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Spain's Colossal Casino Project Dealt a Bad Hand
"Sheldon G. Adelson, the billionaire casino magnate, on Friday abandoned his plans to build a $30 billion gambling and leisure resort on the outskirts of Madrid after failing to win financial concessions and other favors from the Spanish government," report Raphael Minder and Landon Thomas Jr.
"The decision by Mr. Adelson’s company, Las Vegas Sands, to drop its EuroVegas resort project is an economic blow not just for Madrid but for Spain as a whole," they add. "The country has been pining for foreign investment to help revive its economy and cut its 26 percent unemployment rate."