clock menu more-arrow no yes mobile

Filed under:

Sales & Acquisitions

cosomopolital150v.jpgPrivate equity firm Blackstone Group (which has stakes in Hilton Worldwide and Busch Entertainment Corporation) has purchased the beleaguered Cosmopolitan of Las Vegas for $1.73 billion in cash. According to Eater Vegas, the three-year-old property "has never made a single dollar in profit" since its December 2010 debut; no word yet on how the sale will effect the resort's restaurant and nightlife component. [Eater Vegas]