Blackstone Seeks Buyers for Cosmopolitan Hotel and Casino
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.