Financing Secured for EuroVegas
When the EuroVegas project gets underway later this year it will be one of the biggest building sites on the European continent. With over a dozen casinos and hotels to be created it is also bringing tens of thousands of jobs to a Spanish Economy that has been struggling since the economic crisis of 2009.
The man behind EuroVegas is US casino magnate Sheldon Adelson, the President of Las Vegas Sands Corporation. His plans call for a total of 36,000 hotel rooms, a convention center, and even a replica of Times Square in New York City! The crown jewel of the Euro Vegas project is to be a 72 storey hotel and casino that will be one of the largest structures in Western Europe.
The current unemployment rate in Spain is at 26% with many young people unable to find jobs. Regardless of the controversial nature of such a large project that will change the face of Madrid forever, many locals are supportive of anything that will boost the local economy.
However, if you’re thinking of booking a trip to EuroVegas, don’t get too excited. The first phase of the project is not expected to be complete until 2017. Those familiar with the bureaucracy in the EU know that even this far off date may be optimistic.