Las Vegas Sands Scraps Eurovegas Plans

Las Vegas Sands Corp currently owns various different hotels and casino complexes in Las Vegas (The Venetian, and The Palazzo etc) Pennsylvania (Sands Bethlehem), China (Sands Macao, and Four Seasons Hotel Macao etc), and Singapore (Marina Bay Sands).

Over the last couple of years they have been planning to expand their portfolio by creating a giant casino complex in Spain called Eurovegas. There was fierce competition between Madrid and Barcelona to be home to this £18 Billion project, which would have included 6 casinos, 12 hotels and various different luxury shops. However, Las Vegas Sands Corp has since pulled out from the project, due to the Spanish authorities not agreeing to all of their demands.

Las Vegas Sands Corp was hoping that their resort would be exempt from Spanish rules on smoking and would; therefore, be able to offer their customers the chance to smoke whilst they gambled. They also wanted the government to insure against future changes in gambling policies, and to also give them a lower tax on gambling. Understandably the government could not comply with these requests, which has led to the Eurovegas complex being scrapped.

Las Vegas Sands Corp is of course disappointed by the outcome; however, they will be focusing on building integrated resorts in Japan and Korea.