Even though the Spanish authorities dismissed the idea for the construction of casino resort outside the capital Madrid, the Cordish Companies are sill coaxing Madrid to give green light to the plan.
The main idea of the project is to build a casino and hotel resort, which is supposed to have an entertaining purpose. According to the plan, this resort should be one of the most attractive in Europe. It will include all types of entertainments and luxuries. If the project meets the approval of the authorities, it is said to be one of the biggest foreign investment in the country for the last couple of years.
The project, though, met some difficulties, being dismissed by the Spanish authorities at first. David Cordish, Chairman and Chief executive of the Cordish companies, is trying to convince the opponents of the plan that it will be in favor of the economy of the city, bringing major revenue taxes to the government. To make the project even more enticing, Cordish accentuated on the leisure aspect of the project, explaining that the gaming will take a minimum percentage of the area. As an additional advantage, the project will create many job opportunities and thus reduce the unemployment rate.
Despite all the positive sides of the project, the Madrid regional government rejected it. Its reason was that this undertaking is not of vital importance to the economy of the capital. What is more is that funds will be spent on the construction of new roads, which is not part of the plan of the government. Cordish, on the other hand, is not giving up on the idea and even promised to fund every detail of the project, including infrastructure and all the other details.
Influenced by his proposal, the local authorities engaged in reconsidering their decision, but they made it also clear that the requirements of such immense gambling project will be very high. And it could not be any other way, since the government is allowed to issue a gaming license once in ten years.
Despite the initial disapproval of the project, this time it is expected to have better chances to be accepted. One of the reasons might be the fact that the Cordish Companies are associated closely with Donald Trump, the current President of US and also a former casino-owner.
The proponents of the project see a good opportunity for the further development of the Spanish capital, attracting many new tourists. According to the promises of Cordish, the hotel and casino center is expected to have mainly entertaining purposes. The whole project is estimated to cost around €2.2 billion, but all things point out that Cordish is ready to invest as much as needed to establish the leisure center.
