Sands pulls plug on Spain

Eurovegas is off

• Las Vegas Sands (LVS) decides to pull the plug on its $30B casino project planned for outside of Madrid.
• The company has continually clashed with local and national politicians over the plans for the 6 casinos and 12 hotels which were to be part of Eurovegas.
• Execs say new opportunities in Asia will be explored instead of investing in the massive casino complex in Spain.

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Investors likely to applaud Las Vegas Sands' white flag in Spain

• Shares of Las Vegas Sands (LVS) are on watch after Sheldon Adelson gives up on his vision of a $30B casino complex in Spain.
• Plenty of investors have been clamoring for Las Vegas Sands to stick to its strength of producing impressive returns in Asia and avoid the land of +25% unemployment.
• LVS +1.0% premarket.