GMA quoted in the Las Vegas Review Journal
Acquisition of The Cosmopolitan was shrewd move by MGM Resorts
by Richard N. Velotta
Shrewd move, MGM.
Last week, the largest employer on the Strip made the surprise announcement that it’s acquiring the operations of The Cosmopolitan of Las Vegas for $1.625 billion.
It’s part of a larger $5.65 billion real estate deal for Blackstone with a method in vogue in the gaming industry these days: A group of investors is buying the real estate beneath The Cosmopolitan, and MGM is getting the operations piece.
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