London, Feb 9: A 19 billion pound ‘EuroVegas’ casino resort the size of 750 football pitches is about to be built in Madrid.
The huge complex on the outskirts of the city will include 12 hotels, six casinos, a convention centre, three golf courses, theatres, shopping centres, bars and restaurants, the Daily Mail reported.
The development of the casino resort will take 18 years to build and create 260,000 jobs.
It has been claimed that the project will provide a massive boost to the local economy in Spain, which has a huge deficit and unemployment running at 26 percent.
The mastermind behind the scheme is 79-year-old US tycoon, Sheldon Adelson, and his company Las Vegas Sands Corp.
Michael Leven, Las Vegas Sands CEO, said that the group will cover 35 percent of the equity investment and has assured Madrid authorities that funding to complete the rest of the project will be found.
Leven also said that Spanish banks are going to be among the investors, but did not reveal which. (ANI)