American casino operator Cordish Gaming has submitted a revised proposal to build a massive integrated resort in Madrid after local officials rejected the company’s initial plan.
In late March, the regional government in Madrid informed Cordish of their serious doubts that the company’s proposal to build a €2.2b resort casino project on a parcel of land near Barajas airport was “viable from an economic and organizational point of view.” However, the officials told Cordish there was nothing preventing it filing a revised plan.
Last week, Cordish did just that, submitting a plan that adds a six-hectare (15 acres) artificial lagoon and beach to the project’s first phase. The lagoon will allow guests to windsurf, kayak, play beach volleyball and pick sand from their crotches for the rest of the day. Lagoon access would be free for resorts guests, but non-guests could access the water for a fee.
Part of the reason why the initial proposal was rejected was the lack of sports and cultural facilities included in the first phase of development. Those facilities are necessary for the project to be designated an Integrated Development Center (CID), a status that confers both tax advantages and flexibility in land usage.