THE MACAU METRO MONITOR, JUNE 6, 2013
EUROVEGAS IN "A COUPLE OF MONTHS" Macau Daily Times
The EuroVegas resort project in Alcorcón, on the outskirts of Madrid could get the go ahead from the Spanish government in “a couple of months.” The assurance was made by the prime minister of Spain to Adelson and Leven last week, when they made a stopover in Madrid on the way to Tel-Aviv and Macau.
“We met with the prime minister Mariano Rajoy, the president of Madrid and other officials," Mike Leven told the Times, adding that “we went through the four or five remaining outstanding situations of the deal, and they’ve assured us they are going to get back to us sometime in the next couple of months. And I must say, and Sheldon said this in Israel, the Spanish government is trying very hard [to move ahead with the project].”
The investment in the first phase amounts to USD10 billion, an amount which worries both investors and analysts who have shown their fears with the risk the European LVS mega-bet may pose to the company. To this, Leven responded: “Adelson’s not going to bet the company and he’s not going to risk the company without having the kinds of concessions that reduce the risk of the financial investment.”
EuroVegas resort project in Madrid would emphasize amenities aimed at the meetings and conventions sector, including a total of 2,400 meeting rooms and 12 hotels with about 3,000 rooms each.