Blackstone Seeks Buyers for Cosmopolitan Hotel and Casino
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Blackstone Group, the global investment firm based in US, has explored strategic options for the Cosmopolitan hotel and casino in Las Vegas, including a possible sale of the strip property. The Cosmopolitan is a two-tower complex which cost more than $3.9 billion to build, opened in 2010.
Blackstone is working with Deutsche Bank AG and PJT Partners Inc. to solicit interest from potential buyers for the resort, which could fetch $4 billion or more. Blackstone acquired the hotel and casino for $1.73 billion in 2014 from Deutsche Bank, which gained ownership through a crisis-related loan default in 2008.
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