Are Casino Executives Eyeing Texas?

The upcoming Texas Legislative Session will arrive in January 2021, and it could be a high stakes session already. With redistricting on the table and having to conduct business during a pandemic, things are already a little risky.

Recently, the Texas Comptroller reported that there will be a budget shortfall, but it won't be as bad as everyone expected. That's good news. The bad news is, there does appear to be a shortfall.

Some lawmakers have already floated the idea of legalizing marijuana as a way to collect more taxes. Others have suggested casino gambling as a way to fix the budget shortfall. And it's not just lawmakers in Texas that might be eyeing casinos in the Lone Star State.

According to the Houston Chronicle, Andy Abboud with the Las Vegas Sands Corporation said "Texas is considered the biggest plum still waiting to be out there in the history of hospitality and gaming." According to the website, the Las Vegas Sands considers Texas a top destination:

Abboud said on Tuesday his company sees few places in the world as having a bigger potential for gaming. He said Texas is in a class with Japan, Singapore and Brazil as the best potential markets.
“We view Texas as a worldwide destination and one of the top potential markets in the entire world,” Abboud said during a conference organized by Austin-based Texas Taxpayers and Research Association.

Quorum Report has reported that Sheldon Adelson, Chairman and CEO of Las Vegas Sands, has hired 10 lobbyists ahead of the legislative session in Texas.

All of that said, it will be an uphill climb for casino gambling in Texas during this session.