Recommended online casinos

kewlj
kewlj
kewlj
  • Threads: 216
  • Posts: 4635
Joined: Apr 17, 2012
May 15th, 2014 at 1:21:01 PM permalink
According to today's Las Vegas Sun, Deutsche Bank has sold Cosmo to Blackstone Real estate Partners for 1.7 billion dollars. Blackstone's primary business is buying undervalued properties and then reselling them, although they do own a minority interest in Caesar's Entertainment. It seems unclear who will be running Cosmo or what the long-term plans are.
beachbumbabs
beachbumbabs
beachbumbabs
  • Threads: 101
  • Posts: 14268
Joined: May 21, 2013
May 15th, 2014 at 2:27:43 PM permalink
Quote: kewlj

According to today's Las Vegas Sun, Deutsche Bank has sold Cosmo to Blackstone Real estate Partners for 1.7 billion dollars. Blackstone's primary business is buying undervalued properties and then reselling them, although they do own a minority interest in Caesar's Entertainment. It seems unclear who will be running Cosmo or what the long-term plans are.



Awww, geez. I was really hoping to pick that property up. I must have a couple billion lying around somewhere...(honey, check the couch cushions, willya?)

Seriously, I hate that a turnaround team bought it; it's pretty great the way it is. But thanks for the report.
If the House lost every hand, they wouldn't deal the game.
Tomspur
Tomspur
Tomspur
  • Threads: 28
  • Posts: 2019
Joined: Jul 12, 2013
May 15th, 2014 at 3:33:40 PM permalink
Well Blackstone owns about 30% of the Valley's homes, I guess it is the logical next step that they spread their wings and get into casinos?

I would love to know who they will get to run the place as the current team is not working out, especially the casino management team. If they put this place under the CET umbrella, I'm going to be VERY pissed!!!

Such a great property with good potential will be just ruined for me :(
“There is something about the outside of a horse that is good for the inside of a man.” - Winston Churchill
Ibeatyouraces
Ibeatyouraces
Ibeatyouraces
  • Threads: 68
  • Posts: 11933
Joined: Jan 12, 2010
May 15th, 2014 at 3:35:32 PM permalink
deleted
DUHHIIIIIIIII HEARD THAT!
kewlj
kewlj
kewlj
  • Threads: 216
  • Posts: 4635
Joined: Apr 17, 2012
May 15th, 2014 at 3:45:10 PM permalink
Quote: Tomspur

Well Blackstone owns about 30% of the Valley's homes, I guess it is the logical next step that they spread their wings and get into casinos?

I would love to know who they will get to run the place as the current team is not working out, especially the casino management team. If they put this place under the CET umbrella, I'm going to be VERY pissed!!!

Such a great property with good potential will be just ruined for me :(



This is pretty much what I was thinking as well. Purchasing for 1.7 billion doesn't seem to fit the 'buying below value and reselling for profit' mold.
Nareed
Nareed
Nareed
  • Threads: 373
  • Posts: 11413
Joined: Nov 11, 2009
May 15th, 2014 at 3:47:21 PM permalink
I wonder if we need a third thread on this topic:

https://wizardofvegas.com/forum/las-vegas-casinos/cosmopolitan/18224-cosmo-sold/#post360038

Probably not ;)
Donald Trump is a fucking criminal
Tomspur
Tomspur
Tomspur
  • Threads: 28
  • Posts: 2019
Joined: Jul 12, 2013
May 15th, 2014 at 3:48:08 PM permalink
Quote: kewlj

This is pretty much what I was thinking as well. Purchasing for 1.7 billion doesn't seem to fit the 'buying below value and reselling for profit' mold.



Yeah, my concern is that Caesars has managed to rope in another "sucker" investor (even though they already own a portion of the mother lode, I mean company) to buy a property which they can try and turn their fortunes around with. They have a large players club with a hug database and they will try and perhaps build out this property?

Blackstone can't be that stupid can they?
“There is something about the outside of a horse that is good for the inside of a man.” - Winston Churchill
Tomspur
Tomspur
Tomspur
  • Threads: 28
  • Posts: 2019
Joined: Jul 12, 2013
May 15th, 2014 at 3:49:21 PM permalink
Quote: Nareed

I wonder if we need a third threa don this topic:

https://wizardofvegas.com/forum/las-vegas-casinos/cosmopolitan/18224-cosmo-sold/#post360038

Probably not ;)



I like this thread better.......just semantics really :)
“There is something about the outside of a horse that is good for the inside of a man.” - Winston Churchill
kewlj
kewlj
kewlj
  • Threads: 216
  • Posts: 4635
Joined: Apr 17, 2012
May 15th, 2014 at 3:53:12 PM permalink
Quote: Tomspur

I like this thread better.......just semantics really :)



My apologies. I didn't see the other thread.
Tomspur
Tomspur
Tomspur
  • Threads: 28
  • Posts: 2019
Joined: Jul 12, 2013
May 15th, 2014 at 4:21:53 PM permalink
Quote: kewlj

My apologies. I didn't see the other thread.



Neither did I.

Personally I think this one will do just fine :)
“There is something about the outside of a horse that is good for the inside of a man.” - Winston Churchill
Nostron
Nostron
Nostron
  • Threads: 6
  • Posts: 140
Joined: Jan 7, 2013
May 21st, 2014 at 8:12:21 AM permalink
I hate to hear this - we met a couple of great hosts on our last trip and they treated us better our first time there than any of the other properties have done in my 10 years of going.

Damn
Boz
Boz
Boz
  • Threads: 155
  • Posts: 5701
Joined: Sep 22, 2011
May 21st, 2014 at 8:53:24 AM permalink
Quote: Tomspur

Well Blackstone owns about 30% of the Valley's homes, I guess it is the logical next step that they spread their wings and get into casinos?

I would love to know who they will get to run the place as the current team is not working out, especially the casino management team. If they put this place under the CET umbrella, I'm going to be VERY pissed!!!

Such a great property with good potential will be just ruined for me :(



The current casino management team seemed to learn from the CZR team when it comes to 6/5 BJ and $7.50 Coin in for 1 point at Video Poker.
RSS Feed
  • Jump to: