🖐 Deutsche Bank sells lossmaking Cosmopolitan casino for $bn - BBC News

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Rare Las Vegas Strip casino hits the market. The New York investment firm made the once-failing property one of the most successful on the Strip.


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Blackstone seeks to sell the Cosmopolitan of Las Vegas
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Deutsche Bank to Sell Cosmopolitan Casino to Blackstone - The New York Times
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Deutsche Bank has agreed to sell its Las Vegas casino resort, The Cosmopolitan​, to private equity group Blackstone for $bn, seeking to.


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Deutsche Bank has agreed to sell its Las Vegas casino resort, The Cosmopolitan​, to private equity group Blackstone for $bn, seeking to.


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The Cosmopolitan of Las Vegas is a luxury resort casino and hotel on the Las Vegas Strip in In May , the Cosmopolitan was sold by Deutsche Bank to Blackstone Group for $ billion. The July fire at the Cosmopolitan, seen​.


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Deutsche Bank spared no expense on the Cosmopolitan, whose casino floor is dominated by a three-story glass chandelier that encompasses.


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Deutsche Bank took over the , square-foot casino resort after the previous owner defaulted on a loan in The Cosmopolitan - which.


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Deutsche Bank took over the Cosmopolitan Hotel and Casino after it foreclosed on the Las Vegas resort's developer in Credit Monica.


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The investment company, which bought the hotel and casino for USD billion in , is working with Deutsche Bank AG and PJT Partners.


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Deutsche Bank sells the lossmaking Cosmopolitan of Las Vegas casino and resort to private equity giant Blackstone.


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The firm has owned a small piece of Caesars. But it had always made clear that the Cosmo — replete with a three-story crystal chandelier, luxury shops and the Western outpost of the New York club Marquee — was for sale. Deutsche Bank has held the Cosmo in a part of the bank designated for noncore operations, which it will sell over time. Correction: May 15, An earlier version of this article misstated when the sale of the Cosmopolitan was announced. See next articles. Earlier this year, the German firm was in talks with a number of prospective bidders, a person briefed on the matter said previously. It recruited a high-powered management team that included a senior executive from Caesars Entertainment to construct a luxury resort on a fraction of the land that rival casinos like the Bellagio own. It was one of many, as banks moved to take over troubled gambling properties at the onset of the financial crisis. The transaction also represents the first significant gambling investment by Blackstone, whose giant real estate arm already owns apartment complexes, office properties and shopping centers. The deal was announced on Thursday, not Tuesday.{/INSERTKEYS}{/PARAGRAPH} Deutsche Bank is finally leaving Las Vegas. {PARAGRAPH}{INSERTKEYS}Updated, a.