Connect with us

World

Mega casino projects that failed in Spain

mm

Published

on

Beautiful casino megaprojects such as the Kingdom of Don Quixote, Gran Scala, and Eurovegas never saw the light of day in Spain. Barcelona World casino, on the other hand, supports a thread of hope that is becoming increasingly fragile. Why? There are no specific reasons for such fiasco, but there are some similar business strategies that could lead to bankruptcy. Another reason that may have affected the giants is a decline in interest among people to visit gambling establishments since online gambling clubs always at hand. For example, you can play top gambling games just by clicking on this link – www.casinonic.com/en-AU/games/top. Anyway, let’s take a look at each casino separately.

Best online gambling games
Kingdom of Don Quixote project in Ciudad Real

The Kingdom of Don Quixote project was presented in 2005. This casino was supposed to have an area of 10,000 square meters, a luxury hotel, a theater for 3,000 spectators, a golf course, 7,000 rooms, and 7,000 permanent jobs. For seasonal work should have involved 11,000 workers. This casino received funding from the gaming giant Caesars, which was supposed to operate the casino under the Harrah’s brand. That would be Las Vegas in Ciudad Real.

Negotiations are at an impasse and deadlines have not been met. On December 1, 2011, a meeting of shareholders declared bankruptcy. Caesars said it lost $ 27.1 million on this project.

The Don Quixote project has always been associated with another fiasco – Don Quixote Airport. The total debt amounted to 200 million euros. Sergio Alvarez, president of the Board of Shareholders, then told the local newspaper La Tribuna de Ciudad Real that his goal was to attract investors, seek funding and promote the project.

Gran Scala project between Zaragoza and Huesca

In December 2007, the government of Aragon introduced the Gran Scala project. The promotion company was International Leisure Development (ILD), which promised 32 casinos, seven theme parks, hotels for 25,000 guests, 250 stores, 26,000 direct jobs and nearly 65,000 seasonal. In total, investments amounted to 17,000 million euros.

The place chosen for the development of the Grand Scale project was the Monegros Desert, located between Zaragoza and Huesca. To implement this project, 4,000 hectares of land was needed.

Due to such a large amount of land, plots were acquired from private individuals. The conditions were as follows: owners received from 4 to 10% advance payment. If the investor did not pay the balance until February 2012, then the land was returned to the owners. And so, it happened. International Leisure Development did not pay the balance and the project itself remained only on paper.

Eurovegas Project in Madrid

In 2010, Las Vegas Sands began to be interested in opening a mega-casino complex in Europe. The owner of this company is billionaire Sheldon Adelson. The location of the future casino was considered either in Barcelona or in Madrid. Adelson said that it was Spain that was most suitable for hosting his “Gambling Eden”. He planned investment of 18 million euros. 250,000 thousand permanent and seasonal jobs, 12 hotels and restaurants with the ability to serve 50,000 people, several golf courses and 6 casinos with a large area.

Two years later, it was decided that the casino will be located in the capital of Spain. Three options were considered: Paracuellos del Jarama, Valdecarros and Alcorcon. The latter was chosen as the location.

Everything seemed to go smoothly, but delays, changes in the initial numbers, and requests for changes in laws began to appear. So, until 2013, after the resignation of Esperance Aguirre, the project fell apart.

So why these megaprojects closed?

The main groups opposed to the implementation of casino megaprojects were left-wing parties, environmental associations, and organizations against gambling. And the arguments are as follows:

  • Environmental Impact: This is a model that is contrary to sustainable development.
  • Gambling-based economic specialization.
  • Increase negative values.
  • The emergence of a marginal environment: drugs, mafia, and prostitution.
  • Low skilled labor.
  • Changes in laws: projects required changes in the law to meet the interests of the investor. For example, the government of Aragon approved the law on recreation centers of large capacity. For Eurovegas, it was necessary to amend the Tobacco Act, and in the case of Barcelona Word, a tax reduction was approved.

The idea of Bigtime Daily landed this engineer cum journalist from a multi-national company to the digital avenue. Matthew brought life to this idea and rendered all that was necessary to create an interactive and attractive platform for the readers. Apart from managing the platform, he also contributes his expertise in business niche.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

World

Bringing clean water – Christopher Kenny’s Preservation Earth Project

mm

Published

on

Science plainly shows that a human can survive three weeks without food, yet most individuals cannot survive three to four days without water! Dehydration sets in, and the person will go into shock and become vegetative even if they continue to breathe. In other words, water is an essential requirement. A living thing cannot thrive without it. Nonetheless, it is a horrifying truth that billions of people worldwide lack access to safe drinking water. 

In developed countries, when everything from technology to luxury is available, receiving clean water at home is as ‘natural’ as breathing fresh air. Most individuals in advanced nations may not pay much attention to it, but this is not the case for the rest of the globe. Many countries continue to lack access to clean water sources or water appropriate for human use. Safe drinking water, sanitation, and hygiene at home should not be limited to the wealthy or those who live in cities. These are some of the most fundamental human health requirements, and all countries must ensure everyone has access to them.

The Preservation Earth Project (PEP) made its way to Tsaile, New Mexico. Over time, uranium mining, fracking, and pesticide abuse damaged the water supply, resulting in a high occurrence of numerous illnesses. Approximately 35% of the Navajo people do not have access to flowing water, and some must go to a remote location to fill barrels with water from a polluted local spring. 

There is no doubt that climate change is boosting storm strength. Recent natural catastrophes have heightened the need for groups to step up and give support, answers, and relief to individuals affected by such natural disasters. The Preservation Earth Project is a non-profit organization that provides support, education, and solutions to help society transition from fossil fuels to renewable energy.

A look back at Christoper Kenny’s life

Chris Kenny was born in Summit, New Jersey, on May 4, 1961. He was one of twelve children. In 1980, he received a B.A. in economics and finance from Warren Wilson College in Swannanoa, North Carolina. He also attended New York University, earning a commercial real estate management degree from the Schack Institute. Since 2018, he has served as the head of Strategy and E-trading at Hartfield, Titus, and Donnelly. Kenny started his career in the U.S. In 1985. He worked as a Treasury Bond Broker. He formerly worked at Bonds.com as the director of fixed income sales and technological development. His academic background is in business and finance. Chris is passionate about developing and promoting renewable energy, mainly when it is used to assist people in need. The potential to aid those in urgent demand as a result of a human-caused environmental or natural disaster is not just a philanthropic act but also a once-in-a-lifetime educational opportunity.

He used solar power on mobile platforms as a backup power source for emergencies, water purification, and water pumping.

His academic credentials are in business and finance. Chris is passionate about developing and promoting renewable energy, mainly when it is used to assist people in need. The potential to aid those in urgent need as a result of a human-caused environmental or natural disaster is not just a philanthropic act but also a once-in-a-lifetime educational opportunity. He has over 38 years of experience in finance as a salesperson, broker, trader, and investor.

Making clean water available to everyone

In 2012, Kenny founded The Preservation Earth Project, a 501(c)(3) non-profit organization. It provides assistance, education, and alternative energy solutions to help society shift to renewable energy. It was involved and aided Haiti several times after the 2010 earthquake, providing portable solar electricity for water purification and medical facilities. In 2020, the business devised a solution for the Navajos’ contaminated water source. They collaborated with engineers and local officials to build, produce, and install a solar-powered water filtration system for the Navajo people of Tsaile, New Mexico. Other activities have included providing portable solar power to the “Cajun Navy” for rescue and clean-up in areas devastated by the 2015-2021 hurricane season in Louisiana. 

The project designed, delivered, and installed a solar-powered filtration system that will provide clean drinking water to the local Navajo community 365 days a year for many years to come. Several more initiatives are in the works to provide safe drinking water to Native American communities on the Navajo Reservation.

President’s letters of gratitude

President Jimmy Carter sent Chris two heartfelt letters encouraging him to continue his charitable work. He suggested calling Habitat for Humanity and asking if they were interested in collaborating on a few projects. He and Kenny both helped out at the charity. 

Continue Reading

Trending