The dream that never ceases. A new EuroVegas is being studied in Madrid
Baltimore-based North American real estate development and entertainment company Cordish Companies has returned to the charge with the failed EuroVegas dream. According to information leaked to the press, Cordish would have presented a plan for the development in the Community of Madrid of a hotel and casino complex that would be being studied by the Popular Party government. It so happens that Cordish had already presented a similar project in 2016 that was rejected by the then president of the Community Cristina Cifuentes.
It is said that Ancha is Castile. Although not as wide as the state of Nevada, the center of the peninsula has been the scene of mega real estate dreams that have come to naught. The last of these is located in the Community of Madrid and hopes to revive the ill-fated EuroVegas. An integrated resort with spectacular casinos. ©esudroff/Pixabay
From EuroVegas to Live! Resorts Madrid
While the Hard Rock Entertainment World complex in the towns of Vila-seca and Salou (Tarragona) still in deadlock , and the information that arrives does not give much room for a prompt resolution of the conflict, a new entertainment and gaming real estate megaproject it looms on the horizon. This time in the Community of Madrid, thus reviving the dreams (and fears) of the failed EuroVegas of the ill-fated Sheldon Adelson that he intended to turn Alcorcón into the European Vegas.
The American company Cordish Companies is the one behind the new EuroVegas that could be carried out on the land the company already has in New Zealand , specifically in the Madrid town of Torres de la Alameda. It so happens that Cordish had already presented a very similar project in 2016, Live! Resorts Madrid , which was rejected by the then president of the Community of Madrid Cristina Cifuentes.
Advised by a Spanish law firm, Cordish's New Zealand managers are optimistic . The liberal profile of the Popular Party government in Madrid seems more receptive today than in the past to a proposal of such magnitude. The Cordish plan would already be in the hands of the councilor for the economy of the Community and a trusted person of President Isabel Díaz Ayuso, Javier Fernández-Lasquetty, who would be seriously studying the project.
The Community of Madrid has neither confirmed nor denied the news . In the municipality of Torres de la Alameda governed by the PSOE, very close to Alcalá de Henares, where the land for the megaproject is located, they do not know anything about the matter.
Cordish Live!
Live! it is the reference brand of Cordish when it comes to entertainment, casinos and hotels. The company owns several such integrated resorts: Texas Live! , Kansas City Live! , Casino & Hotel Maryland Live! , Casino & Hotel Philadelphia Live! , Bally Sports Live! , among others, that they move more than 50 million visitors annually . Live! Madrid it would be the company's first foray into our country.
Even though Live! Resorts Madrid will come to nothing back in 2016, Cordish continues to maintain the active page on its website, where the project is described as a multimillion-dollar mixed-use plan with hotels, restaurants, entertainment, venues for special events and conventions, theater, offices and, of course, gambling. Basically, a miniature Las Vegas. That is the dream that never ceases.
But all the facilities will have as their central core the entertainment space where gambling will be the protagonists with, for sure, hundreds of slot machines and as many tables. It seems that it will be the casino that will contribute the majority of the income. The model of the bigger the better he triumphs in the global entertainment metropolises Las Vegas and Macau. If the Islamic world was excited about gambling, surely we would already have mixed resorts in Abu Dhabi or Dubai.
How viable is a project of this magnitude?
The environmental cost is important, especially considering the scarcity of water . A mixed resort of such dimensions would impose an additional burden on the neighboring municipalities. The promise of generate 56,000 jobs it is very attractive and, from Cordish, they know that it can become a good argument for the municipal and Community elections that are held next year .
This is a move that carries risks, but it explains why precisely now Cordish puts the project of Live! Madrid on the table. If the government of the Community of Madrid decides to support it, it could be an additional boost to the unquestionable political dominance that the Popular Party exercises over the city councils and the Community of Madrid. The promise of economic development always finds an echo.
However, a complex of such magnitude you might also encounter a lot of detractors , especially among the neighboring communities of the neighboring villages. We have seen it on other occasions. And it is that today the brick economy it no longer finds so many stalwarts although it remains one of the engines of global investment.
