Why Dallas? Las Vegas Sands casino moguls make a play for the NBA – and Texas
Publishing timestamp: 2023-11-29 15:55:57
Summary
Miriam Adelson and her family, owners of Las Vegas Sands, are buying a majority stake in the NBA's Dallas Mavericks from Mark Cuban. This move surprised many as Las Vegas is the headquarters of the Adelsons' empire, even though they no longer have casino resorts in the city. The Adelsons have been pushing for the legalization of gambling in Texas and have already invested millions in political contributions and lobbying efforts in the state. By owning the Mavericks, they hope to strengthen their ties to Texas and potentially gain support for a casino license. The article also mentions the potential for an NBA team in Las Vegas, which could have a price tag of $6 billion to $7 billion.
Sentiment: NEUTRAL
Tickers: LVS,
Keywords: nba basketball, business news, business, mark cuban, gambling, dallas, las vegas sands corp, sheldon adelson, basketball, sports,
Source: https://www.cnbc.com/2023/11/29/why-dallas-miriam-adelson-las-vegas-sands-texas-mark-cuban.html