Spain sees gamble in vision of 'Sin City'
Wednesday, March 28, 2012 @ 1:38 PM
A Euro Vegas in down-and-out Spain?
Depending on whom you ask, it could be heaven-sent or a deal with the devil.
Casino mogul Sheldon Adelson's dream to build Europe's first Las Vegas-style resort in Spain would certainly bring much needed relief to an economy lurching into another recession and struggling with sky-high unemployment.
But the millions that would rain down come with strings attached: Adelson wants Spanish laws bent so that gamblers can smoke inside the casinos and new zoning regulations allowing him to send buildings soaring above the skyline. And not everyone is thrilled about the idea of Spain hosting a European Sin City that could attract prostitution and mafia gangs - and add gambling addiction to the woes of already desperate Spaniards.
Still, Madrid and Barcelona are both vying to woo Adelson and the $22 billion he wants to invest to erect "Eurovegas" - an array of six casinos, 12 hotels featuring 36,000 rooms, a convention center, three golf courses, shopping centers, bars and restaurants.
The two sites being eyed in Madrid each cover an area equivalent to 1,000 football fields.
Read more at nwsource.com