- Deutsche Bank (DB -1.3%) closes the book on a painful episode, agreeing to sell Cosmopolitan in Las Vegas to Blackstone (BX -2.5%) for $1.73B in cash. The bank became the proud owner of the resort in 2008 after foreclosing on developer Bruce Eichner, and has tried to make a go of it ever since (all the while having a For Sale sign up). It's never turned a profit and Deutsche's investment in the property sums to $4B.
- For Blackstone, the deal represents its first big gaming investment.
From other sites
at CNBC.com (Mar 27, 2015)
at CNBC.com (Mar 25, 2015)
at CNBC.com (Mar 23, 2015)
at CNBC.com (Mar 18, 2015)
at CNBC.com (Mar 17, 2015)
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