{"id":305503,"date":"2024-01-03T17:11:05","date_gmt":"2024-01-03T23:11:05","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=305503"},"modified":"2024-01-04T09:57:58","modified_gmt":"2024-01-04T15:57:58","slug":"adelson-dumont-families-gain-control-of-key-dallas-real-estate","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/adelson-dumont-families-gain-control-of-key-dallas-real-estate\/","title":{"rendered":"Adelson, Dumont Families Acquire Marquee Dallas Real Estate"},"content":{"rendered":"

By way of their majority acquisition of the Dallas Mavericks, the Adelson and Dumont families took the deed to some pivotal real estate in the Dallas area.<\/p>\n

\"Forbes
Dr. Miriam Adelson in 2009 with her late husband, Las Vegas Sands founder Sheldon Adelson. She’s now the owner of some key Dallas real estate. (Image: Getty)<\/figcaption><\/figure>\n

As part of the transaction that saw the families with ties to Las Vegas Sands (NYSE: LVS) acquire about 70% of the NBA franchise from now-minority owner Mark Cuban, ownership of more than a dozen acres in the Dallas Design District changed hands. Located near downtown Dallas, the land includes the Mavericks\u2019 practice facility.<\/p>\n

It\u2019s rumored that Cuban had previously hoped to use that acreage for a new arena for the team. For tax purposes, the land is valued at $42.9 million, according to county records.<\/strong><\/p>\n

Last week, the NBA approved the sale<\/a> of a majority interest in the Mavericks to the families of Dr. Miriam Adelson, and Sivan and Patrick Dumont. Adelson is the widow of Sands founder Sheldon Adelson while Patrick Dumont is her son-in-law and chief financial officer (CFO) of the largest publicly traded gaming company.<\/p>\n

Adelsons, Dumonts Know Real Estate<\/h2>\n

In an interview following the NBA’s approval, Cuban acknowledged that real estate isn\u2019t one of his core competencies and that the Adelsons and Dumonts are more well-versed in that business than he is. Dumont is now the Mavericks\u2019 representative to the NBA Board of Governors, but Cuban maintains control of basketball operations.<\/p>\n

\n

There\u2019s something to that claim. With Sheldon Adelson at the helm of Las Vegas Sands and Dumont occupying high-ranking roles, the gaming company retained control of all its property holdings. As such, it was able to wring significant benefits when it sold domestic assets such as a regional casino in Pennsylvania and its Las Vegas Strip holdings.<\/p>\n<\/div>\n

When Sands sold the Venetian Resort and Sands Expo and Convention Center in early 2021 for $6.25 billion, $4 billion of that price was absorbed by VICI Properties (NYSE: VICI)<\/a>, which bought the related real estate assets.<\/p>\n

It\u2019s not yet clear if the Adelson\/Dumont group can work such wonders with the Dallas land or what their plans are for the property. The Mavericks are committed to playing the American Airlines Center through 2030. The team shares that venue with the NHL\u2019s Dallas Stars.<\/p>\n

Important Real Estate Clarification<\/h2>\n

The aforementioned Dallas acreage that\u2019s now owned by the Adelson\/Dumont consortium isn’t related to 108 acres of land near Texas Stadium in Irving, Texas that was purchased last July<\/a> by a limited liability corporation (LLC) tied to Las Vegas Sands.<\/p>\n

While Adelson remains the largest individual Sands shareholder and Dumont remains employed by the gaming company, they are the owners of the Mavericks, not the casino operator. For now, the aforementioned Irving transaction doesn’t involve the NBA team.<\/strong><\/p>\n

However, that deal did stoke speculation that Sands remains committed to bringing a casino resort to Texas and that the company could partner with Cuban on such a venture. He\u2019s long said he wants to bring an integrated resort to the Dallas area and that LVS is his preferred partner.<\/p>\n","protected":false},"excerpt":{"rendered":"

By way of their majority acquisition of the Dallas Mavericks, the Adelson and Dumont families took the deed to some pivotal real estate in the Dallas area. As part of the transaction that saw the families with ties to Las Vegas Sands (NYSE: LVS) acquire about 70% of the NBA franchise from now-minority owner Mark […]<\/p>\n","protected":false},"author":46,"featured_media":267660,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,33810,32093,83079,86438,86433],"tags":[81903,81898,81966,81033,86457,82058],"acf":[],"yoast_head":"\nAdelson, Dumont Families Gain Control Of Key Dallas Real Estate<\/title>\n<meta name=\"description\" content=\"Adelson, Dumont Families Acquire Marquee Dallas Real Estate.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/adelson-dumont-families-gain-control-of-key-dallas-real-estate\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Adelson, Dumont Families Gain Control Of Key Dallas Real Estate\" \/>\n<meta property=\"og:description\" content=\"Adelson, Dumont Families Acquire Marquee Dallas Real Estate.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/adelson-dumont-families-gain-control-of-key-dallas-real-estate\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-03T23:11:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-04T15:57:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/04\/4368.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"794\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/adelson-dumont-families-gain-control-of-key-dallas-real-estate\/\",\"url\":\"https:\/\/www.casino.org\/news\/adelson-dumont-families-gain-control-of-key-dallas-real-estate\/\",\"name\":\"Adelson, Dumont Families Gain Control Of Key Dallas Real Estate\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/adelson-dumont-families-gain-control-of-key-dallas-real-estate\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/adelson-dumont-families-gain-control-of-key-dallas-real-estate\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/04\/4368.jpg\",\"datePublished\":\"2024-01-03T23:11:05+00:00\",\"dateModified\":\"2024-01-04T15:57:58+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Adelson, Dumont Families Acquire Marquee Dallas Real Estate.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/adelson-dumont-families-gain-control-of-key-dallas-real-estate\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/adelson-dumont-families-gain-control-of-key-dallas-real-estate\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/adelson-dumont-families-gain-control-of-key-dallas-real-estate\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/04\/4368.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/04\/4368.jpg\",\"width\":1200,\"height\":794,\"caption\":\"Dr. Miriam Adelson in 2009 with her late husband, Las Vegas Sands founder Sheldon Adelson. 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