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Ever heard of Eilers & Krejcik Gaming? We mention them a lot on this site but we also understand not everyone is as plugged into the industry as us and knows their exact role in the industry.
Labeled EKG, they are one of the preeminent voices in the gambling industry. Officially, they are a research and consulting company, offering insights into the latest trends and happenings inside the space. Many movers and shakers in the industry — operators, regulators, and investors — hang on to their latest reports and wisdom.
Very often, EKG “tips” upcoming moves. That’s why we found it very intriguing when they listed Texas as a state likely to legalize gaming by 2025. Notice we said “listed” in past tense? That’s because Texas has been removed from the list, which is another tipping moment for the industry. Let’s dig into what happened:
Texas Dropped from EKG List
As part of their latest study — which is paid work, by the way — EKG turned bearish on the chances of betting in Texas. Here is their exact words;
“We previously projected that Texas would legalize in November 2025 via ballot measure and then launch in fall 2026. We’ve now pushed the timeline back a legislative session,” EKG said in its report.
So EKG’s updated timeline for Texas to join the list of legalized states in the U.S. to 2027. That’s the year it’ll get passed by the House and Senate, but it wouldn’t launch until 2028. It’s a prediction, but of course, EKG’s thoughts carry extra weight in this industry.
EKG says the main roadblock in Texas right now is that political opposition hasn’t wavered all that much. The Senate, in particular, is staunchly opposed to any kind of betting — sports or casino. Lieutenant Governor Dan Patrick, who leads the senate and is second in power to the governor, has not been shy about his negative opinion. He has a lot of quotes on it but here’s one worth highlighting:
“Texas is a red state. Yet the House vote on sports betting was carried by a Dem majority. The Texas Senate doesn’t pass bills with GOP in the minority. The GOP majority guides our path.”
You heard the man! He’s referring to a 2023 sports betting bill that did pass on the House, before dying big time in the Senate. The red-blooded Republicans that occupy the Senate are mostly in unison with their opposition toward betting. How, or if, that changes anytime soon is the only real path forward.
Not Even Money Has Changed Opinions (Yet)
The keyword on the above headline is yet. Things can change, but as right now, hundreds of millions — if not billions — of dollars have yet to flip the opinion of Texan Republicans. This is via lobbying, but also business acquisitions.
Most of this money is coming from one source — Miriam Adelson and the Las Vegas Sands Corp. She owns the majority of the company after her husband and casino mogul, Sheldon, passed away. Miriam has poured her wealth into a Texas betting movement.
Most famously, she bought the majority of the NBA franchise, the Dallas Mavericks (73 percent for $3.5 billion, to be exact). This was a shocker in NBA circles given Mark Cuban’s deep association with the team. But Adelson pulled off the blockbuster trade. She also acquired a ton of vacant land in Irvine, Texas. If you connect the dots, this is likely for a new area with the Mavericks.
But here’s why Adelson is really motivated by: she wants to turn the new arena into an entertainment hub with the state’s first legal casino (operated by The Sands, of course). It’s a multi-billion dollar idea for now cause she’ll need to get politicians on her side to make it a reality.
So far, her efforts haven’t worked. In May, the Texas Tribune reported Adelson forked over $9 million to the Texas Defense Fund (TDF). The TDF is a political action committee (PAC) that supports Republican incumbents in the Texas House during the primary elections.
It’s a shame because if polls are to be believed, Texans actually do support sports betting even if their elected officials don’t. In May, polling revealed that 47 percent of Texans support legalizing online sports gambling compared to 37 percent who said they were against it. See? The scales have been tipped by nonstop advertisements of sports betting apps on TV and streaming games.
We’re with EKG on this one. We just don’t see a realistic path forward in Texas with the current crop of Republicans leading the state. That brings us to our somewhat hot take: sports betting in Nevada won’t be legalized until these Republican leaders are replaced or die off.
Replacements are possible if Donald Trump is elected president in November. Some of these Texans can be hired away for roles in his administration, which would mean they vacate their Texas roles. As for dying off, it seems that’s the current trend with many politicians overstaying their welcome despite declining age. We’re seeing that in every level of American government, including the top position.
Will see what happens, but again, we’re not holding our breath anything changes soon.
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