Connect to share and comment

Sheldon Adelson wants to bring Spain a touch of Las Vegas

Of course, he wants Spain to hedge his bet with tax breaks and major changes to its laws.

Sheldon adelson las vegas sands lawsuitEnlarge
US gaming tycoon Sheldon Adelson gestures during a press conference at the Marina Bay Sands complex in Singapore in 2010. Adelson's Las Vegas Sands is facing a Macau lawsuit worth $375 million, as of March 13, 2012. (ROSLAN RAHMAN/AFP/Getty Images)

What does Spain really need right now? A little bit of Las Vegas. 

US billionaire Sheldon Adelson wants to build a $35 billion mini-Las Vegas strip in Barcelona or Madrid, Reuters reported

Adelson, of course, is no stranger to the casino business. The controversial CEO of the Las Vegas Sands Corp. has been working diligently to spread a little bit of Las Vegas around the world in recent years and just opened a shiny new casino in Macau, otherwise known as "the Monte Carlo of the Orient."

Adelson's ex-partner on that project probably didn't show up for the opening celebration though. He's suing Adelson for $375 million and accusing the Las Vegas Sands of misconduct in its bid for its Macau casino license. 

More from GlobalPost: Las Vegas Sands faces $375 million lawsuit

In Spain, Adelson is thinking 12 resorts, six casinos, a concert hall and a few golf courses in a neatly designed package about half the size of the Las Vegas strip.

He sees it as something of a Las Vegas for the European market, Reuters said. And he's willing to bet the European economy will have picked up before it opens. Of course, he's pressuring Spain to hedge his bet. Adelson not only wants tax breaks for his project, he also wants some major changes to Spanish laws.

From Christian Science Monitor:  

Adelson’s company hasn’t made its case publicly and the aura of secrecy is raising even more suspicions. The company did not answer multiple requests for comment.

Spanish economists and politicians are skeptical Adelson can create the jobs and wealth he promises. But Christian Science Monitor said Madrid still looks pretty willing to give him what he wants in hopes the casino will help it work its way out of its worse recession in decades. 

More from GlobalPost: Should the EU give up on green energy

http://www.globalpost.com/dispatch/news/regions/europe/spain/120411/sheldon-adelson-casino-spain-las-vegas