from the NBA board of governors and finalize the deal by the end of 2023, according to a statement released Wednesday by Sands.