Global Views

Spain: First Step towards EuroVegas Madrid

Spain: First Step towards EuroVegas Madrid

By Leslie J. López
LatinaLista

SPAIN — "We are negotiating strongly with banks, but the details will be known after the location is decided. The project will be a continuation of our resort in Macau" said Sheldon Adelson, chairman and chief executive officer of the Las Vegas Sands Corporation.

The American tycoon visited Madrid one month ago to confirm that Eurovegas — Adelson's plan to bring a taste of the Vegas strip to the outskirts of Madrid — will be a real project. The location is just the last detail before beginning construction. Adelson has announced that Eurovegas will be launched in late 2013 and there is already funding.

[caption id="attachment_22978" align="alignleft" width="300"] Rendering of EuroVegas in Spain.[/caption]

"We are working to finalize the site that eventually will house the project and the financing terms of the same over the coming months", explained Ignacio González, president of Madrid region. The company estimates that the total investment required is around 18 billion euros. The money would go towards building six casinos with 18,000 slot machines and 1,000 gambling tables, three golf courses, 17 theaters, a convention center, restaurants, shopping centers and 12 hotels featuring 36,000 hotel rooms.

Also, before any branding of the project can begin the name of the gambling resort needs to be finalized. EuropaVegas is being discussed as another option.

This luxury resort is Sheldon Adelson’s first great project in Europe. Las Vegas Sands Corporation projects the investment will create more than 200,000 jobs.

During the press conference, Michael Leven, CEO of Las Vegas Sands said the project was a pleasure. "We are thrilled. Once again we can guarantee that we have the capital necessary to make this go forward."

The controversy

However, for some Spaniards Eurovegas is a controversial project. “Plataforma Eurovegas No,” an association comprised of different civil groups, is totally opposed to the Eurovegas project. They denounce the lack of transparency of the deals between the three levels of the Estate — local, regional and national — and the tycoon Sheldon Adelson.

Plataforma Eurovegas No thinks this ambitious project breaks labor and union rights. Members of “Ecologistas en Accion” — a green organization — demonstrated against this “mega-construction” in Spain.

“It needs more resources than what we have in the Madrid area," said the green organization which declared that EuroVegas would produce a negative impact on the environment. Other political parties – PSOE e IU — also disagree with the “venture” of Las Vegas Sands.

Leslie J. López is a freelance journalist based in Sevilla, Spain and publisher of InSevilla.

Click to add a comment

You must be logged in to post a comment Login

Leave a Reply

Global Views

More in Global Views

624x468

Peru’s beautiful and ancient Vilavilani cave paintings left unprotected

Latina ListaMarch 23, 2015
paraguay-headdress_1619803i

Want to find your ‘happy place’? Gallup poll says look in Latin America

Latina ListaMarch 19, 2015
20150310_13_45_MexicoLeaks_Twitters

Mexico launches nationwide whistleblower initiative with MéxicoLeaks

Latina ListaMarch 10, 2015
1069143

Peruvians want to throw trash TV off the airwaves

Latina ListaMarch 3, 2015
teotihuacan1

New threats challenge Mexico’s Teotihuacán’s chances of retaining splendor for next generation

Latina ListaFebruary 25, 2015
1200x-1

Infested coffee plants have Peruvian farmers growing more coca leaf

Marisa TreviñoFebruary 17, 2015
800xNxplastic-bottle-payment.jpeg.pagespeed.ic.rC0PckfcLT7sf7IhcIje

Uruguayan shoe company appeals to buyers to clean up environment and get a discount

Latina ListaFebruary 16, 2015
Leyzer_Chqu_n_RECMA_

Indigenous community radio journalists in Guatemala seek global support to combat government abuse

Latina ListaFebruary 13, 2015
Mexico-Kidnappings-Top-105000-In-2012-But-Few-Reported

Is the Government Manipulating Kidnap Statistics in Mexico?

Latina ListaFebruary 9, 2015