Will the Las Vegas Sands, owners of the Dallas Mavericks, manage to legalize gambling in Texas this legislative session?
Not if a coalition of freshmen in the Texas House of Representatives gets its way. Twelve Republican lawmakers who replaced pro-gambling politicians in the last election are holding the line against casinos, the Texas Tribune reported. They are joined by three others who voted in favor of sports betting last session but have since rescinded their support.
They said this week they would oppose “any attempt to expand gambling” this session, which ends in May. After that, the Texas Legislature won’t meet in regular session again until 2027.
Proposals to legalize casinos and sports betting have been introduced, but the GOP coalition aims to stop them in their tracks. Neither proposal has received a committee hearing, the first step to consideration by the full house.
That could be bad news for the city of Irving, where Sands is seeking zoning approval for a Mavericks stadium with a resort and entertainment center, including a casino. Sands is spending big on lobbying and advertising campaigns in favor of “destination resort” casinos. If a casino is a no-go, Sands has said it is likely to kill the entire proposal.
Meanwhile in Southern Dallas, developer Hoque Global met its first deadline in its agreement with the city of Dallas for its University Hills megadevelopment. The firm now has 60 days to purchase the 270 acres for the development.
One of Fort Worth’s biggest development players, Crescent Real Estate, shifted its C-suite with the appointment of Conrad Suszynski as sole CEO following the retirement of co-CEO Jason Anderson. Fort Worth is undergoing a development boom that is touching a beloved antique mall near the Cultural District, where Phoenix Property Company is planning a 12-story hotel, plus retail and multifamily.
In office leasing news, the flight-to-quality trend reeled in some big fish.
Law firm Skadden, Arps, Slate, Meagher & Flom leased 52,000 square feet spanning two full floors in Hines’ Texas Tower in Houston. The lease brings the building, at 845 Texas Avenue to 99 percent leased.
Another law firm, Hicks Johson, is spending $4.3 million to build out its lease at Skanska’s Norton Rose Fullbright tower at 1550 Lamar Street, which is downtown Houston’s newest office building.
And a retail merchandiser is moving its headquarters to 5801 Headquarters Drive in Plano, owned by Monarch Alternative Capital and Tourmaline Capital Partners and built in 2021. The company will exit Granite Properties’ Granite Park III, which was built in 2007.
And in Austin, Facebook and Instagram owner Meta Platforms is spending $3.7 million on an office buildout in downtown Austin, although it’s not clear for whom.
—Rachel Stone
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