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Adelson Ready To Make Spain The Next Big Gambling Market

Sheldon Adelson has long been a pioneer in the casino gambling industry, but it was not until he brought casinos to Macau that the world knew just how big of a leader Adelson was. Las Vegas Sands' move into Macau sparked a cultural revolution in the Chinese enclave.

While others were concerned that casinos in Macau may not work, Adelson poured billions of his own fortune into the idea of a Las Vegas in Macau. Several years and billions of dollars in revenue later, and Adelson is now considered to be one of the biggest gaming moguls of all-time.

After sustaining business in Macau, Adelson turned to Singapore, where again he built an empire. Others have followed Adelson into Macau and Singapore, but none have passed the Sands' CEO in terms of global vision. That can be seen easily in Adelson's latest endeavor.

Sands will be building a multi-billion dollar gaming resort in Spain. The country has been dealing with economic hardships for half a decade, and the promise of tens of thousands of jobs and hundreds of millions in tax revenue was too much for Spanish lawmakers to pass up.

On Friday, Sands made the move into Spain official when they announced that they had settled on a location for their resort. After much anticipation, Spanish residents learned that the casino would be built in Alcorcon.

The funding for such a massive resort has been a question on the minds of many, but that question was answered Friday. Sands announced that they had secured the funding for the new project, putting to rest talk that they might not come through with the funding.

"There should be no concern about this company's ability to have the financing and the money," said Sands' Michael Leven.

While the majority of Spanish residents are happy about the new gaming facility, there are those who are concerned about the safety surrounding the facility. Opponents of the resort believe that in addition to revenue and jobs, the casino will bring increased crime and addiction to the country.

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