More details emerge on LVS Spain casino-resort plans

Sheldon Adelson, CEO of Las Vegas Sands Corp. revealed more details on Wednesday of the company’s planned “mini Las Vegas” in Spain.

Adelson said Las Vegas Sands Corp., Paradise, Nevada, is ready to spend US$35 billion on the Spanish complex. It’s location is set for either the Madrid or Barcelona urban areas. “We are looking at 12 integrated resorts, 3,000 rooms each. A mini Las Vegas, about half the size of the Las Vegas Strip in Spain for the European market,” Adelson told Reuters at the Wednesday opening of the Sands Cotai Central, located in Macau, China.

Adelson said the timeline for the project’s completion was five to 10 years, during which time he said he expects the European Union’s faltering economy to recover. As a whole the EU’s 27 countries are forecast by Eurostat to have no gross domestic product growth in 2012 and only 1.5% in 2013.