US company Las Vegas Sands has won approval to build a mega casino in Madrid.
With Spain’s unemployment level reaching 26 percent the so-called ‘Eurovegas’ casino has been billed to bring in tens of thousands of jobs.
Madrid government officials approved the mega-casino. Madrid had won out in a battle with Spain’s second-biggest city Barcelona to get it.
The complex could transform the fortunes of Alcorcon, a down-at-heel commuter town some 15 kilometres south of the Spanish capital. Government officials say the 750-hectare site could create as many as 250,000 jobs.
However, Spanish protest groups fear a rise in gambling addiction, prostitution and criminal activities. They also point out the potential damage to the environment.
The mayor of Alcorcon, David Perez, said people opposed to the project were showing little solidarity with Spain’s unemployed.
Four thousand jobless builders in Alcorcon would have work by the end of 2013 if it went ahead, Perez said in an interview on Spanish national television.
Eurovegas would include the tallest skyscrapers in Spain, Newspaper ABC reported.
Las Vegas Sands operations chief Michael Leven said the company would invest $3.6 billion (2.7 billion euros) to get the project off the ground, raise financing in 2014, and pay for 35 percent of the investment using its own funds.
The first phase would be completed by 2017.
“We have had assurances from many banks that we will have that money available so it’s not even a question,” Leven said.
- 1Failed breach attempt by migrants in Calais
- 2Scuffles at British side of Channel Tunnel in Kent over Calais migrants
- 3Funeral of Whitney Houston’s daughter overshadowed by family feud
- 4Suspected MH370 flaperon arrives for identification at BEA, Toulouse
- 5Turkey: two soldiers killed in suicide attack blamed on PKK
- 1euronews live TV - News | euronews : the latest international news as video on demand
- 2Russia unveils ‘straight’ flag, internet responds
- 3Seven reasons why Yanis Varoufakis is now a political legend
- 4Greek crisis: ‘Agreement reached’ after marathon talks
- 5International news | euronews, latest international news
- 6Nasa announces the discovery of an earth-like planet
- 7Is Saudi Arabia outlawing rainbows for being gay?
- 8French actor Gérard Depardieu ‘a threat to Ukraine national security’
- 9Pluto: New Horizons space probe provides closest-ever pictures
- 10International breaking news | euronews online world breaking news in video
- 11Latest News Bulletin
- 12BREAKING: Formal nuclear deal reached with Iran, says diplomat
- 13Greece votes ‘No’ in overwhelming rejection of bailout proposals
- 14‘Imposed’ bailout deal must be implemented, says Greek PM
- 15At least 10 dead in explosion in Turkish town close to border with Syria
- 16Greece clinches deal with eurogroup after marathon talks
- 17Berlusconi linked with a shock return to government – in Russia!
- 18Israel angry as Iran and West talk up nuclear deal
- 19Varoufakis resigns after Greek referendum
- 20The Pluto flyby : what we’ve learnt so far
Wires > News
- 21:50 CET Catalonia leader calls election framed as vote on independence
- 21:49 CET Burundian activist shot amid violence tied to contested…
- 21:35 CET Obama issues challenge on climate change with power plant rule
- 21:19 CET Special Report – U.S. State Department watered down human…
- 21:08 CET Italy arrests 11 in search for Sicilian mafia boss of bosses
- 21:01 CET Sweden expels Russian diplomat, Moscow makes tit-for-tat move
- 20:47 CET Russia says U.S. strikes on Syrian army would harm fight against…
- 19:26 CET Immigrants in Germany swell to record high 11 million