Las Vegas Sands' Adelson says plans $35 bln on Spain casino investment

[MindMover]

Last edited Wed Apr 11, 2012, 01:44 AM - Edit history (1)

Source: Reuters

Reuters) - U.S. billionaire Sheldon Adelson said on Wednesday that he plans to spend $35 billion on a mini-Las Vegas strip in Spain, where he is courting the country's two top urban areas, Barcelona and Madrid, with plans for a casino complex.

Las Vegas Sands Corp Chairman and Chief Executive Adelson also said he was looking to build in Japan, Korea, Taiwan and Vietnam.

Adelson was speaking at a press conference ahead of the opening of his new $4 billion casino property in Macau, the world's largest casino destination.

Las Vegas Sands said in February that it was studying an investment of as much as 15 billion euros ($20 billion) over 10 years in a casino complex in Spain, which would include 36,000 hotel beds, 18,000 slot machines and three golf courses.

Under its $31 billion Macau unit Sands China Ltd, the group already has two casinos open in the former Portuguese colony.

Read more: http://www.reuters.com/article/2012/04/11/lasvegassands-idUSH9E8EC01G20120411

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Sands opens new $4bn Macau casino to boost market share


Sands China, run by Las Vegas tycoon Sheldon Adelson, has opened its new $4bn (£2.5bn) casino in Macau after a delay of almost one year.

The opening comes as the firm has been its losing market share to new entrants such as Galaxy Entertainment.

The resort, which boasts 1,800 hotel rooms and 240 gambling tables, was delayed due to a shortage of construction workers.

Macau is the world's biggest gambling market.

Investment house CLSA estimates that Sands will increase its slice of Macau's gambling market to 20% by the end of 2012, from 15% last year.

The firm may also benefit from the the fact that no further casinos are likely to open for at least three years.

http://www.bbc.co.uk/news/business-17673629

[provis99]

1. dandy. Our biggest American export is crassness.

[MADem]

2. Oh, the British empire has some pretty well-entrenched gaming establishments.

We didn't invent that shit, we just added neon and noise.

[cstanleytech]

5. I would lay the blame more on the french for the popularity of neon for signs.

[0rganism]

3. yep, another big time job creator for somewhere else

we need to stop buying the bullshit and start raising the taxes.

[anti-alec]

4. There goes the rest of Newt's money

See, Newt, even Adelson has turned off the faucet and developed for jobs for OTHER people (not us Americans).

[cstanleytech]

6. Well they did say that giving the wealthy tax breaks creates jobs, they just meant overseas.

[PSPS]

7. According to the GOP, this guy pays too much in taxes?

[Tom Ripley]

7. International bloodsucker

[Tom Ripley]

7. This dirtbag knows where the money will be in the 21st century; he is a bloodsucker

[Sen. Walter Sobchak]

10. Because Sant Antoni and Ibiza in general just aren't disgusting enough

This is a pretty stupid idea timing wise since there are abandoned gaming, hospitality and entertainment projects all over Spain since the 2008 downturn.

[MindMover]

11. Maybe he could go to China next.....

http://thinkprogress.org/romm/2012/04/02/456278/the-emptiest-mall-in-the-world/

[DFW]

12. I hope he stays the hell out of Barcelona

I used to live there, and still go back every now and then (like in 5 days!). It is one of the coolest
cities in the world, and I would HATE for the likes of Sheldon Adelson to have ANYTHING to do with
altering its character.

Let him give a billion dollars to Gingrich or something.

[SemperEadem]

13. instead of building a casino

you need to be paying your boy gingrich's bounced checks... since you put up all that money for him and were so behind him.