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Vegas Sands Picks Madrid For ‘EuroVegas’ Project

LAS VEGAS (AP) — Casino company Las Vegas Sands Corp. is picking Madrid over Barcelona for a big Spain casino project dubbed “EuroVegas.”

Company chairman and chief executive Sheldon Adelson said in a statement released late Friday in Las Vegas that Madrid emerged as the strongest advocate for the development.

Company officials call picking a location an important first step for the project.

It’s expected to take about 10 years to build six casinos, 12 hotels, a convention center, three golf courses, shopping centers, bars and restaurants.

The company plans to put up several billion dollars, but no more than about a third of the equity for the development.

Las Vegas Sands owns casinos including the Venetian and Palazzo in Las Vegas and several hotels and casinos in the Chinese gambling enclave of Macau.

© Copyright 2012 The Associated Press. All Rights Reserved.
This material may not be published, broadcast, rewritten or redistributed.

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