The Straits Times
Published on Sep 08, 2012

Las Vegas Sands chooses Madrid for next gambling resort


LOS ANGELES (AFP) - Las Vegas Sands has chosen Madrid, Spain as the preferred location for building its next gambling resort, the company announced on Friday.

The company said it has completed its initial feasibility study and will now move to determining the size, scope, specific location and financing options.

"The regional government of Madrid has been a strong advocate for this potential development and we are appreciative of the energy they have brought to this process," said Mr Sheldon Adelson, chairman and chief executive officer of Las Vegas Sands.

"Barcelona is an outstanding tourism destination and choosing Madrid over Barcelona was not an easy selection." However, Sands cautioned that progress towards resolution of the current economic challenges within Europe will be an important consideration in the implementation of the project.