The Dallas Mavericks will now be controlled by the Adelson and Dumont families instead of Mark Cuban after receiving authorization from the NBA Board of Governors. Dr. Miriam Adelson, widow of casino tycoon Sheldon Adelson, plays a role in this transaction.
The Mavericks’ governor, Patrick Dumont, who is the President and COO of Las Vegas Sands, will take the helm as the deal is expected to close this week. This approval occurs less than a month after the Adelson family—Miriam Adelson, Sivan, and Patrick Dumont—joined forces to declare their intention to buy the club. This purchase is believed to be worth $3.5 billion. As the Mavericks’ governor, Patrick Dumont, a significant figure in Las Vegas Sands and Miriam Adelson’s son-in-law, is expected to lead the team.
There are no signs that the team from Dallas will be moving. Cuban, the former owner, plans to continue having authority over basketball-related matters. Cuban had previously expressed interest in working with Las Vegas Sands on a more ambitious vision, suggesting the construction of an arena in downtown Dallas that would include hotel and casino facilities.
Nevertheless, this goal is hampered by Texas’s legalization of gambling. Despite the backing of Miriam Adelson, who actively pushed casino legalization through political donations and lobbying, efforts to authorize gaming in the state face resistance.
Recently, Las Vegas Sands’ initiatives toward corporate responsibility and sustainability were acknowledged on the Dow Jones Sustainability Indices.
