11 jun 2013

NEWSUPDATE: Eurovegas in Madrid – Wanna bet?

Eurovegas Madrid - Wanna bet?
After having decided in September last year that Madrid and not Barcelona will be the place to be for Eurovegas, there are negotiations to be concluded before the construction work can begin. Final price of the land, tax concessions, exceptions to the anti-tobaco law … Eurovegas has several open discussion points before we can get to hear: Place your bets please! in Madrid.
In this news update you will quickly find out the latest developments in this billion euro project.

Will Eurovegas be definitely be in Madrid?
At the moment, the company Las Vegas Sands, the project investor in the name of the billionaire Eurovegas driver Sheldon Adelson, is negotiating to buy the building land for as less money as possible. Las Vegas Sands has launched an ultimatum or bluff – nobody knows – that if the bargain basement offer of 70€ per square meter is not be accepted, final location of the mega resort Eurovegas will be changed.

Eurovegas: Smoking area
Madrid Eurovegas - this is the plan.
Spain's anti-tobacco law is another sticking point . The Prime Minister, Mariano Rajoy, confirmed in late May that he met with Sheldon Adelson discussing the Eurovegas issue, but no final decision has been taken on a possible exception to the current anti-smoking law which prohibits smoking in any public places including bars, restaurants, nightclubs, casinos or bingo halls. Any "special agreement" is likely to limit smoking to the casinos and arcades. Sheldon Adelson said that he did not believe there would be any problems getting the necessary concessions, so at least on this front it appears that a verbal agreement has been reached even if the laws have not yet been amended.  

Las Vegas Skyline

What will Eurovegas look like?
The largest structure will be a 72-storey hotel, which will dwarf Madrid's Cuatro Torres, and be Spain's tallest building. The complex will also feature a circus, stables, four resorts, huge green areas and several hotels and casinos. It is envisaged that the Eurovegas Mega Resort design will mirror Times Square.

When will be Eurovegas up and running?
The President of the Comunidad de Madrid, Ignacio Gonzalez recently declared that the first stone will be placed before the end of 2013 and that its first construction phase, which includes four luxury hotels, will be completed by 2017. So, obviously there is no need to worry and by late 2017 we will all have the possibility to get rich…or die trying (because of the smoke).

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