Las Vegas Casino giant Las Vegas Sands Corporation has chosen Madrid for a multi-billion dollar gambling resort project which has been dubbed "Eurovegas" and will be Europe's biggest casino and conference center. On July 25 the corporation has officially registered plans to build a sprawling resort known as "Eurovegas" outside the Spanish capital Madrid.

The resort to be built on a 750-hectare site in the commuter town of Alcorcon some 15 kilometers south of Madrid. Initial investment in the resort, the first phase of which is due to be completed by 2017, will be US$ 7.9 billion and could create as many as 250 thousand jobs, a welcome boost for a country where more than one in four are out of work. The first stage of the project will includes four separate "resorts" with casino facilities attached and 12 hotels with 36 thousand hotel rooms. The final result will be a 72-storey hotel building including six casinos, a convention center, three golf courses, shopping malls, bars and restaurants. Apart this, plans also include a congress center and the largest leisure tourism center in Europe, including a stadium with capacity to hold 20 thousand spectators, 7 theatres with a total of 6 thousand seats.