Plans scrapped for ‘EuroVegas’
MADRID (AP) — Casino operator Las Vegas Sands on Friday scrapped plans to build a “EuroVegas” resort near Madrid after the Spanish government rejected as illegal concessions demanded for the investment.
The company, led by 80-year-old American tycoon Sheldon Adelson, had proposed a $30 billion project that was to include 12 hotels, six casinos, a convention center, golf courses, theaters, shopping malls, bars and restaurants.
The government in Spain, where unemployment stands at 26 percent, had hoped it might create some 260,000 jobs, especially among the young, where unemployment is around 50 percent.
But the plan had been fiercely opposed by many who feared the resort would lead to a change in non-smoking laws, promote prostitution and provide only low-paying jobs.