Las Vegas Sands has increased the intensity of its pursuit for legalised igaming in the state of Texas.
The group, which completed a deal to become a significant stakeholder in the Dallas Mavericks last year, is set to submit a petition in the region for the legalisation of online casino gaming.
Las Vegas Sands, alongside a myriad of some of the industry’s other key players, has long been advocating for the expansion of casino regulations in the state, with this latest move following up the formation of the Texas Sands Political Action Committee, a lucrative effort that sought to grow the chances of a gambling framework in the region.
Tilman Fertitta, who owns Golden Nugget, has also been vocal in backing the bid for Texas to embrace the casino sector and the benefits it can bring.
In a recent comment to Bloomberg, Fertitta stated that the casino sector can have a profound impact on bringing tourism to the region – specifically with the venues that will be built as a result of any new sector entering the space.
The Golden Nugget owner stated: “We need to do it right and build the casinos, and not have a bunch of slot machines at every single little grocery store.”
Momentum around the potential for a bill to legislate casinos in Texas has built momentum – bolstered by the backing of the Abelson family after their acquisition of the Mavericks.
When Mark Cuban initially purchased the Mavericks in 2000 he did so for around $285m, the Abelson’s acquisition at the end of last year underlined the significant rise in valuation of the sports team, with the family reportedly set to pay around $3.5bn for the franchise.
The push for legislation from the Abelson family is also elevated by surrounding markets benefiting from a burgeoning casino industry.
Nonetheless, as much as support has grown for the bill, limited backing from governmental officials in Texas.
