DALLAS — Las Vegas casino magnate Miriam Adelson's purchase of the Dallas Mavericks, announced last week, left fans wondering one big question: Why?
The Mavs' longtime owner, Mark Cuban, has been the face of the franchise for more than two decades. And while he'll remain involved in the organization, his sale of a majority stake in the team was a surprise.
Cuban himself told us the sale will put the Mavs "in a better position to compete," with concerns over traditional media revenue looming. Cuban said a new arena and "hopefully a future resort casino," by partnering with Adelson's Las Vegas Sands Corp., could make up some of those potential revenue dips in the future.
While Texas lawmakers would need to legalize gambling - and approve casino resorts - to make Cuban's dream a reality, another question floated over the last week has been where, exactly, would a new Mavs arena and casino be located?
D Magazine on Friday dug up some interesting details on that front.
Property records indicate that Adelson's casino company, Las Vegas Sands Corp., purchased around 100 acres of land near the old Texas Stadium site in Irving. The land is located at 2615 Spur 482, which is just northeast of the since-demolished home of the Dallas Cowboys.
Dallas Central Appraisal District records show the property switched hands in July, listing the new owner as Village Walk RE 2 LLC. The property went for $22.4 million.
State tax records show that Village Walk RE 2's mailing address is 5420 S. Durango Dr. in Las Vegas, which is also the mailing address for the Las Vegas Sands Corp, according to public data records.
What does it all mean?
It's hard to say, for sure.
There's no confirmed connection between the Las Vegas Sands' apparent land purchase, and the purchase of the Mavericks. And there's been zero confirmation on where the Mavericks, who play at the American Airlines Center near downtown Dallas, would want to build a new arena or casino resort down the line.
WFAA reached out to the Sands for comment but haven't heard back. WFAA asked Cuban, too, and he said he didn't know what the Sands had purchased in the past.
Regardless of the Mavericks' hopes for a casino resort, it wouldn't happen until Texas passes legislation to legalize gambling and/or casino resorts.
Fort Worth state Rep. Charlie Geren, a Republican, filed a bill this year that would have given Texas voters the choice to decide on several elements, including sports betting and expanding casino gaming to a limited number of "destination resorts." But the bill was never approved.
Cuban told WFAA last week that he still thinks Texas will eventually pass resort casinos.
"I think if resort casinos pass, Dallas becomes a top five travel destination in the country," Cuban said. "Which is why I think, at some point, it will."
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