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