Innovate Gaming Review 2013/14 Edition 1 | Page 32

INNOVATE GAMING | MARKETS - EUROPE INNOVATE GAMING | MARKETS - EUROPE Spain - EuroVegas Spain - BCN World Scepticism is still the backdrop to Las Vegas Sands’ EuroVegas project as the gaming industry tracks its progress. Critics claim developing a €18bn complex is implausible in Spain’s current economic climate, but after losing the 2020 Olympic bid to Toyko, the regional government of Madrid is now vying more than ever for Europe’s largest gaming project to come to fruition. When Las Vegas Sands selected Madrid as the location for EuroVegas, Barcelona announced plans for a rival €4.8bn gaming complex that local authorities hope will attract an extra 10 million visitors annually to the tourism captial of Spain. After months of secret negotiations, the regional government of Catalonia unveiled plans for its new entertainment and gaming destination dubbed “BCN World”. Despite long-term economic and social uncertainties, Sands CEO and casino visionary Sheldon Adelson is known to take big risks. It would be no surprise to see one last bold venture before his retirement, enabling Sands to leverage Spain’s healthy tourism industry and accessible location as a gateway to Europe. The project was officially registered in July, presenting the government with detailed plans, an environmental report, economic impact study, project tourism analysis and employment forecasts. The BCN World initiative calls for land next to the Port Adventura theme park in Tarragona to be transformed into six themed tourist complexes depicting the cultures of Europe, the US, China, Brazil, Russia and India. The costal region of Tarragona is located one hour south of Barcelona city centre and where a small hub of gaming vendors’ Spanish operations are based. Under the proposal, the first stone would be laid early next year and start the makings of a 6-year master plan to bring a vast complex of casinos, hotels, golf courses, conference centres and retail stores to debt-ridden Spain. It would be the largest facility of its kind in Europe and the location has been specified as a 1853-acre plot in Alcorón, a commuter town 13km southwest of Madrid. Image: Las Vegas Sands conceptual render Ignacio González, President of the regional government, avowed that EuroVegas would occupy an area equivalent of 750 football fields in the dormitory city. Despite fierce resilience that the project will increase crime and gambling addiction, government-owned PromoMadrid estimates that EuroVegas could create 261,000 upon completion, equal to about half the number unemployed in the region. “For some time we have been working on an inspiring and extraordinary project whose goal is to make Madrid the international reference point for conventions, exhibitions and leisure in Southern Europe,” explained Gonzáez, adding that with the recently built terminal, Madrid airport now has enough air cap