Does Las Vegas Sands have eyes for Athens?

greece-billionaires-editionLas Vegas Sands may still be feeling bad over its decision to scrap its EuroVegas plans in Madrid, Spain, but the US-based casino operator remains undaunted in setting up shop on European soil.

So with EuroVegas now out of the equation, LVS’ next move is to apparently examine set its sights on another country desperate to get its employment figures up.

No harm then in trying to look at Athens, Greece as an option, right?

Athens is one of several European cities that Sheldon Adelson’s company is looking into building one of its mega casino resorts. Rome, Paris, and believe or not, Madrid, are also viable options, but the inclusion of a Greek city is particularly interesting in large part because it’s economic struggles is similar – or maybe even worse – than that of Spain.

And if you have a plan in place to offer thousands of employment opportunities on top of potential millions in revenue for the government, that’s seriously worth looking into, particularly if the carrot you’re dangling will have so many hands reaching for it.

In order to that, though, Adelson and LVS must navigate the complicated and oftentimes chaotic gambling infrastructure in Greece and find a common ground with Greek regulators who have been, in so many words, busy bustin’ on anybody’s chops. It’s a task that’s far easier said than done and should make for some comical headlines in the future, but such is the price one must pay for trying to enter the gambling industry in Greece nowadays.

LVS has experience in that regard, which should help it understand how the market works. After all, it was just seven years ago when it submitted a proposal to build a casino in Athens’s former international airport at Elliniko. But market experts who know a thing or two about the Greek market know that headaches will predictably rise anytime somebody wants to enter the market.

That’s a headache LVS is willing to incur if its serious about looking at Athens as an option. Based on its experience in Madrid, that should be par for the course for Adelson and his peeps.