Gambling in the USA

Blackstone Seeks Buyers for Cosmopolitan Hotel and Casino

Published

6 years ago

April 23, 2019

Niji Narayan

Blackstone Seeks Buyers for Cosmopolitan Hotel and Casino

Photo Source: bloomberg.com

Reading Time: < 1 minute

Blackstone Group, the global investment firm based in US, has explored strategic options for the Cosmopolitan hotel and casino in Las Vegas, including a possible sale of the strip property. The Cosmopolitan is a two-tower complex which cost more than $3.9 billion to build, opened in 2010.

Blackstone is working with Deutsche Bank AG and PJT Partners Inc. to solicit interest from potential buyers for the resort, which could fetch $4 billion or more. Blackstone acquired the hotel and casino for $1.73 billion in 2014 from Deutsche Bank, which gained ownership through a crisis-related loan default in 2008.

Related Topics:

Up Next

Spillemyndigheden Issues Warning on Marketing Bonus Offers

Don't Miss

FDJ Sets New Plans for CSR Efforts

Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.