Sheldon Adelson would be interested to build a casino in Rio de Janiero

Las Vegas Sands
15
05.2017
Sheldon Adelson would be interested to build a casino in Rio de Janiero
By Sophie Couard • Updated on 15/05/2017

The Las Vegas Sands group is currently seeing things on a grander scale, as they seem to be determined to build several huge land-based casinos in different parts of the world at the same time. They applied for a development in Japan and it seems that they are also interested to build in Rio de Janeiro. The CEO Sheldon Adelson is rumored to have presented a new development plan for the city that would have a budget of 8 billion dollars. You can find out more about this rumored proposal in the rest of this news article.

Casinos are still banned in Brazil

The proposal mentioned in the first paragraph is not a final decision. We only know for certain that Sheldon Adelson traveled to Rio de Janeiro to talk about tourism with the mayor of the city, Marcelo Crivella. Land-based casinos are still banned in Brazil for the time being, but there are two new bills currently under discussion that would change this situation. Because of this the planned proposals are still kept secret and developers are not talking much about it in public.

An 8 billion dollar complex

However, although there is not much mentioned officially, a rumor has made its way into the public. The rumor states that the businessman might have presented to the mayor an ambitious project to build a large establishment with a budget of $8 billion. To give the rumor even more credibility, Sheldon Adelson has always said he wants to invest in Brazil. He sees a market with a great opportunity and strong potential. The only downside is a lack of infrastructure, and it would be necessary that several 4 and 5-star hotels would have to be built as well.

Interested competitors

This rumor also gains credibility by the fact that other casino operators have shown an interest in the city, such as for example the American groups MGM Resorts, Caesars Entertainment and Red Rock Resorts. The Portuguese company Estoril del Sol and the Austrian company Casinos Austria have also already met with local officials.

 

In any case, the contenders may well influence the debates about the new laws and speed up decisions, but only the future will tell us when and if land-based casinos will be allowed in Brazil, and which casino operators will succeed with their casino proposals for Rio.

By Sophie Couard
By Sophie Couard - EDITOR

I am a great fan of gambling, I became a croupier to finance my studies. After my high school diploma in economic and social sciences , I obtained a bachelor's degree in economics and then a master in philosophy with a thesis on player behavior. After working in an online casino customer support, I became a writer on FeedBack Casino.