Adelson plans to open Multi-billion Euro-Vegas in Madrid

An entrepreneur Sheldon adelson bought sand hotels in 1989, has been in a deep discussion about opening Eurovegas in Madrid. Sands hotel was having trouble competing with Las Vegas strip which he owns. Adelson made an impact in business world on trade show business as early as 1970s. Despite of lasVegas taking a large market share, Adelson and his management team have been conducting meetings with the Government of Madrid and Barcelona during September 2012 to start Eurovegas .

Euro Vegas is going to be a multibillionaire gambling resort. Adelson reveals the latest plan of this project at Jerusalem during international tourism summit. During the summit Sheldon Adelson has been honored for his major contribution in traveling and tourism international. In his speech Adelson revels that “my mission is to make Madrid the conventional center of the world” his intention is to transform Madrid to the gaming centric regional location into the leading conventional and exhibition city in the united state.

Adelson has secure  about £8.3bn financing needed for EuroVegas, Adelson, has earmarked 12 3,000 room properties with 2,400 meeting facilities, set to transform the three square mile site. The first stage of the project – which includes four separate “resorts” with casino facilities attached – is expected to open in 2017.The final result will be a 72-storey hotel building including six casinos, a convention centre, three golf courses, theatres, shopping malls, bars and restaurants. A total of 240,000 direct and indirect jobs are expected to be created from the project, according to reports.

Here I’ve collected a few of the general cons of Eurovegas, let me know what you guys think.

• The proposed space in Alcorcon isn’t big enough. Sure, it’ll hold the casino, but with all the jobs it will likely create it’ll need hospitals, schools, and apartment complexes too.
• Fear of making a public investment in the project, only to have them reconsider and not go through with things (it’s happened before!).
• Worries about the type of tourists the project will attract. People go to Las Vegas to let loose; it has a reputation for smoking, drinking, prostitution and beyond. Local residents don’t want this in their backyard.

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