Who Owns the Cosmopolitan Casino?

The Cosmopolitan of Las Vegas, also known simply as The Cosmopolitan, is a luxury resort casino on the Las Vegas Strip in Paradise, Nevada. Opened in 2010, the Cosmopolitan is owned and operated by Blackstone Group, Deutsche Bank AG, and CIM Group.

Ownership History

The Cosmopolitan was originally developed by Boyd Gaming Corporation and Morgan Stanley. Construction began in 2005, but was halted in 2008 due to the financial crisis. In 2010, Blackstone Group and Deutsche Bank AG purchased the property for $1.73 billion. CIM Group later joined the ownership group.

Current Ownership Structure

The Cosmopolitan is currently owned by the following entities:

• Blackstone Group: 69%
• Deutsche Bank AG: 26%
• CIM Group: 5%

Blackstone Group, a private equity firm, is the majority owner of the Cosmopolitan. Deutsche Bank AG, a German multinational investment bank, is the second-largest owner. CIM Group, a real estate investment and development firm, owns the remaining 5%.

Management

The Cosmopolitan is managed by Cosmopolitan Hotel & Resorts LLC. The company is led by Bill McBeath, who has been the President and CEO of the Cosmopolitan since its opening in 2010.

Financial Performance

The Cosmopolitan has been a financially successful property since its opening. In 2019, the resort generated $1.3 billion in revenue, making it one of the highest-grossing casinos on the Las Vegas Strip.

Table 1: Cosmopolitan Revenue (2015-2019)

Amenities

The Cosmopolitan offers a wide range of amenities, including:

• 2,995 hotel rooms and suites
• 150,000 square feet of casino space
• 3,200 slot machines
• 135 table games
• 30 restaurants and bars
• 5 nightclubs
• 3 swimming pools
• 40,000 square feet of spa and fitness facilities
• 30,000 square feet of meeting and event space

Awards and Recognition

The Cosmopolitan has received numerous awards and accolades, including:

• AAA Five Diamond Award (2010-present)
• Forbes Travel Guide Five-Star Award (2011-present)
• Condé Nast Traveler Readers' Choice Award (2011-present)
• Travel + Leisure World's Best Awards (2011-present)

Table 2: Cosmopolitan Awards and Recognition

Tips and Tricks for Visiting the Cosmopolitan

• Book your hotel room in advance. The Cosmopolitan is a popular destination, so it's important to book your room well in advance, especially if you're visiting during peak season.
• Take advantage of the resort's amenities. The Cosmopolitan offers a wide range of amenities, so take advantage of them! Enjoy the pools, spa, fitness center, and restaurants.
• Explore the casino. The Cosmopolitan's casino is one of the largest and most impressive on the Las Vegas Strip. With 3,200 slot machines and 135 table games, you're sure to find something to keep you entertained.
• Try one of the signature restaurants. The Cosmopolitan is home to some of the best restaurants in Las Vegas. From fine dining to casual eateries, there's something for everyone.
• Enjoy the nightlife. The Cosmopolitan has a vibrant nightlife scene, with five nightclubs and several bars. Whether you're looking to dance, listen to live music, or just relax with a drink, you'll find something to your liking.

Pros and Cons of Staying at the Cosmopolitan

Pros:

• Luxurious accommodations
• Wide range of amenities
• Excellent dining and nightlife options
• Convenient location on the Las Vegas Strip

Cons:

• High room rates
• Resort fees
• Crowds can be overwhelming
• Some amenities may have additional fees

Conclusion

The Cosmopolitan is one of the most luxurious and popular resorts on the Las Vegas Strip. Owned by Blackstone Group, Deutsche Bank AG, and CIM Group, the Cosmopolitan offers a wide range of amenities, award-winning restaurants, and a vibrant nightlife scene. Whether you're looking for a relaxing getaway or a night out on the town, the Cosmopolitan is the perfect destination.

Table 3: Cosmopolitan Pros and Cons

Call to Action:

Book your stay at the Cosmopolitan today and experience the best that Las Vegas has to offer!

Who Owns the Cosmopolitan Casino?

The Cosmopolitan of Las Vegas is a luxury resort casino on the Las Vegas Strip in Paradise, Nevada. It is owned by Blackstone Group, a global private equity firm.

History of the Cosmopolitan

The Cosmopolitan was built on the site of the former Dunes Hotel and Casino, which was demolished in 1993. The casino was developed by Ian Bruce Eichner and Jeffrey Soffer of the Sunstone Group. Construction began in 2005, and the Cosmopolitan opened in December 2010.

The Cosmopolitan was initially owned by a joint venture between Sunstone Group and Deutsche Bank. In 2014, Blackstone Group acquired Deutsche Bank's stake in the property for $1.6 billion. In 2016, Blackstone Group acquired Sunstone Group's stake for $1.7 billion.

Operations of the Cosmopolitan

The Cosmopolitan is a 2,250-room resort casino with a variety of amenities, including a casino, restaurants, nightclubs, and a spa. The property is also home to the Sahara Tower, an 87-story residential building.

The Cosmopolitan's casino has more than 3,000 slot machines and 150 table games. The resort also has a variety of restaurants, including Blue Ribbon Sushi Bar & Grill, Momofuku, and Estiatorio Milos. The Cosmopolitan's nightclubs include Marquee Nightclub & Dayclub and 1 OAK Nightclub.

The Cosmopolitan is a popular tourist destination and has been ranked as one of the best hotels in Las Vegas by Travel + Leisure and Condé Nast Traveler. The property has also been awarded the AAA Five Diamond and Forbes Five Star awards.

Ownership of the Cosmopolitan

The Cosmopolitan is owned by Blackstone Group. Blackstone is a global private equity firm that invests in a variety of asset classes, including real estate, private equity, and credit. Blackstone is one of the largest private equity firms in the world, with more than $700 billion in assets under management.

Blackstone's acquisition of the Cosmopolitan was part of its strategy to invest in luxury real estate in Las Vegas. Blackstone has also invested in other Las Vegas properties, including the Bellagio, the MGM Grand, and the Wynn Las Vegas.

Future of the Cosmopolitan

Blackstone has invested heavily in the Cosmopolitan since acquiring the property in 2016. The firm has renovated the property's rooms, restaurants, and public spaces. Blackstone has also added new amenities to the property, including a new pool deck and a new spa.

Blackstone is committed to the long-term success of the Cosmopolitan. The firm believes that the property is well-positioned to benefit from the continued growth of the Las Vegas tourism market.

Why Does Ownership Matter?

The ownership of the Cosmopolitan is important because it affects the property's operations and future plans. Blackstone is a long-term investor that is committed to the success of the Cosmopolitan. The firm is likely to continue to invest in the property and improve its amenities.

How Does Ownership Benefit the Cosmopolitan?

Blackstone's ownership of the Cosmopolitan has benefited the property in several ways:

• Blackstone has invested heavily in the property, which has led to improvements in the rooms, restaurants, and public spaces.
• Blackstone has added new amenities to the property, including a new pool deck and a new spa.
• Blackstone is committed to the long-term success of the Cosmopolitan, which provides stability and certainty for the property's future.

Common Mistakes to Avoid

There are a few common mistakes that people make when it comes to the ownership of the Cosmopolitan:

• Assuming that the Cosmopolitan is owned by a casino operator. The Cosmopolitan is actually owned by Blackstone, a global private equity firm.
• Thinking that the Cosmopolitan is a small property. The Cosmopolitan is actually a large resort casino with more than 2,250 rooms and a variety of amenities.
• Believing that the Cosmopolitan is only for high rollers. The Cosmopolitan offers a variety of room types and amenities to suit every budget.

Call to Action

If you are planning a trip to Las Vegas, be sure to consider the Cosmopolitan. The property is a great option for those who are looking for a luxury resort casino with a variety of amenities.

Tables

Table 1: Ownership of the Cosmopolitan

Table 2: Key Financial Data

Table 3: Room Rates