Skip to Content

Header Banner – BBIN

Tag Archives: Cosmopolitan

US – Cosmopolitan continues turnaround with second quarter of profit

The Cosmopolitan of Las Vegas has reported a second consecutive quarter of profit, turning around a loss from a year ago. Now owned by Nevada Property 1 LLC a subsidiary of New York-based Blackstone Group, who bought the property for $1.73bn, The Cosmopolitan generated revenues of $4.7m, for its third quarter ending September 30, reversing…

US – Cosmopolitan brings Clique to Las Vegas

The Cosmopolitan of Las Vegas and newly-formed Clique Hospitality, founded by Andy Masi, have partnered to bring Clique, a new avant-garde lounge concept, to the resort this winter. Located in the heart of The Cosmopolitan, the ultra hip and swanky cocktail lounge will add another dimension to the resort’s dynamic bar collection. Clique will serve…

US – Cosmopolitan halves its losses in first quarter

The Cosmopolitan of Las Vegas marked its first full quarter of ownership Blackstone Group with revenues of $189.8m, up 3.8 per cent from the same quarter one year ago. Casino revenue increased by 19 per cent from 2014 to $58.4m with table games hold percentage increasing from 13.6 percent in 2014 to 15.2 per cent…

US – Blackstone approved for Cosmopolitan takeover

The Nevada Gaming Control Board has approved Blackstone Group, a private equity investment fund, to be licensed to buy Cosmopolitan Casino in Las Vegas. Blackstone said in May it wanted to purchase the Cosmopolitan from Germany-based Deutsche Bank for US$ 1.73bn. The company’s joint owner Tyler Henritze said: “We think there is a lot of…

US – Cosmopolitans all round as GGR lifts by 67.7 per cent

Nevada Property 1LLC, the owner of the Cosmopolitan of Las Vegas, has announced that its second quarter revenue was US$200m, up about 17 per cent from $171m in the second quarter of 2013. The casino reported year-over-year increases in casino, hotel, entertainment and food and beverage revenues with gaming revenue increasing by nearly 70 per…

US – Crown lines up $2bn Cosmopolitan bid

Australian operator Crown Resorts is reportedly preparing a US$2bn bid for the three-year-old Cosmopolitan of Las Vegas, which is currently owned by Deutsche Bank. Crown, owned by James Packer, will make a formal expression of interest for the Strip property. Deutsche Bank, Germany’s biggest bank, is believed to have attracted at least four possible bidders….

US – Cosmopolitan on path to proving the doubters wrong

When the US$3.9bn Cosmopolitan opened in December 2010 during the height of the global downturn and amid a series of lawsuits, bankruptcies and bailouts, many analysts were circling the property like vultures, convinced it would fail. However as it approaches its second birthday, the property has employed 40 members of staff to work on its gaming…