Texas Sports Betting & Casino Legalization: A 2025 Outlook

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00:00As far as legalized sports betting, this year is going to come and go essentially with very

00:07little activity in the United States with new states getting legalized sports betting.

00:12One state looking for a potential legalization next year, or at least having this pass through,

00:18would be the state of Texas.

00:20We know, Mike, that from the sports franchises there's been a ton of support for this, but

00:26from the legislature not as much.

00:27Where do things stand?

00:28Yeah, Craig, so I talked to the STARS president recently who said at best this is 50-50 heading

00:35into 2025.

00:36You know the legislative framework in Texas, it's very conservative, very Republican-led.

00:43At the Senate level, Lieutenant Governor Dan Patrick has continually been anti-gambling,

00:47so it doesn't look like anything might happen there.

00:50Perhaps if Trump wins and Patrick goes into his cabinet, one source said maybe that's

00:54the best way for this to happen, but seems like a long shot.

00:57On the casino front, we know Texas wants casinos as well.

01:00Dallas Morning News recently had a story that said that's also a long shot.

01:03Aristocrat notably, one of the slot machine providers, they had a deal with the NFL to

01:09have all sorts of different team slot machines.

01:12They partnered with the Dallas Cowboys now for their signage to be in the AT&T Stadium,

01:17the Cowboys' home.

01:20Perhaps they have ambitions in Texas, but they aren't saying.

01:23They have two casino partnerships in Oklahoma.

01:26Oklahoma, obviously, near Dallas.

01:28Texas sports betting is illegal.

01:29The only place you can go to a casino, if you live in that area, is Louisiana.

01:33You can go to Oklahoma.

01:35That seems to be what that partnership is for now, but certainly with Las Vegas Sands,

01:39that group getting involved in majority ownership of the Dallas Mavericks from Mark Cuban, Cuban

01:43talking about his casino ambitions to build a casino resort next to the Dallas Mavericks,

01:48next to Arena.

01:50He's not governor anymore, so we'll see where that goes with the Dumont and the Adelson

01:52family.

01:53There are ambitions in Texas from some people, perhaps Las Vegas Sands making some inroads,

01:58doing something where they're not the outsider anymore.

02:00They are a Texas-based company, and they own the Mavericks.

02:04A lot of moving balls in Texas.

02:08Looks like a long shot, but we'll see, obviously, long term.

02:10There's a lot of stakeholders there that have financial interest in that state moving not

02:16only sports betting, but also casino as well.

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