13 December 2025
It's official: the Las Vegas Sands company won't go forward with the EuroVegas project, an ambitious undertaking that was to take place in Madrid's outskirts.
According to Las Vegas Sand, the company has given up on the project to pursue new opportunies in Asia.
EUROPA PRESS stated that Mariano Rajoy's government has refused to agree with some demands made by the north-american company and, as such, Las Vegas Sands decided to give up on the project.
Some previous demands had to with the smoking ban in Madrid; the company wanted to allow its customers to smoke inside the buildings.
According to some press, Las Vegas Sands supposedly also made some last minute financial demands. The company's management wanted for the government to lower the casino taxes in place and, if there were any changes to the law, the spanish government would have to compensate EuroVega's owners. According to the government sources, this type of compensation was a violation of EU law.
The Las Vegas Sands group released the following press release, confirming the premature death of the EuroVegas undertaking.
"We have reiterated time and again that our internal development process would dictate the outcome of a proposed development in Spain. That process has been extremely thorough and while the government and many others have worked diligently on this effort, we do not see a path in which the criteria needed to move forward with this large-scale development can be reached. As a result we will no longer be pursuing this opportunity," said Las Vegas Sands Chairman and Chief Executive Officer Sheldon G. Adelson.
"We are thankful to the many people who have devoted time and energy in an attempt to bring this development to fruition. The government of Spain, specifically the Regional Government of Madrid, has continuously pursued this opportunity with the interests of the Spanish people in mind and they should be commended for their efforts," said Michael Leven, the company's president and chief operating officer.
"As chairman and CEO, my role is not only creating a vision for the company's future, it is also fulfilling it in a way that best represents the interests of our shareholders. Developing integrated resorts in Europe has been a vision of mine for years, but there is a time and place for everything and right now our focus is on encouraging Asian countries, like Japan and Korea, to dramatically enhance their tourism offering through the development of integrated resorts there".
