Multi-billion Euro-Vegas project planned for Madrid

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29th May 2013
Multi-billion Euro-Vegas project planned for Madrid

Las Vegas Casino giant Las Vegas Sands Corp. has chosen Madrid for a multi-billion dollar gambling resort project which has been dubbed “EuroVegas” and will be Europe’s biggest casino and conference centre.

The latest plans for this exciting project were revealed by the company’s chairman and chief executive officer Sheldon Adelson at the Jerusalem International Tourism Summit.

The 79 year old entrepreneur, philanthropist and businessman, whose career spans six decades, was honoured for his tremendous contributions in the travel and tourism industry earlier today at the Summit.

Widely credited for transforming Vegas from a gamingcentric regional location into the leading convention and exhibition city in the United States, the tycoon now has his sights set on Madrid .

He revealed to delegates at the Jerusalem forum that his vision is to make Madrid “the convention centre of the world”.

Having secured the £8.3bn financing needed for EuroVegas, Adelson, has earmarked 12 3,000 room properties with 2,400 meeting facilities, set to transform the three square mile site.

The first stage of the project – which includes four separate “resorts” with casino facilities attached – is expected to open in 2017.

The final result will be a 72-storey hotel building including six casinos, a convention centre, three golf courses, theatres, shopping malls, bars and restaurants.

A total of 240,000 direct and indirect jobs are expected to be created from the project, according to reports.

Adelson also has his sights set on major Integrated Resort projects in South Korea, Japan, Vietnam and Thailand.

Las Vegas Sands Corp. is now the world’s largest casino corporation, posting profits of $1.27 billion in 2011.

It owns the Venetian and Palazzo resort casinos on the Las Vegas Strip and the Marina Bay Sands in Singapore.

The Venetian was named North America’s Leading Casino Resort by the World Travel Awards in 2010, meanwhile Las Vegas Sands Corp was named World’s Leading Integrated Resort Company by the Word Travel Awards in 2012.

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