The plan to build a $30bn resort in the Alcorcón suburb of Madrid has now been abandoned.
The resort, with its 12 hotels, six casinos, a conference centre, golf courses, cinemas, shopping malls, bars and restaurants, was supposed to create up to 250,000 jobs. The problem though were the conditions which were set including allowing gamblers to smoke inside. The company also wanted guaranteed compensation in the event of future changes in legislation and demanded certain conditions in relation to taxes and legal protection.
Although the proposal was attractive, it met a lot of opposition from the church and other organisations who felt that the American billionaire, Sheldon Adelson was trying to take advantage of Spain’s economic situation.