Home/Eurovegas, News, Sheldon Adelson/Adelson’s EuroVegas Bets on Madrid

Adelson’s EuroVegas Bets on Madrid

Sheldon AdelsonEven though we asked the question if the EuroVegas project would see the light of day in our article dated the 7th of September, we now have confirmation that Sheldon Adelson has decided on the Spanish city which will host this gigantic project- and the winner is MADRID. Sheldon Adelson who made his fortune in casinos has chosen Madrid much to the great disappointment of Barcelona which was also in the running to host the ten land based casinos, golf courses and numerous hotels to welcome millions of tourists and casino players.

After several months of reflection, Sheldon Adelson decided on the Spanish capital, Madrid. EuroVegas will be built in Madrid but no date has yet been given. In fact, Madrid is Adelson’s final choice but the Spanish economic situation is in a pitiful state and the billionaire prefers to wait to see how it evolves before investing several billion euros. The Spanish economy is in much better shape than the Greek one but is having serious difficulty keeping its head above water and Sheldon Adelson is waiting to see how the country plans to recover before launching his project that will make Spain the leading European land based casino city. Spain won’t have as many casinos as France with its 200 real casinos but the gross income from EuroVegas’ gaming should easily surpass that of France. In fact, the gaming industry attracts tourists and millions of euros every year and EuroVegas wants to be the European Las Vegas or Macau. Without a doubt, EuroVegas will attract visitors from all over the world: from dedicated casino gamblers to families to celebrities to students. Even though this project is based on casino gaming other entertainment will be available such as is found in American or Macau casinos which generate a large part of their revenue from hotels, shows, shopping centres and other entertainment.

Sheldon Adelson has decided on Madrid and is waiting for positive signs from the Spanish economy before launching the adventure. Several slot machines, poker, baccarat, blackjack and live roulette tables and keno games will be available in all of the Madrid land based casinos. This project will take ten years to be operational with the key point being the creation of 250 000 jobs and this explains the frustration of Barcelona’s politicians who saw an opportunity to re- launch the local economy.

By | 2014-07-03T15:54:20+00:00 December 10th, 2013|Eurovegas, News, Sheldon Adelson|0 Comments