San Antonio/ Real Estate & Development
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Published on March 03, 2024
Frost Bank Becomes 'Official Bank of the Alamo' with $1M Donation, Miriam Adelson Shakes Up Texas with Dallas Mavericks Stake and Hints at Casino FutureSource: Google Street View

Banking on heritage and history, Frost Bank is stepping up with a hefty $1 million donation to the Alamo, aligning itself as the 'Official Bank of the Alamo' and backing the iconic landmark's future interactive app, a move disclosed by the San Antonio Report. Meanwhile, a seismic shift in the sports and gambling landscape is announced, with Miriam Adelson purchasing a majority stake in the Dallas Mavericks, a power play that could spur her casino legalization efforts in Texas, as reported by the Express News.

The high-profile collaborations don't shy away from the limelight, Frost Bank's Alamo sponsorship was made just ahead of Texas Independence Day, marking another chapter in Texas' storied synergy of commerce and culture, and Miriam Adelson, poised to exert newfound influence in the Lone Star State, has begun hobnobbing with key business leaders in Austin, weaving tales of affinity between Texans and Israelis, while eyeing the pot of gold at the end of the casino legalization rainbow. Texas has long resisted the allure of legalized casinos, but with the legislative session feeling the heat from Sands-backed bills and sports betting lobbying, the tables could be turning, despite Lieutenant Governor Dan Patrick's assertion that there's no direct correlation between Adelson's majority stake in the Mavericks and the future of gaming in the state.

On the Alamo front, the sprawling philanthropic gesture comes when the revered site is witnessing a renaissance of investments with earlier providences of $5 million each from both the May Family Foundation and the oil bigwigs at Valero, allying with legislative earmarks of a hefty $400 million for the site's redevelopment; the museum and visitor center, opening its doors in 2027, aims to be a comprehensive monument to the past, present, and future narratives intertwined within the Alamo's hallowed grounds, as iterated by Frost Bank's CEO Phil Green, who stated, "Frost and the Alamo are both longstanding Texas institutions, and we're proud to play a role in the revitalization of this site that's so important to the state's history," in a recent release embraced by the San Antonio Report.

Transitioning neatly, the Adelson-Mavericks deal is charged with implications far beyond jump shots and jerseys: the purchase by one of the richest women in the world is poised to potentially maneuver Texas closer to echoing the resonant dings and spins of slot machines, though the actuality of such legislation remains to be seen with both moneymakers and policymakers at odds, and gaming experts panting in anticipation as the state teeters on the brink of pivotal changes, Adelson, meanwhile, appears to be courting favor with local political gentry, her speech at the Texas Association of Business punctuated with allusions to Texas-Israel connections and marking Abbott as a "dear friend"; her generous contributions to Republicans could be instrumental in breaking the longstanding stalemate on gaming, as Express News has highlighted her ongoing financial support to key political players.