Cosmopolitan’s new owners seek to reverse unprofitability

Rumor no more, the Cosmopolitan of Las Vegas has been sold. The south-Strip resort was purchased by Blackstone Real Estate Partners for $1.73 billion, well under the $3.9 billion seller Deutsche Bank spent to complete the Cosmopolitan after assuming ownership in 2008. Despite being home to some of the city’s best restaurants and considered to be among the trendiest resorts on the Strip, the Cosmo has experienced problems attracting gamblers, which has led to unprofitability to date. In an effort to boost casino results, it’s expected that Blackstone, a relative newcomer to the casino business, will bring in an experienced casino operator to run the resort.

Big poker: The World Series of Poker got off to a roaring start last week, with the $1.5K buy-in "Millionaire Maker" tournament drawing 7,977 players, easily beating last year’s 6,343. It was the second-largest field in WSOP history, behind only the 2006 Main Event, which had 8,773. The winner was Jonathan Dimmig, whose first-place prize was $1.3 million from the $10.7 million prize pool.

Heat is on: The year’s first heat watch, which led to several cooling stations being set up around the valley, was issued last week in response to temperatures that topped 105 degrees.

It figures to be the first of many that will dot the calendar throughout the Vegas summer.

Additions at The Linq: The restaurant, bar and "night market" complex F.A.M.E and the Tilted Kilt party bar have debuted at The Linq. All of the high-profile tenants have now opened in the pedestrian alleyway at center-Strip.

QUESTION: Is the World Cup a big deal in the sports books?

ANSWER: It is this year. Several casinos are going all out for the world’s biggest sporting event. All of the books will show the games, and parties and drink specials will run in venues like Lagasse’s Stadium at Palazzo, the Golden Gate downtown and the Crown & Anchor Pubs on both sides of the Strip.

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