VIE 29 DE MARZO DE 2024 - 03:15hs.
WITH MORE ECONOMIC SUPPORT

Cordish presents new proposal for its Live! Resorts Madrid

After the rejection of the first file, the US-based company reinforces the economic and cultural guarantees for the Live! Resorts Madrid proyect, which will even have a free artificial beach.

The US-based firm The Cordish Companies presented yesterday a new study of organizational, economic, technical and environmental feasibility to the Government of the Community of Madrid after the Executive rejected its first project to build a macrocomplex of leisure with casino in the Madrid town of Torres de Alameda.

In this new document, Cordish seeks to resolve the main reluctance and uncertainties that the Community of Madrid may have with respect to the project and that in the first attempt prompted the Ministry of Economy to refuse to grant the Integrated Development Center (CID) license to Cordish.

In order to solve this problems, David Cordish, president of the company, has added to the documentation a signed letter in which he is committed to invest the 2.200 million euros that he promised. The letter is also signed by the CEO of the Spanish subsidiary of The Cordish Companies, Global Cities Madrid Live SA, Joseph Weinberg. Cordish also includes several financial letters from banks such as M & T Bank or Credit Suisse in the new file with which it seeks to obtain the CID license to facilitate the financing of this macrocomplex leisure.

In the new dossier, Cordish also shows that the central area of the complex, whose investment would be 600 million euros, has that multidisciplinary character that the Community of Madrid required for the first project.

In addition to a casino, there are plans for hotels, sports, cultural facilities (including a theater or exhibition halls), restaurants and even a free artificial beach that the company has included in the project as a novelty.

Source: GMB