European Las Vegas to be built in Spain
( RIA Novosti ) - Europe's largest entertainment complex, second only to Las Vegas, is to be built in Spain Los Monegros desert, the Mundo newspaper said.
The city complex dubbed 'Gran Scala' will comprise 32 casinos, 70 hotels, over 200 restaurants, 500 shops, a race track, golf course and five theme parks.
Located on just over 2,000 hectares of land, half-way between Madrid and Barcelona, the site is set to become a major tourist destination, with some 25 million visitors, 80% of them foreigners, expected to visit the leisure complex a year in 2015, when the first construction phase is completed.
The construction, estimated to cost some 17 billion euros ($25 billion), will start in 2008 until 2023. Developers expect annual profits to reach around 1 billion euros ($ 1.5 billion).
Tourism is Spain's greatest source of income, which accounts for 12% of its national GDP.