A brief history on the Cosmo, it was built during the "go-go" years, for those of you familiar with Las Vegas. It is located between the Bellagio & City Center. The original builder went "belly-up". Deutsche Bank was holding the paper and instead of selling it off, they decided to hold and finish.
A soft opening is scheduled for December 15 with the grand opening over New Year's. I am excited about the opening because it will help create a bunch of new jobs, but on the other hand, it will be adding an additional 2,995 rooms to an already bloated market. How does a bank get into the casino business? It's not as hard as it sounds. They wait for a property to fail, foreclose on it, complete the project and then outsource the management. Basically, they were far to deep into the project to "mothball" it and decided it was a better course of action to complete.
It looks like one of the new "major players"on the strip is going to be a German Universal Bank. What? A bank running a casino. That sounds like an oxymoron to me:> Rob Astle
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