"I want to do a mini-Las Vegas ... I hope we could use the name 'Europe Vegas' or "Euro-Vegas' or something," Adelson said in Singapore, Britain's Daily Telegraph reported Friday.
The project Adelson envisions would cost as much as $25 billion to build. It would also support as many as 180,000 jobs, he said.
"We considered it seriously before the recession but we … postponed that till the recession was over. Now we are very actively pursuing it again," he said.
The resort would include 20,000 hotel rooms, as well as "millions of square feet" of commercial space, the newspaper said.
Municipal officials in Valencia and the Costa del Sol have indicated they would entertain the idea of becoming the home to the huge gambling center, Adelson said.