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by Michael J. Shapiro | September 12, 2012

The government for the Spanish region of Catalonia, home to the city of Barcelona, has signed a deal to develop a US$6.06 billion resort and theme park known as Barcelona World. The government announced the plan on Friday -- the same day Las Vegas Sands made public its selection of Madrid over Barcelona as the preferred location for its EuroVegas development. Together with the La Caixa bank and real-estate developer Veremonte, the government intends to build a complex of six theme parks, 12,000 hotel rooms spread across six hotels, and casinos, restaurants, theaters and office space in the city of Tarragona, which is southwest of Barcelona. The theme park complex, which will re-create the world regions of Brazil, China, Europe, India, Russia and the U.S., will open at the end of 2016.