It has been a long battle between Madrid and Barcelona for the rights to host the new EuroVegas gambling complex, and the project’s developer has finally made a choice between the two cities. Las Vegas Sands CEO Sheldon Adelson has chosen Madrid for the new site of EuroVegas.
"Barcelona is an outstanding tourism destination, and choosing Madrid over Barcelona was not an easy selection," says Adelson.
The project will cost an estimated $22 billion to complete, but EuroVegas has a great deal of financial interest from investors across Spain. Since Las Vegas Sands has stated that it will only cover 35% of the development’s costs, a significant portion of the funding will come from local sources. However, business owners do not mind, as building a casino complex of this size in Madrid will certainly present economic benefits for the city, bringing in tourism and creating thousands of jobs.
Before building gets underway, Adelson has a few demands. He would like to have the city make an exception for the complex with its no smoking laws, allowing patrons to smoke inside the casinos. He would also like special zoning permits, allowing for sky-scraping hotels.
The casino complex will be built over the course of ten years, and the project will be carried out in phases. 12 hotels, six casinos and three golf courses are all included in the plans for the new gambling centre. There will also be countless restaurants, bars and retail shops.