Cosmo up for sale

i always thought it would go to mlife

hope they have enough money to replace my scooter that was stolen from there

 

Just to expand...

Marriott is a management company. They manage hotels.

Though I believe they've sold all of their interest in owning hotels (from a close friend who works at the Marriott headquarters) they may own a small interest in some hotels (the one that comes to mind is the new Marriott Marquis that's being built in DC).

The Cosmopolitan belongs to the Marriott Autograph Collections which is for boutique hotels. These hotels don't bear the Marriott logo and you won't really see the presence of the Marriott name at the hotel. They are supposed to remain somewhat autonomous from Marriott. The affiliation has more to do with reservations and extending the hotel to the vast network of Marriott guests and Marriott rewards members.

This affiliation will most likely disappear through the sale. I'm sure the move to affiliate with Marriott was more of a move to initially open with a guest network already in place, rather than having to build a network with no rewards program/players/guests in place. That would obviously take them years to establish on their own.

Now that the Cosmo is already established, I would bet the relationship is no longer necessary. And, if a large gaming company bought them up, they have their own network of guests and players.

 

There were rumors some months back that Crown was buying Cosmo for some absurd price. Those proved to be false but maybe they stemmed from Crown being in legitimate discussions. Though they might be wary of Vegas after their big loss on Fontainebleau.

Haha, you should file an injunction to stop the sale until you get your scooter back.

 

How about Boyd? They lost the Stardust/Echelon when the economy tanked, they need to be back on the strip.

 

Yes Cosmo is/was fresh blood, but they've had money problems from the start. I'd love a new company to get into the strip, someone with some chops,to provide more competition for CET/MGM.

 

Terrible fit, but I heard Phil Ruffin was looking to buy another property in LV. Maybe he can buy the Mirage to free up MGM to buy the Cosmo.

edit - My countdown clock is under 24 hours. Woot!

 

Who's gonna want to drop any serious money in the casino now, when you don't know who's going to be operating it a year from now?

 

If Steve Wynn bought it, I guarantee he can make that place profitable. He would be next to his beloved Bellagio, which he would destroy with the Cosmo.

I hope Wynn or Genting buys it, but highly unlikely.

 

Word on the street is CET WANTS it. Something is entirely wrong in the world if they manage to get in on it. I would presume MGM wants it but again, can they afford it?

I do want Boyd back on the strip but I don't think they would want to spend that kind of money for a place right now, especially when it doesn't blend with their portfolio. They do need something more high end in Vegas but it's just not a good fit.

I wonder if Wynn could be interested in it. Perhaps it would help him out with his traditional customer if he had a place to divert his club traffic to.

I hope whoever gets it partners with someone with someone with old school casino experience as I have a hunch that it will go to a bank or private equity firm.

 

to me cet would be great becuase diamond and 7* would get comps at marquee.

im tired of spreading my play out all over.

 

MGM would be the natural buyer as the part developer of City Center. It would fit in well rather than compete with the Aria and Bellagio IMO.

No doubt CET WANTS it, as they always want high end properties which come up for sale. They proceed to dumb them down and cheapen them as they did most notably to CP and Rio. I doubt they can raise the financing for it given the insane debt load they already have.

Crown would be a logical buyer and would value a turnkey, already in operation hotel in this country. They have the money. They would bring big players in and probably make it work best. I would actually favor this to keep the competition going.

Steve Wynn likes to develop his own properties and IMO is going to do less, not more, in LV as his Macao operations are booming. He could bring in bigger play, though, and at this point Encore has the same business model as Cosmo so who knows.

I think the greatest likelihood is that a complete outsider buys it, makes some dramatic changes to casino marketing, and turns it profitable. Walking in with a $1.5B price tag rather than $3.9 will make that a whole lot easier.

 

The Cosmo now has VP at the Chandelier bar, besides the Bond, Stage, and Queue bars. Please no Steve Wynn!!

He already has two properties that will not comp a SINGLE drink at the VP bars, and I don't want the Cosmo to fall into his greedy paws. Keep that crap North Strip, not Mid strip, Please!!!!!!

 

That is one very, very player friendly thing Cosmo is doing--super premium drinks at the bar for 25 cent VP players.

 

I actually find this an interesting theory. Wasn't there rumors several years that MGM Resorts was looking to sell Mirage, I think for debt reasons. And that Ruffin was looking at it. Makes strategic sense as Mirage/TI were sister properties and Cosmo would fit right into MGM's luxury area, Bellagio, Aria. But seems like a lot of things to align properly for this to happen.

 

I would prefer MGM to take it than CET.

Wynn is in his own section. Cosmopolitan, though gorgeous, sleek and chic, does not have the Wynn genius. lol.

MGM, though they would also dumb it down and take some of the life/sparkle out of it, they wouldn't make it into a dive like CET would.

 

Get em while they last, for that is going to go away.

If MGM gets the property, I hope they keep one of the bars at the 25c level, like the Bellagio.

CET will waste the property with their cost cutting business structure.

As I said, no Steve Wynn, for he doesn't comp Bar VP players.

How about, none of the above?

 

For the love of God please don't let Ruffin buy it.

 

Ya'll want to start a Kickstarter campaign to buy it? haha

 

Someone call Mr. Cuban

 

Would anyone like to see the Maloofs give the casino/hotel business another try?