CASINO

Sheldon Adelson wants to build casino-resort in Spain; also eyeing Asian expansion

TAGs: Asia, Casino News, gambling, Sands, sheldon adelson, spain

Sheldon Adelson combover hairU.S. billionaire and casino mogul Sheldon Adelson just opened a new $4 billion casino property in Macau – the Sands Cotai Central – but ever the savvy businessman, he already has plans on making his next casino project, this time in Spain.Speaking at a press conference in Macau, the chairman of Las Vegas Sands Corp. announced his plan to build a $35 billion casino destination in Spain, one that his ever-churning mind has pegged as a ‘mini Las Vegas’.

“We are looking at 12 integrated resorts, 3,000 rooms each. A mini Las Vegas, about half the size of the Las Vegas strip in Spain for the European market,” he said.

Adelson’s grandiose plan is to build 12 resorts with each building costing an estimated $2.5 – $3 billion, a project that is expected to take five to 10 years to complete, the result of which would include 36,000 hotel beds, 18,000 slot machines, and three world-class golf courses.

The announcement wasn’t really surprising even when you consider the gripping financial crisis that has put a stranglehold on Europe in the past years. According to Adelson, the time it takes for the entire project to finish would be enough for the demand for the casino resorts to increase significantly. Likewise, the man’s plan of European casino domination could also be traced to the tremendous success he has had in Asia, particularly the Marina Bay Sands in Singapore, which is one of the world’s most profitable casinos, and the Venetian Macau, which has become one of the most sought-after casino destinations in the fast-growing market of Macau.

In addition to his plans for Spain, Adelson also has expansion plans in Asia, particularly in Japan, Korea, and Vietnam. “We are looking to build two each in Japan, Korea and Vietnam. Taiwan is late in catching up. There is pending legislation in the other three countries,” he said.

Sheldon Adelson has never been shy of making business leaps, and his latest proclamation is yet more evidence of the man’s burgeoning worldwide casino influence. He already has a handful of new – and highly profitable – casinos under his belt in Asia, and now he’s looking to break more ground by establishing a foothold in the European market.

All this leads us to think that this man could very well be playing Monopoly and he’s got the entire board covered with his name.

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