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Vikki Goodwin defeated Texas Lieutenant Governor Dan Patrick, a known opponent of gambling legislation, according to a Nov. 5 report by GuruFocus. The outlet linked the election results to improved prospects for casino legalization and investor optimism surrounding Las Vegas Sands.
Report highlights Goodwin and Johnson victories
GuruFocus reported that Democrat Goodwin defeated Patrick and identified Nathan Johnson as attorney general-elect. Johnson has advocated legalizing casinos and sports betting, according to the outlet.
The report said optimism about possible Texas casino legalization lifted shares of Las Vegas Sands. The company develops and operates integrated resorts primarily in Asia, including The Venetian Macao, Sands Macao and Marina Bay Sands in Singapore. It divested its Las Vegas properties in 2022.
Casino legalization would require a constitutional amendment
Any Texas casino legalization would require a constitutional amendment, according to GuruFocus. The next procedural step would therefore involve an amendment proposal rather than an immediate change in gambling rules.
The outlet identified November 2027 as the earliest possible public vote on legalization.
More from playtexas.com – Las Vegas Sands Corp. Could Use Dallas Development Plans To Push For Casino Legalization – Casino Gambling, Sports Betting Expansion Doubtful Following Texas Lottery Drama – Dallas Takes Step Forward To Advocate For Statewide Gambling
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Source: As reported by gurufocus.com.
