Private 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]
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