BREAKING NEWS

Adelson's Las Vegas Sands registers 'Eurovegas' mega-casino in Madrid

By REUTERS

JULY 25, 2013 18:18

MADRID - Gambling industry mogul Sheldon Adelson's Las Vegas Sands has officially registered plans to build a sprawling resort known as Eurovegas outside the Spanish capital Madrid, the company said on Thursday.

The resort, to be built in the commuter town of Alcorcon some 15 kilometers south of Madrid, will be built on a 750-hectare site and will include up to six casinos, 12 hotels and shops.

"Las Vegas Sands Corp. confirms that it has produced a non-binding viability study to the regional government of Madrid, which lays out a preliminary vision for the development of a strip of resorts," the company said in a press release.

Initial investment in the resort, the first phase of which is due to be completed by 2017, will be some 6 billion euros ($7.9 billion) and could create as many as 250,000 jobs, a welcome boost for a country where more than one in four are out of work.

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