The owner of the Dallas Mavericks and ABC’s Shark Tank, Mark Cuban, has once again proven his unwavering support for the legalization of casino gambling by expressing his desire for lawmakers to consider legalizing resort-style gambling in the state.

Earlier this year, in May, the billionaire who is known for being one of the Lone Star State’s most prominent long-time casino proponents said the introduction of casinos would turn it into an excellent destination for tourists while significantly boosting its economic profile.

In December 2022, Cuban also expressed his ambitious plans to turn the Dallas Mavericks Arena into a Vegas-style destination by changing its current American Airlines Center headquarters to a much larger and more appealing venue.

“Resort Gaming Would Have a Huge Impact” on Tourism

Over the years, the Shark Tank investor who has committed to the 16th season of the iconic show, has been striving to bring some important changes to the way Texas is perceived by tourists. 

Namely, Cuban argued that when someone is thinking of all the places they would like to save up for an upcoming vacation, “Texas isn’t one of them”. 

He added that the state does not represent a genuine travel destination that someone would be willing to pay for, an issue that could find a quick fix with the help of resort gaming. In his opinion, this would draw in more people due to the fresh amenities and the potentially Vegas-style atmosphere.

In 2022, the businessman who is also a film producer and investor with a net worth estimated at over $5.1 billion, spoke about his vision to partner with Las Vegas Sands and build a new arena for the National Baseball Association team “in the middle of a resort and casino”.

Hope for a Brighter Future 

In spite of the Texas House shutting down the legislation that would have given the green light for casino resorts as envisioned by him, Cuban has not lost all hope for the future. 

This April, he invested $18.5 million into the American Airlines Center for the purchase of new seats and video boards. The center, which Cuban called “a great sports town” for sports aficionados, represents the Dallas area’s Premier Sports and Entertainment arena. 

The center is also home to the National Hockey League’s Dallas Stars and NBA’s Dallas Mavericks.

For the time being, Cuban will remain focused on the growth of his company, Cost Plus Drugs, which focuses on disrupting big pharma. Earlier this week, he held a speech in front of hundreds of business owners at Chase’s Make Your Move Summit in Frisco, where he strongly encouraged entrepreneurship while he explained his path to success.

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According to Mark Cuban, one of the most prominent Shark Tank personalities and a billionaire, the arrival of integrated casino resorts in Texas would have a significant impact on the state’s tourism profile and significantly boost the state’s economic profile.

Making Texas a Tourism-Worthy Destination

Many companies have already shown interest in bringing their operations to bear in the state, including Las Vegas Sands, which has been lobbying to convince legislators of the validity of why bringing a casino resort would make a lot of sense.

Cuban, though, sees in the arrival of potential casino resorts the opportunity to transform the leisure travel and hospitality industries in the state, and give them a significant boost. Cuban spoke to The Dallas Morning News, a prominent media outlet, and spoke about what he saw as a major problem.

He argued that many people in Texas now had to save up for a trip to go to another state and try the experiences that a casino resort could bring right in their backyard. He acknowledged that fears about potential societal ills stemming from gambling were not to be overlooked and called it “a hook.”

However, he remains confident that there is actual value in turning Texas into one of those destination states where people from all over the country would be willing to save up for to visit and enjoy many of its facilities.

Legislative Efforts Coming Short of Supermajority

To get there, though, the state would need the right legislative framework in place. Efforts to push a form of commercial casino gambling and see Texas join one of the dozens of states in the United States that offer this service seem to be dead this legislative session with a bill backed by Rep. Charlie Geren falling through and dashing those hopes.

Geren’s House Joint Resolution managed to secure 92 votes in support of moving forward with the matter, but it fell short of the required 100-vote threshold to make it happen. Cuban has expressed his disappointment and said that the state needs to do more so that Texas can truly become a tourism beacon and attract more visitors.

Joint Resolution 155 did demonstrate changing attitudes towards commercial gambling in the state in general, proving that there is significant interest in the addition of casino resort gambling. The rub is that in order to pass any such changes, the state would need to still alter its constitution which requires a super majority and hence why Joint Resolution 155 missed the mark.

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