The Las Vegas Sands casino resort chain is looking to expand their presence worldwide by adding a casino in Spain and expanding upon a casino in Singapore. Though they held back on such projects in the height of the Great Recession, now that market conditions (with the exception of unemployment, debt and entitlements) have improved, they are pressing forward with their expansion plans for Europe and Asia.

In Spain, CEO Sheldon Adelson is in talks with the governments of Barcelona and Madrid about creating a Las Vegas-style casino strip. It would be a huge investment on their part, projected to cost €10 billion to €15 billion. Their plans call for a 20,000 room resort complete with a casino, shopping, and conference and exhibition space. The massive resort would be millions of square feet.

The Spanish government is likely to cooperate because few companies are willing to invest in the country right now, given their economic conditions. It’s a big risk for the Las Vegas Sands. If it works out, they could become one of the biggest businesses in all of Spain. However, with the debt and unemployment crisis (the jobless rate is over 20%), you wonder how much business a casino can bring in.

Adelson also plans to expand on his existing Las Vegas Sands casino in Singapore. Despite its location in an impoverished country, the casino generated $241.6 million in EBITDA (earnings before interest, taxes, depreciation and amortization) in the third quarter of 2010 and $306 million in the fourth quarter. The casino only opened in April of last year.

Tags: Las Vegas Sands, Las Vegas Sands Singapore, Las Vegas Sands Spain

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