Las Vegas Sands bets big on Texas’ untapped casino gold rush
Las Vegas Sands is aggressively pursuing entry into Texas, one of the last major untapped stock market opportunities in the US. The state’s size and potential stock market today revenue make it a prime target, but political hurdles remain significant. With lawmakers set to meet in 2025, the company is ramping up its campaign despite past setbacks.
Texas stands out as a rare 'true greenfield' opportunity for casino operators. Home to over 31 million people, it is the second-most populous US state. Sands estimates a fully developed casino market there could bring in $2.5bn to $3bn in annual state farm revenue, mostly from local customers rather than tourists.
The company has shifted its focus entirely to Texas after abandoning other domestic expansion plans. Its controlling shareholder, Miriam Adelson, quadrupled lobbying spending in 2024 compared to the previous year. Yet, efforts to legalise casinos or sports betting have so far failed, and Sands’ preferred state Senate candidate did not advance to a run-off.
Despite these challenges, Sands has not pulled back. It recently launched new media campaigns to promote its vision. Andy Abboud, the firm’s head of government relations, claimed in late 2024 that the odds of Texas expanding gambling were 'greater than 50%'. The next legislative session in 2025 will be critical for Sands’ ambitions.
Sands remains committed to Texas, betting on long-term success despite political resistance. The company’s willingness to invest reflects its confidence in the state’s untapped potential. If successful, it could secure a dominant position in one of America’s largest and most lucrative markets.
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