Sands CEO Dumont Takes Control of Mavericks Stake

Las Vegas Sands Board Chairman and CEO Patrick Dumont has taken control of the family's 73 percent stake in the NBA team Dallas Mavericks. According to ESPN's initial report, billionaire Miriam Adelson transferred her ownership stake to Dumont and his daughter Sivan Ochshorn in October. Adelson has left the ownership group. The terms of the deal were not disclosed.

Adelson is the widow of Sheldon Adelson, who ran Sands for decades and died in January 2021. In December 2023, she paid $3.5 billion to Mark Cuban for a 73 percent stake and named Dumont and Ochshorn as co-buyers. Dumont has taken on the role of governor of the team. Cuban holds the remaining 27 percent. Because Dumont and Ochshorn were already recognized as majority owners, NBA owners did not need to approve the structure.

Dumont said the family has no intention of moving the team out of Dallas. He said the planned investment in the new arena would be a long-term contribution to the city. Cuban and Dumont had previously discussed building a casino facility next to the arena if Texas lawmakers put slot machines and table games before voters. This week, Democrats won the governor and lieutenant governor races in Texas, and the chances of legalizing gambling rose slightly.

The Mavericks' payroll for the 2026/27 season is $191.1 million, ranking 23rd among the 30 teams. Over the last two seasons, the team recorded 65 wins and 99 losses, and it traded Luka Doncic to the Los Angeles Lakers. Dumont said he understands Cuban's disappointment over this situation and respects him. The team is 4-4 through eight games and is tied for last place in the Southwest Division.