I was wondering what the general thoughts towards Eurovegas, the Las Vegas Sands' $22 Billion and counting plan to build a massive integrated resort consisting of six casinos, three golf courses, 17 theaters, a convention center, and 36,000 hotel rooms, outside of Madrid, with the promise of stimulating the entire Spanish economy, are. Obviously developments of this scale are rarely seen, and the current Spanish economic climate has allowed the Las Vegas Sands to modify legislation so that the legal climate is in their favor. Can a Las Vegas of Europe ever be developed, or is this a massive boondoggle?
http://www.businessweek.com/articles/2013-03-01/eurovegas-baby-billiona…
http://www.guardian.co.uk/world/2013/feb/08/eurovegas-gambling-complex-…
With an unemployment rate over 25%, I guess gambling and liquor is really their only hope.
Remember the Revel casino in AC. They also wanted to take a shot and boost the economy there. The casino went bankrupt within a year.
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