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Casino Resort in Madrid Hopes to Help Region Financially

Posted: Oct. 18th, 2012  |  By Michael Pearse
Pocket Aces
Picture Alliance/DPA

Rather than lose all hope and rely on a government fire sale like what is happening in Greece right now, a casino resort planned for just outside Madrid is looking to build a significant cash flow for the money-starved Spanish economy. 

A casino complex outside of Madrid continues to raise a furor. Supporters say it attract rich tourists and create jobs. But critics say 'Eurovegas' won't solve the underlying problems of Spain's economic crisis.

Local Spanish politicians and US investors want to build a gambling complex they've dubbed "Eurovegas" in Alcorcon, about 13 kilometers (8 miles) from Madrid.

A gleaming and glittery mini-Las Vegas for Europe will, supporters have said, be like a money maker for the economically hard-hit region's government, residents and businesses - as well as for the foreign investors set to build it.

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