This Could Be Mark Cuban's Next Move After Leaving Shark Tank And Selling Dallas Mavericks Stake

Mark Cuban has been in the spotlight recently following a chain of career decisions that hint at a possible shift in his professional pursuits. The entrepreneur has sold a majority share of his basketball team and announced his departure from a popular reality TV show, leading to increasing curiosity about his forthcoming endeavors.

What Happened: Cuban has decided to step down from his role on Shark Tank, a reality television series featuring start-up pitches judged by entrepreneurs. Soon after this announcement, news surfaced about his decision to sell the majority stake in the Dallas Mavericks basketball team to Sheldon Adelson’s family.

Despite the sale, Cuban will continue to manage the team’s basketball operations and own a minority stake.

Following these high-profile shifts, speculation is rife about the 65-year-old businessman’s future plans. Although Cuban has previously hinted at political aspirations, he has ruled out running in the 2024 elections. His recent statements hint at a possible venture into the fast-growing U.S. legal gambling market, reported Financial Times.

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Recently, Cuban told a Dallas news outlet that the Mavericks deal would diversify the team’s revenue sources and potentially tap into casino tourism. “I think a new arena, real estate area and hopefully a future resort casino can replace what we lose in media, and fund current and future Mavs,” he said.

However, the prospect of a gambling venture faces a significant challenge as gambling remains illegal in Texas. Nonetheless, the sale of the Mavericks stake to the Adelsons, who are known for their casino empire, suggests a potential strategic alliance to foster a gaming empire in Texas.

Why It Matters: Cuban’s exit from Shark Tank was a surprise to many. His decision to not run for office quelled rumors of a political career.

However, the sale of his majority stake in the Dallas Mavericks to the Adelson family, known for their casino empire, provides a new perspective on his future plans. His recent moves and comments suggest a potential foray into the legalized gambling industry, despite its current illegality in Texas.

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Photo by Kathy Hutchins on Shutterstock