A Mega-Casino in Spain Project May Not Be What It Seems
San Francisco, CA -- (SBWIRE) -- 09/19/2012 -- Many are standing in opposition to a Mega-Casino in response to an American investor’s plan to build in Spain. After six years of negotiating, the plan is still in its early stages, yet many are worrying about its effect on the country. While the plan may seem to offer monetary flow into Spain, Las Vegas Sands Corp is only putting up to 35% of the resort’s estimated cost, a precautionary response to the debt crisis in Europe.
Civic groups are opposing the plan, claiming that it is not worthwhile. They claim it would be more of a loss than a gain for Spain’s economy. Cabinet official Jose Soria says this project is “Good news for Spain,” yet civic groups are quick to say otherwise. The country is suffering from 25% unemployment rate and this project may seem lucrative in terms of employment, but it is not in other ways.
Although this is an ambitious project, these groups claim that the country will have to compromise and compensate for it to happen. For instance, the country may have to use taxation in order to afford road construction and transportation to and from the casino. No EuroVegas Platform is among these groups and it estimates that Spain would have to spend around one billion Euros just to afford making the resort available. Ana Revuelta, a leader of this group and a casino opponent states, “We would be mortgaging our country if we allow this casino to be built.”
This would not be the first project in Spain where there were more losses than gains. There have been many remarkable projects that came in with so much promise and left the country with unused remnants. Such an example is the Don Quixote airport, a product of the Harrah Entertainment Inc’s attempt to build a casino-style hotel in Spain in 2005. The project never came to fruition and left the country with more debt than it previously held. While Sands and the Spanish government say that they see the project as a success story, much like the Marina Bay Sands story, where Sands built a casino in Singapore in 2010 successfully with the country gaining 20% increase in its tourism and 50% increase in its tourism income. Either way, there is much for the country officials and the Sands Corp. officials to consider as this plan comes to fruition.
For more information regarding Spain and its hotels and book flights, visit http://www.PinkRoseHolidays.com. There, you will find information on what is already available in Spain regarding tourism and entertainment.
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