Baltimore-based property developer Cordish Companies is reportedly pitching plans to build a mega-casino in Madrid, Spain. This is despite the fact that Madrid authorities already rejected a previous project.
According to SBC News, the executive of Madrid is reviewing a proposal for an entertainment complex that would be called EuroVegas. It would have a multi-plex casino, dining and hotels.
Representing Cordish in Spain is the law firm Diaz Arias. Cordish owns 134 hectares (331 acres) and proposes a $21 million project that would, it says, create 56,000 jobs.
According to the law firm, “This type of project requires the approval of many ministries, such as the one in charge of the environment. We are cautious. The last time we were optimistic and things did not come to fruition. We need to be realistic.”
In 2016 Cordish proposed the Live! Resorts Madrid project, which the Community of Madrid reviewed for six months before rejecting it. At the time, the government said that nearby roads might be impacted by such a large project. It declared, “The Community of Madrid must preserve public interest and guarantee that existing infrastructures and services are not altered.”
The law firm told the local outlet La Información: “We have taken the experience of the previous project and we have taken into account all the things that were not liked last time. That’s why we have included some options in, for example, environmental matters.”
Cordish hopes to have the proposal ready in advance of the 2023 elections so that local politicians could use the economic boost of the project to their advantage during election campaigns.
