Las Vegas Sands abandons Spanish mega-casino project
MADRID (AFP) - US casino operator Las Vegas Sands said on Friday it has dropped plans to invest over US$30 billion (S$38 billion) in a mega-resort scheme that promised 260,000 direct and indirect jobs for crisis-hit Spain.
The company, owned by US billionaire Sheldon Adelson, said it would "continue aggressive pursuit of opportunities in Asia" where it already operates properties in Singapore and Macao.
"Developing integrated resorts in Europe has been a vision of mine for years, but there is a time and place for everything," Mr Adelson said in a statement.
"Right now our focus is on encouraging Asian countries, like Japan and Korea, to dramatically enhance their tourism offering through the development of integrated resorts there," he added.