The casino resort will be based on Greek mythology. Cora Global has already received approval from the Extremadura government, with construction on the first phase slated to start within the next six months with the aim of 2023 opening for phase one. The second phase is expected to open by 2028.
According to Spanish daily Cinco Días, the company has already submitted documentation together with the necessary guarantee of 10 million euros to the Extremadura government.
In the documentation received by the press, the company mentions a master’s license for 20 casinos, but that number has grown by another 13 taking the total to 33. However this is a precautionary measure only in case of any planning problems on the site further down the line and the number of casinos will be limited.
“The group wanted to play it safe since the terms and conditions states how many will be able to open,” a spokesperson for the company said.
According to Cora Alpha for now only a maximum of four casinos are now being considered but the new documents submitted to the board allows for more casinos if there is a need to expand later. The company spokesperson told Cinco Días that more licenses are being requested “but not with the intention of creating a Vegas city, but because of a matter of bureaucratic efficiency . . .”
Earlier this month former Disney Vice President John Cora, now owner of Cora Global, held a press conference with Extremadura President Guillermo Fernández Vara to outline that the project, if approved, would occupy a 1,200-hectare site in the town of Castilblanco.
Phase one of Elysium City will boast an 18-hole golf course, a football stadium with capacity for 40,000 spectators, a three- and a five-star hotels, a casino, a small marina, an adventure water park, and a theme park, among other amenities. It will create around 15,000 new jobs. Phase two will see more hotels, residential towers, floating islands, a larger marina, a convention center and the Formula One track.
Source: GMB / G3 Newswire
