The recent purchase of a majority stake in Mark Cuban’s Dallas Mavericks by Las Vegas Sands Corp. (LVS) controlling shareholder Miriam Adelson took the sports world by surprise.
But D Magazine recently uncovered another surprise: LVS has purchased a 100-acre tract near the now-demolished Texas Stadium site in Irving, the former home of the Dallas Cowboys.
According to Dallas Central Appraisal District records, the property was sold in July for $22.4 million. The mailing address of the new owner, Village Walk RE 2 LLC, is 5420 S. Durango Drive in Las Vegas—also the mailing address for LVS, according to state tax records.
Cuban has said he envisions a new arena and “hopefully a future resort casino,” partnered with LVS. Observers speculate the acreage could be the site of that new arena, although no connection has been confirmed between LVS’ purchases of the team and the land.
For a casino resort to become a reality, Texas lawmakers would have to legalize casino gambling. A bill filed this year by Republican state Rep. Charlie Geren of Fort Worth would have allowed Texans to vote on sports betting and expanded casino gambling, but the bill stalled.
Cuban told WFAA-TV in Dallas he believes resort casinos eventually will be legalized. He said, “I think if resort casinos pass, Dallas becomes a top five travel destination in the country. Which is why I think, at some point, it will.”
Cuban, the face of the Mavericks for more than two decades, said he’ll remain involved in the organization. He added the sale will put the Mavs “in a better position to compete.”
