Madrid Chosen To Become The Site Of EuroVegasLas Vegas Sands Picks Capital City Of Spain For Multi-Billion Dollar Project |
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Las Vegas Sands has announced that the casino company has chosen Madrid, not Barcelona, for a multi-billion dollar gambling resort which they are calling “EuroVegas.”
In a statement released on Friday, Las Vegas Sands Chairman and CEO Sheldon Adelson explained why the capital city was picked for the project.
“Barcelona is an outstanding tourism destination, and choosing Madrid over Barcelona was not an easy selection,” Adelson said. “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.”
The announcement was celebrated in Madrid, the most populated city in a country that is in the middle of a drastic economic slump. The recession is most notably reflected in Spain’s unemployment rate, which now sits at a staggering 24.63 percent.
Las Vegas Sands expects to create thousands of jobs in the construction and hospitality industries over the next 10 years. The “EuroVegas” gambling destination will have six casinos, 12 hotels, three golf courses and a convention center.
Adelson stated that he’d like to invest a total of $22 billion into the project, but his company has made it clear that they will not be spending more than $7.7 billion, or 35 percent of that amount.
Las Vegas Sands is the world’s largest casino corporation and owns the Venetian and Palazzo in Las Vegas, as well as the Marina Bay Sands in Singapore and the Venetian Macao, Sands Macao, Plaza Macao and Sands Cotai Central in Macau, China.
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