Patrick Dumont Secures Controlling 69% Stake in Dallas Mavericks via Acquisition of Miriam Adelson Shares

Las Vegas Sands Corp (LVS) Chairman and CEO Patrick Dumont has acquired Dr Miriam Adelson’s stake in the NBA’s Dallas Mavericks, securing a controlling 69% interest in the franchise. The acquisition was disclosed in a recent interview, according to reporting by ESPN as published by Inside Asian Gaming.

Dumont is married to Adelson’s daughter Sivan. The family first acquired a combined stake in the Mavericks in late 2023, a step many believe connects to efforts to legalize casino gambling in Texas. Adelson sold around US$2 billion in LVS shares to fund the original purchase, though she maintained little direct involvement in team operations.

Long-Term Investment Plans

Dumont told ESPN the acquisition “is really about long-term investment in the city of Dallas. The Dumont family is really committed to building what we hope is the best arena in the NBA, a really significant investment in the city that will help create the new 40-year home for the Dallas Mavericks, a great experience for our fans and inspire our team to win championships. That’s really what we’re focused on. We had the opportunity, and we’re really excited about it.”

He also addressed the option to acquire another 20% from minority owner Mark Cuban’s current 27% holding for US$3.5 billion, stating “Our plan is to look at that and to do that over time.”

Dumont serves as Governor of the Mavericks, representing the franchise on the NBA Board of Governors. His ownership has included the trade of Luka Doncic last year and the subsequent No. 1 draft selection of Cooper Flagg. Flagg and Kyrie Irving took part in large-scale community activities at The Venetian Macao ahead of the NBA China Games.

LVS owns Singapore’s Marina Bay Sands outright and holds a 75.6% stake in Sands China, operator of The Venetian Macao, The Londoner Macao, The Parisian Macao, the Plaza Macao and Sands Macao.