Mark Cuban and the Sands Corp. want to make sure that if sports gambling and/or casino gambling is made legal in Texas, they’ll be ready.
A company formed by the Sands Corp purchased more than 200 acres of property near Irving, Texas that is valued at more than $36 million, Front Office Sports reported.
That property is near Texas Stadium, the old home of the Dallas Cowboys.
This comes days after the Sands Corp. and Cuban finalized a deal for Sands to take a majority interest in the Dallas Mavericks and with it the land where the team’s practice facility is located. The Sands Corp.’s majority stake in the Dallas Mavericks is valued at a $3.5 billion.
The company is reportedly looking for more property to purchase around the Dallas area.
NBA franchise valuations by Forbes said the Mavericks are worth $4.5 billion, the seventh-most valuable team in the league.
Cuban purchased the team for $285 million in 2000.
Related: NBA world reacts to Mark Cuban selling interest in Dallas Mavericks
Sports gambling, casino gambling a long shot to pass in Texas
Part of the reason for the deal Cuban made with the Sands Corp. is to be in a position to build a casino and new basketball arena for the Mavericks, going on the assumption that gambling will be legalized in Texas.
But there have been no signs that will happen. The Texas legislature meets every two years with the next session scheduled for 2025.
In the last session, sports gambling and casino gambling got little to no support, despite lobbying efforts by gaming companies, including the Sands Corp.
Mattress Mack, a Houston furniture store owner who famously places large bets on Texas teams in big events and has been driving across the state line into Louisiana to make those bets, said in a recent interview “There won’t be legal sports betting or gambling in Texas in my lifetime.”
That doubt worried some Mavericks fans that Sands and Cuban might be considering moving the team to Las Vegas, where the Sands Corp. headquarters is located. Both have denied that is on the table.
There could be an NBA team in Las Vegas some day, it likely won’t be the Mavericks but an expansion team.