The company revealed the sale of $2 billion in stock in a filing with the Securities and Exchange Commission. Sheldon Adelson, the billionaire founder and owner of Las Vegas Sands, died in 2021 at 87. Miriam Adelson is the controlling shareholder of Las Vegas Sands Corp., a publicly traded Las Vegas company that built the Venetian and Palazzo resorts but now only has casino operations in Macau and Singapore.

The 65-year-old Cuban, who just announced he was leaving the popular business TV program “Shark Tank” after a 16th season next year, rose to fame quickly after buying the Mavericks in 2000.ĭallas was one of the worst franchises in pro sports in the 1990s, but turned into one of the best under Cuban, with a lot of help from star forward Dirk Nowitzki - now a member of the Basketball Hall of Fame and the leader of the team that won the 2011 NBA championship. He has been a proponent of legalizing gambling in Texas, an issue that didn’t make it out of the state Legislature in a biennial session that ended earlier this year.

Patrick Dumont, Miriam Adelson’s son-in-law, is President and Chief Operating Officer of the Las Vegas Sands company.Ĭuban said almost a year ago he was interested in partnering with Sands. “The families are targeting a closing of the transaction by year-end, subject to the satisfaction of customary closing conditions and approval of the NBA Board of Governors,” said the statement released by the Adelson and Dumont families. It revealed Wednesday that the team was the Mavericks. The company controlled by Miriam Adelson, widow of casino magnate Sheldon Adelson, announced earlier Tuesday it was selling $2 billion of her shares to buy an unspecified professional sports team. Cuban would retain control of basketball operations in the deal. The agreement would be in the valuation range of $3.5 billion, according to a person who spoke to The Associated Press on condition of anonymity because that detail was not being made public. The deal could be completed in the coming weeks. Business & Finance Click to expand menu.ĭallas Mavericks owner Mark Cuban has entered into an agreement to sell a majority stake in the NBA franchise to the family that runs the Las Vegas Sands casino company, it was announced Wednesday.

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