Operator News
Spain – Hard Rock linked to BCN World investment
By Phil - 26 June 2013
Reports out of Spain are linking American hotelier to the US$1bn BCN World casino resort development set for the outskirts of Barcelona.
The hotel and casino operator is reportedly about to commit to the second phase of the project with a development expected to be based on City of Dreams in Macau, will be the benchmark. Hard Rock’s partner in that project, casino operator Melco International has already been closely linked with BCN World. One of the partners will is believed to be looking at developing in the area known as R-5 with the first complex set to be built in the area known as R-4.
Hard Rock was long associated with the Euro Vegas project earmarked for Hungary, a project that has since stalled. Ensuring BCN World does not suffer the same fate seems to be a priority for local politicians. Peter Grant, the Mayor of Salou, one of the regions closest to the project said: “BCN World advancing at top speed is a reality that locations such as Salou, Vila-seca and Costa Daurada all value as one of the most important tourist developments in the world. It will create jobs at a time when local need them most.”
Construction of the first resort will not begin in September, as originally envisaged by promoter Veremonte with delays until at least the end of the year. The project is still waiting for the government to approve the various licences before construction commences.
A spokesperson or BCN said: “We can’t begin in September because of the issue regarding the licenses. Hopefully we can start before the end of the year, but until after summer we will not know.”
BCN World’s President Xavier Adserà has repeatedly stated his desire for the first resort to be ready in 2016.
The Government has already drafted the bill to begin construction of the leisure and tourism resort, which will be located next to PortAventura. The new bill, focussing on authorising gambling and betting activities within the Centre Recreatiu i Turístic (CRT), will be presented to Parliament in July.
The first phase of the development will include the Meliá hotel chain, the commercial firm Value Retail and casino operator Melco. The source added: “We are about to reach agreements with three investors, but we can’t reveal their names until the deal is completely closed.”
It is envisaged that BCN World would open with a single resort called Barcelona Dream which would have a foot print of 3.2m sq. ft. offering 1,100 hotel beds, a casino and a theatre. It could be open by 2016.
The project would be funded equally by bank loans and equity. Each partner brings a different amount BCN World project. Melco could invest almost $150m, according to sources close to the project.
The long-term plan is to open six resorts at BCN World with six hotels, a total of 12,000 rooms, six casinos and retail offering up to 450 brands. Each casino will be themed on a geographical part of Europe, the USA, China, Brazil, Russia or the Middle East.
