Super casino slots into spanish capital

As Spain's struggles to recover from the Euro crisis, many might describe its economy as risky, but now the country is taking a gamble - literally.

A new "super casino" will be built in Madrid. The location of the Las Vegas Sands EuroVegas development was announced last week after much debate between potential host cities Barcelona and Madrid.

But the Spanish capital beat its Catalan rival and will soon be the new home of four Casinos, 12 hotels, three golf courses and nine theatres.

"Barcelona is an outstanding tourism destination and choosing Madrid over Barcelona was not an easy selection," the firm Sheldon Adelson declared in an official statement.

The news arrives as Madrid property prices continue to slide, along with the rest of the country. The capital's real estate saw values dip by 11.8 per cent in July compared to 2011, according to Tinsa's index, leaving the affordable market open to a big boost for investors willing to place a bet.