According to Joaquim Agut, CEO of Cirsa

Eurovegas ‘positive for Spanish casinos’

2012-07-12
Reading time 51 seg
(Spain).- Las Vegas Sands will reveal in September which of Spain's two largest cities, Barcelona or Madrid, it will choose for its massive EuroVegas casino and resort project. Sheldon Adelson’s proposed Eurovegas destination casino resort could create opportunities for Spanish regional casinos, according to Joaquim Agut, CEO of local operator Cirsa.

Rather than cannibalise Spain’s existing casino business, Agut told delegates at the World Gaming Executive Summit in Barcelona that the project could be a positive step for the business if it brings in a large number of tourists. It is not, he said, simply a project for Spain, but a project for the whole of Europe.

Walter Bugno, CEO of Spielo International, added that there is evidence elsewhere that in jurisdictions where there are major destination casino resorts, smaller regional properties continue to compete. There is “room for both,” he suggested.

It is said that Barcelona does not have much farmland left within its metropolitan area. However, Eurovegas project has gained an unexpected allied in the city: the director of the Catalonian Antifraud Office (OAC), Daniel de Alfonso.

The magistrate underlined yesterday the advantages of the leisure complex that American tycoon Sheldon Adelson could install in Catalonia – an “eternal investment” that will create employment “forever”- and minmized the risks, such as corruption, money laundering or prostitution.

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