Local News


Cosmopolitan hotel-casino on Las Vegas Strip may be sold

Posted: 7:23 AM, Apr 18, 2019
Updated: 2019-04-18 10:23:57-04
Cosmopolitan begins charging for parking

LAS VEGAS (KTNV) — The Cosmopolitan hotel-casino on the Las Vegas Strip may be up for sale, according to Wall Street Journal .

WSJ says that the Blackstone Group has retained Deutsche Bank AG and PJT Partners to explore strategic alternatives for the property, including a possible sale.

Blackstone acquired the hotel-casino in 2014 for $1.7 billion and spent $500 million into finishing and renovating the property.

Real estate executives told the WSJ that the hotel-casino could sell for as much as $4 billion.