Las Vegas casino company cancels plans to build multi-billion 'EuroVegas' resort in Spain - InfoNews

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Las Vegas casino company cancels plans to build multi-billion 'EuroVegas' resort in Spain

FILE - In this June 7, 2011 file photo CEO of Las Vegas Sands Corp. Sheldon Adelson waves in Hong Kong. The Spanish government on Friday Dec. 13, 2013 rejected the terms of the U.S.company Las Vegas Sands, which in 2012 announced a multimillion dollar investment in Madrid for the construction of Eurovegas which would have been the first Las Vegas style resort-style gaming and entertainment complex on European soil. (AP Photo/Vincent Yu, File)
December 13, 2013 - 4:52 AM

MADRID - Las Vegas Sands Corp. says it has scrapped plans to build a multibillion-dollar "EuroVegas" resort in Spain.

A statement on the company's website Friday said the project near Madrid did not fit with the company's immediate development plans, which will be focused on its Asian business.

The casino company led by Sheldon Adelson had considered investing more than 22 billion euros ($30 billion) in the project that was to include 12 hotels, six casinos, a convention centre, golf courses, theatres, shopping malls, bars and restaurants.

Spain, where unemployment stands at 26 per cent, had hoped it might create some 260,000 jobs.

The plan had been fiercely opposed by many people who feared it would lead to a change in non-smoking laws, promote prostitution and provide only low-paying jobs.

News from © The Associated Press, 2013
The Associated Press

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