Spain: Las Vegas in Europa?
Barcelona or Madrid?
Before settling on the city of his choice and investing almost 17 billion euros in it, Sheldon Adelson wants to take the time to examine the different proposals. He has handed quite a list of demands to the presidents of the two regions. Among others, he hopes to get the land free of charge, a reduction of 95% on inheritance tax and no tax on VAT and the gaming tax for 10 years. To sum up, euro Vegas will be a tax haven.
At the moment it seems that Madrid is in the lead because the city has already been able to propose three venues for the future complex where as Barcelona has only proposed one but Barcelona has the geographical advantage of being closer to France. Madrid wants to play all its cards and isn’t skimping on the means even if it includes shocking public opinion. The President of the Madrid region has paid the price of this by confirming that she is prepared to do anything to get Euro Vegas, even including overturning the ban on smoking in casinos.
The presence of the very rich business man in Spain is dividing the population: some see it as a main way to get over the persistent economic crisis which has hit the country hard; others believe that the basic problem of the Spanish economy will not be resolved. One must wait until next September to know who is the lucky winner…