Dallas Mavericks Owner Patrick Dumont Promoted to Sands

A major power shift is coming for one of Texas’ boldest development bets. 

Patrick Dumont, governor of the Dallas Mavericks and a prominent figure in the team’s majority ownership group, has been named the next chairman and CEO of Las Vegas Sands, the Dallas Business Journal reported. 

Dumont will assume the role next year, following the retirement of CEO Robert Goldstein as Sands looks to develop a Mavericks-anchored resort project in Irving.

Dumont’s elevation to CEO comes amid Sands’ pronounced real estate ambitions in Texas, which include political moves aimed at legalizing gambling in Texas.

Sands owns more than 259 acres in Irving, near the former Texas Stadium, which is the center of Sands’ vision for a massive destination resort, including a stadium for the Mavericks. 

Irving city leaders have been considering zoning changes to allow a 182-acre mixed-use development, including an arena with at least 15,000 seats and potentially a casino, pending legislation.  

In January 2024, Sands also acquired over a dozen acres from Cuban in Dallas’ Design District, including the Mavericks’ practice facility. 

This Texas legislative session marks the third straight year of Sands’ lobbying blitz to bring destination resorts with casino gambling to Texas cities. It has already invested millions into the campaign, and Dumont’s promotion could place him at the forefront.

Dumont, president and COO of Sands, is also the son-in-law of billionaire Miriam Adelson, Sands’ majority shareholder and widow of company founder Sheldon Adelson. Dumont became governor of the Mavericks after the Adelson family bought a majority stake in the franchise for $3.5 billion from Mark Cuban in December 2023.

Goldstein, who took over after Sheldon Adelson’s death in 2021, will transition to a senior advisory role through March 2028. 

— Judah Duke