Plans for a US$6bn EuroVegas-style gaming complex in Barcelona, Spain, are in doubt after the lead developer declined to exercise an option on the land.
Veremonte, the investment consortium behind BCN World, a proposed multi-casino and hotel destination that has attracted interest from Lawrence Ho among other industry heavyweights, has allowed its €380m option on the 500-hectare site to expire, citing a lack of key approvals from local and regional governments.
The government of Catalonia said it would shield the land from speculation so as not to endanger the project, a decision which could give Veremonte about 18 months to decide how to proceed. The government has not, however, indicated when or if the consortium’s plans for the complex would be approved.
As an alternative to Las Vegas Sands’ aborted $10bn EuroVegas in Madrid, BCN World envisions a cluster of six resort-scale casinos, luxury hotels, theme parks shopping malls, theatres, meeting and convention space, golf courses, a sports stadium and other attractions. Hard Rock International and Caesars Entertainment have joined Ho’s Melco International Development in announcing plans to participate.
