Las Vegas Sands to unveil EuroVegas site in September

Tue Jun 26, 2012 3:06pm EDT
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By Tracy Rucinski

MADRID (Reuters) - Las Vegas Sands (LVS.N: Quote) will reveal in September which of Spain's two largest cities, Barcelona or Madrid, it will choose for its massive EuroVegas casino and resort project, the U.S. company's chief operating officer said on Tuesday.

Spain's two rival cities are vying for a planned 12-hotel, six-casino complex that could create a quarter of a million jobs in the country where unemployment tops 24 percent.

A decision on the location was expected in June or July but has been delayed because both Madrid and Barcelona have proposed new possible sites.

"What it's going to come down to is really what's the best location for what we want to do with this project," COO Michael Leven said at a news conference in Madrid, noting that both cities had notable strengths.

Leven and the company's board were in the coastal city of Barcelona on Monday, where they visited plots offered by the regional Catalan government for the project and enjoyed a dinner made by world-known Catalan chef Ferran Adria.

The entourage visited Madrid on Tuesday to see various sites around the capital before dining at the Prado Museum.

The Spanish government, which formally requested a European Union rescue for its banks on Monday, is keen for a project that could create employment that the recession-hit economy desperately needs.

Business magnate Sheldon Adelson, the chief executive and driving force behind Las Vegas Sands, chose Spain for his European dream project because of its weather and strong tourism and job potential, Leven said, and is undeterred by the deepening economic crisis.   Continued...

President and Chief Operating Officer of Sands Las Vegas Corp. Michael Alan Leven attends a news conference in Barcelona June 25, 2012. REUTERS/Albert Gea