Two huge casino projects are on the verge of development in Spain. Both could be completed within three years. Observers hope they will provide an economic boost by building on the 5 million visitors to Spanish casinos in both 2015 and 2016.
Hard Rock International is planning the $2.5 billion Hard Rock Entertainment World, an 8,000 square foot integrated resort project near Barcelona. The project will include a 500-room hotel, 75 shops and entertainment venue. The casino will be one of the largest in Europe with 1,200 electronic gaming machines and 100 gaming tables. Officials said the development will create thousands of jobs.
In Madrid, the Maryland-based Cordish Companies plans to build the $2.74 billion Live! Resorts, a 330-acre gambling and entertainment project. Officials said the development will create more than 50,000 jobs and attract 1.6 million international visitors annually.
Large-scale casino projects were in progress but failed due to the 2008 financial crisis. However, Cordish officials said their business model is sound. Madrid officials have rejected the plan twice, but Cordish plans to appeal.
