This is an interesting initiative, and of particular interest to the philosophical community is that one million dollars in revenue from the new venture will be used to endow a new Chair in the Department of Philosophy.

ADDENDUM:  Alas, Texas is still ruled by what may be the dumbest and most venal Republicans in America, and so even with $10 billion dollars in the 'rainy day' fund and no personal income tax, they are proposing to slash spending on public education, including higher education.  How precisely this will affect UT Austin, the flagship, remains to be seen.