It looks like the Spanish market will do anything to rectify the recent economic difficulties, as recently European and US online casinos were granted licenses to operate in the country – and now Madrid is being dubbed EuroVegas after it was revealed that there are plans to build a massive casino resort there as part of the Sands brand. Sheldon Adelson is at the helm of this deal, which will see around thirty six thousand hotel rooms to accommodate visitors to the capital in twelve mega-hotels.
That is not all, either. Adelson plans to build at least six casinos in the farmland that currently surrounds Madrid, in an ambitious project that will reportedly take shape over the coming decade. He describes it as the Las Vegas Strip of Spain, and it will mean tens of thousands of construction jobs with permanent employment opportunities in the resort itself after its completion. This will be a hugely needed boost to the area for sure, and adding a bit of US style to this European capital will certainly provide a new reason for visitors from across the world to drop by with money to spend.
The sacrifice to get to that point may, however, be a little risky. Adelson has announced that the Las Vegas Sands is only willing to finance thirty five per cent of the resort, and that certain changes to local planning laws will need to be made before his plans can go ahead. In other words, he wants free reign as well as financial support – despite being the eight richest American, with a net worth in excess of $24.9 billion.
The question now is how long it will be before the Sands chain gives in admits that it, too, needs the online casino bonus that has brought renewed revenue to gambling houses across the world. Adelson has long held that he disapproves of the idea, but he is an old man now – surely we have to question whether he will even see the completion of this project, and when he is replaced as the head of the organisation we could see a change in that viewpoint. It would certainly make financial sense for one of the biggest casino brands in the world, which has a history of splashing out on the most expensive casino resorts every built as well as throwing huge amounts of money behind political candidates.