Las Vegas Sands Chooses Madrid for EuroVegas

The Las Vegas Sands has now announced the area where they plan on building a new gambling resort that they have named ‘EuroVegas’. The Las Vegas Sands has chosen Madrid, Spain as the destination for their multibillion dollar gambling project.

This past Friday, the Las Vegas Sands released a statement on the decision and Chairman and CEO Sheldon Adelson reported why the capital city was chosen for the gambling resort. Adelson stated: “Barcelona is an outstanding tourism destination, and choosing Madrid over Barcelona was not an easy selection. The regional government of Madrid has been a strong advocate for this potential development, and we are appreciative of the energy they have brought to this process.”

Madrid celebrated the announcement by Las Vegas Sands because they are currently struggling economically. The unemployment rate in Spain is at almost 25 percent so the addition of the gambling resort will definitely be beneficial to residents. The new gambling resort is expected to bring in thousands of jobs with the construction and hospitality industry, over a ten year period.

The EuroVegas gambling resort will have a total of six casinos and twelve hotels, not to mention the three golf courses and a convention center. Adelson reported in the press release that he would like to spend around $22 billion with the project. However the company has stated that they will not be spending that large of an amount. The company is looking at spending around $7.7 billion.

Adelson further reported that he would like to see Spanish laws changed so that gamblers will be allowed to smoke inside the casinos. He would also like to see new zoning regulations created which would allow him to send buildings much higher into the sky line.

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