SanchoPanza
SanchoPanza
Joined: May 10, 2010
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April 17th, 2019 at 7:19:54 PM permalink
Quote: 777

https://www.bizjournals.com/newyork/news/2019/04/17/blackstone-puts-thecosmopolitan-hotel-and-casino.html?ana=yahoo&yptr=yahoo

https://www.wsj.com/articles/blackstone-preparing-to-sell-las-vegas-strip-casino-and-luxury-hotel-11555510527

Who will be the new owner?

Whoever it is, here's hoping it appreciates good restaurants.
SiegfriedRoy
SiegfriedRoy
Joined: Sep 23, 2014
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April 17th, 2019 at 8:23:12 PM permalink
In the past, there's always been "rumors" that Mlife wanted the cosmopolitan, but couldn't find a way to afford it. This was years ago before the price hike. With figures like $4B, I doubt Mlife can afford it now.
MaxPen
MaxPen
Joined: Feb 4, 2015
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April 17th, 2019 at 9:21:08 PM permalink
Good luck getting that price. Sounds like 13 years of total revenue. Where is the growth to justify that going to come from?
MDawg
MDawg
Joined: Sep 27, 2018
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April 25th, 2019 at 9:27:09 PM permalink
"Last year it spent more than $1.7 billion on Hawaii real estate, and this month it took over the Courtyard by Marriott King Kamehamehaís Kona Beach Hotel."

Interesting, we just got back from a few weeks in Kailua-Kona . Drove by that Marriott most every day, had no idea it was now owned by Blackstone.


Assuming this happens and it's not just another sales rumor - Just hope Cosmo doesn't get swallowed up as another MGM property. Hope it retains independence.

https://www.reviewjournal.com/business/casinos-gaming/cosmopolitan-may-be-for-sale-on-las-vegas-strip-1643199/
"has retained two investment banks to explore the possible sale of the 3,000-room Strip resort." --- could be a while before they are done "exploring" doesn't sound definitive.

https://www.casino.org/news/possible-sale-of-the-cosmopolitan-could-be-billion-dollar-winning-bet-for-blackstone-group
"Now, Deutsche Bank has joined with PJT Partners ó itself an investment bank that spun off from Deutsche ó to work with Blackstone as it considers a possible sale, among other options."
"among other options" Hmm....


There were also rumors last year that the Hard Rock International (not the owner of the Hard Rock Vegas, which was already sold to Branson/Virgin) was buying the Cosmo
https://vitalvegas.com/cosmopolitan-sale-to-hard-rock-international/
"Update (11/15/18): Weíre hearing fresh intel about a Cosmopolitan sale to Hard Rock International, and from what weíve heard, the company plans to rebrand Cosmo as a Hard Rock. Multiple sources confirm Hard Rock International is deep into the purchase process and the sale is being described as a 'done deal.'"
Uhhh...I guess not! Was this VitalVegas even a legitimate article or just a spoof?

Plot thickens:
https://www.casinonewsdaily.com/2018/11/21/the-cosmopolitan-denies-hard-rock-purchase-rumor/
"There have been no discussions over the sale of The Cosmopolitan, the property says in a statement"
Last edited by: MDawg on Apr 25, 2019
I tell you itís wonderful to be here, man. I donít give a damn who wins or loses. Itís just wonderful to be here with you people. https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
MDawg
MDawg
Joined: Sep 27, 2018
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September 23rd, 2019 at 12:22:38 PM permalink
What's confusing, and interesting, is that at the same time that we read about rumors that Blackstone is trying to sell Cosmopolitan
https://www.reviewjournal.com/business/casinos-gaming/cosmopolitan-may-be-for-sale-on-las-vegas-strip-1643199/
to MGM,
"Others identified MGM Resorts International as a potential buyer [of the Cosmopolitan] because the property lies between two MGM developments, Bellagio and CityCenter."

there are rumors that MGM is trying to sell Bellagio and MGM Grand to Blackstone!
https://www.bloomberg.com/news/articles/2019-09-20/mgm-said-in-talks-to-sell-circus-circus-to-trump-partner-ruffin
"The company is in talks to sell two Las Vegas crown jewels, Bellagio and the MGM Grand, to Blackstone Group, Bloomberg News reported, citing people with knowledge of the matter. "
I tell you itís wonderful to be here, man. I donít give a damn who wins or loses. Itís just wonderful to be here with you people. https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
TigerWu
TigerWu
Joined: May 23, 2016
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September 23rd, 2019 at 12:50:04 PM permalink
Quote: MDawg


there are rumors that MGM is trying to sell Bellagio and MGM Grand to Blackstone!



It would be a sale and leaseback, so they would still maintain control of the properties.
MDawg
MDawg
Joined: Sep 27, 2018
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October 19th, 2019 at 1:43:05 PM permalink
Given that the sale/leaseback of Bellagio to Blackstone went through, I can't see Cosmopolitan being for sale...I mean, why buy with one hand sell with the other? I think the articles were about Cosmo EXPLORING THE POSSIBILITY of a sale, versus actually being for sale, and then also, Cosmo denied the for sale rumors.
I tell you itís wonderful to be here, man. I donít give a damn who wins or loses. Itís just wonderful to be here with you people. https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
DRich
DRich
Joined: Jul 6, 2012
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October 19th, 2019 at 6:28:59 PM permalink
Quote: MDawg

Given that the sale/leaseback of Bellagio to Blackstone went through, I can't see Cosmopolitan being for sale...I mean, why buy with one hand sell with the other? I think the articles were about Cosmo EXPLORING THE POSSIBILITY of a sale, versus actually being for sale, and then also, Cosmo denied the for sale rumors.



Everything is for sale if the right offer comes along.
Order from chaos

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