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Las Vegas Sands said to withdraw proposal to build $35 billion Spanish mega-resort

13 December 2013

Bloomberg Businessweek is reporting today that Las Vegas Sands Corp., the casino operator controlled by billionaire Sheldon Adelson, will drop plans to build a $35 billion mega-resort in Spain, according to a person close to the company.

According to Bloomberg Businessweek, Adelson, who visited Madrid last month, sought assurances from Spanish officials that tax rates and other conditions wouldn’t change with future governments and also sought exceptions to Spain’s ban on cigarette smoking in public places and limits on Internet gambling in the country.

Bloomberg Businessweek states that Patricia Madrigal, a spokeswoman for Adelson's external public relations company in Spain, declined to comment, saying only that a statement would be made at 12 p.m. in Madrid.

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