Planned Site for Eurovegas.
In early 2011, Sheldon Adelson (CEO of Las Vegas Sands) announced his intention of building a “mini-Las Vegas” in Spain. He knew that with the prevailing economical situation, just the promise of 180,000 jobs would grant him a red carpet from any politician. For more than one year, he was in talks with Madrid and Barcelona to host the gaming complex, playing both cities against each other for the best deal. In September 2012 he finally decided for Madrid, where the regional president had said that she would “change any law that has to be changed” in order to take Eurovegas to Madrid. And she did indeed go a long way by, among other measures, lowering gaming taxes from 45% to 10%, or pressing the national government to lift the newly passed public-smoking ban. However, it was never clear how Adelson would raise the money for his megacasino, and when in December 2013 he decided to withdraw his plan, Spanish politicians where left with a castle in the air. Since then they have been trying to find a substitute, with no success.