Despite the recent suggestion put forward by General Secretary of the Socialist Party of Madrid, Tomás Gómez that plans for the new Euro Vegas in Spain have ‘fallen through” Las Vegas Sands has officially registered a feasibility study for the new EuroVegas complex. In what has been described by the President of the Community of Madrid Ignacio González as a “magnificent move” the first phase of construction will consist of 12 hotels, six golf courses and six casinos.
The feasibility study for the implementation of the casino and entertainment complex in the suburb of Alcorcon was formally presented yesterday morning by company representatives.
It is 326 pages long and divided into two volumes and contains a study on the impact on the economy and employment prospects in Madrid. It also outlines the increase in investment the complex would bring to the tourist industry. The first phases of the project will consist of the construction of twelve hotels which combined will house 36,000 rooms, three golf courses, a large number of restaurants and six casinos. The project will create 20,000 construction jobs along with a further 72,000 jobs in the service sector. The initial stages will cost an estimated €6bn.
With the slogan “A Dream is Possible” the two volume feasibility study also came with a personal letter from Sheldon Adelson himself. It is now up to local officials to examine the report and decide whether to give their approval. It is believed that construction could begin in the first half of next year. In a press conference following the delivery of the study Mr Gonzalez told press that the new complex would increase tourism by up to more than 20 million.
However, Mr González refused to comment on the controversy surrounding a possible lifting of the smoking ban. Mr Sheldon has requested that the Spain’s tough anti smoking ban be partially lifted in order for his investment to be commercially viable and it is believed that legislators are currently looking at ways to lift the ban.