July 21, 2024

Political Commentary

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NBA Dallas Mavericks co-owner looks to bring gambling to Texas

2 min read

As Game 3 of the NBA Finals tipped off at the American Airlines Center on Wednesday, Patrick Dumont, the new co-owner of the Dallas Mavericks, sat courtside amid a pantheon of Texas athletic elite.

To his right: former NBA stars Dirk Nowitzki and Steve Nash, and three-time Super Bowl champion Emmitt Smith. Nearby, Kansas City Chiefs quarterback Patrick Mahomes, who played high school and college football in Texas, was also cheering.

Dumont, the president of gambling giant Las Vegas Sands Corp. — and son-in-law of billionaire Miriam Adelson — bought a majority stake in the Mavs with his family late last year from Mark Cuban. The deal valued the franchise at $3.5 billion. Since then, he’s been a regular at the games and is warmly acclimating to his new home away from home. 

“I don’t think there are many cities in America where you can show up and everyone’s just warm and embracing,” Dumont said at the team’s practice facility ahead of Game 4 against the Boston Celtics, who have dominated the series and pushed Dallas to the brink of elimination. The Mavs ended up winning, 122-84, though no NBA team has ever come back from a 0-3 playoff deficit. “There’s a lot of pride about being a Texan, and it’s just a lot of fun to be part of.” 

The purchase of the Mavs punctuated the family’s effort to deepen its ties in the state, including Sands’ desire to build casino resorts that will draw dollars and jobs to Texas. But in a state that has resisted efforts for gambling for years, Dumont said he and his family are ready to play the long game.

“We really want to be in the state of Texas,” the 49-year-old said, referring to LVS and casino gambling. “We think this is a great investment opportunity and we’re here for the long term. We’re going to keep talking about the virtues of what this means for the state of Texas and how it can benefit the communities that these resorts will be located in.”

In the meantime, the…

Matthew Miller, Julie Fine, Bloomberg

2024-06-15 18:27:29

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