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Tag Archives: The Cosmopolitan

US – MGM buys Cosmopolitan operational rights from Blackstone for $1.625bn

MGM Resorts is buying the operations of The Cosmopolitan of Las Vegas from Blackstone for $1.625bn, subject to customary working capital adjustments. The purchase price represents a multiple of approximately eight times adjusted EBITDA, inclusive of expected operational synergies and identified revenue growth opportunities. Following the close of the transaction, MGM Resorts will enter into…

US – The Cosmopolitan of Las Vegas implements slot donation charity initiative

The Cosmopolitan of Las Vegas is debuting a charitable giving application now available on all ticket redemption machines on the resort’s casino floor. The Giving Module program, powered by EveriCares, allows guests to donate spare change to one of four pre-selected non-profit organisations when redeeming a slot ticket voucher on any of the casino’s 12…

US – Blackstone ready to test the market for Cosmopolitan sale

Blackstone Group is looking to sell the Cosmopolitan hotel and casino in Las Vegas, the first major Strip property that has been put up for sale in over a decade. The investment company is working with Deutsche Bank and PJT Partners to test the market’s interest in the property, which analysts believe could be worth…