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Blackstone Preparing to Sell Las Vegas Strip Casino and Luxury Hotel

Wednesday, 17 April 2019 10:15 administrator
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Blackstone Group LP is exploring a sale of the Cosmopolitan hotel and casino, the rare instance of a major casino on the Las Vegas Strip coming to the market.

Deutsche Bank AG and PJT Partners Inc. have been retained to explore strategic alternatives for the property, including a sale, people familiar with the matter said. Blackstone, the New York-based investment firm, acquired the Cosmopolitan in 2014 for $1.7 billion, and it has sunk another $500 million into finishing and renovating the property.

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Read more https://www.wsj.com/articles/blackstone-preparing-to-sell-las-vegas-strip-casino-and-luxury-hotel-11555510527

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