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Las Vegas Sands Said to Drop $35 Billion Spanish Casino Proposal

Las Vegas Sands Corp., the casino operator controlled by billionaire Sheldon Adelson, will drop plans to build a $35 billion mega-resort in Spain, according to a person close to the company.

Las Vegas Sands said in February it had chosen Alcorcon, a suburb of Madrid, as the site for what would have been Europe’s largest resort. The project was to be carried out in phases over 10 to 12 years, according to the company. At completion, it would have included 12 casino resorts with 36,000 rooms.