MADRID-Las Vegas Sands Corporation has dropped its plans to build a multibillion-dollar "EuroVegas" resort in Spain, and in a statement the company said it will focus global development efforts in Asia.
"We have reiterated time and again that our internal development process would dictate the outcome of a proposed development in Spain,” said Las Vegas Sands chairman and CEO Sheldon Adelson in a press release. “That process has been extremely thorough and while the government and many others have worked diligently on this effort, we do not see a path in which the criteria needed to move forward with this large-scale development can be reached. As a result we will no longer be pursuing this opportunity."
The casino company had considered investing more than $30 billion (22B Euro) in the project that was to include 12 hotels, six casinos, a convention centre, golf courses, theatres, shopping malls, bars and restaurants. Those plans were announced in 2012.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
