On the southwestern fringe of Madrid, across the A5 freeway and just past a McDonald’s, a Toyota dealer, and an unfinished shopping mall, is a wide, barren field spanning four square miles. From here one can see the “Cuatro Torres” in the distance—four glass-and-steel skyscrapers built on Madrid’s northern end during the last decade’s boom. Today one of them houses Bankia, Spain’s largest holder of real estate, which has been partially nationalized. To the south lie the postwar-era, brick and concrete apartment buildings of the working-class town of Alcorcón; beyond are the rolling hills of a regional park. It’s a view that visitors to Spain see only if they get lost, and yet the ambitions for it as an international tourist destination could not be greater. It’s here that American billionaire Sheldon Adelson, chairman and chief executive of Las Vegas Sands (LVSC), plans to build a massive integrated resort: six casinos, three golf courses, 17 theaters, a convention center, and 36,000 hotel rooms called—what else?—EuroVegas.

Source - http://www.businessweek.com