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Cosmo's new owners talk about their plans

Discussion in 'Casino Industry & Development' started by paperposter, May 29, 2014.

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  1. paperposter

    paperposter VIP Whale

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    Last edited by a moderator: May 29, 2014
  2. 44inarow

    44inarow VIP Whale

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    Quite possibly a contender for the most useless article under Robin Leach's byline, and that's saying something.
     
  3. UKFanatic

    UKFanatic The Arbiter of Taste Caviar Kid

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    No kidding. The headline got me excited that Blackstone may actually say something. That article says absolutely nothing. Blackstone thinks they will turn a profit. Really? You sure, Robin? It would actually be bigger news if Blackstone said we bought it, don't know what we were thinking, and expect to lose our shirts, lol
     
  4. paperposter

    paperposter VIP Whale

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    i found it interesting that they celebrated at drais not at marquee
     
  5. smartone

    smartone VIP Whale

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    I suspect the line about "increasing gaming there by 50%" would bring some enthusiasm from those here who lament the poor gaming conditions on the strip. The article lacks any specificity as to how they'll do it, but at least that's the area ripe for improvement.
     
  6. 44inarow

    44inarow VIP Whale

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    I thought about that, but according to the article, they have an ownership interest in Drai's (and supposedly The Cromwell directly, which may or may not be Leach sloppily referring to their CET investment), whereas Marquee is part of Tao Group/Strategic Hospitality/Whatever the Name of the Actual Entity Is. So I guess that makes sense.
     
  7. Kickin

    Kickin Flea

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    Not too surprising I guess but it sounds like they plan to drop the Marriott relationship and fold Cosmo into one of the programs of their existing portfolio companies...maybe Hilton Honors?
     
  8. paperposter

    paperposter VIP Whale

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    i undestand that point but cosmo get revenue from marquee and woudnt a big photo op and newspaper article of the new owners celebrating at there new hotel go over better than at there competition, not too smart in my opinion.

    t
     
  9. 44inarow

    44inarow VIP Whale

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    You know, I doubt this was intentional, but you could also spin this as them trying to show that they're not dependent on Marquee for the resort to be successful. What Cosmopolitan needs is a clientele that thinks of it as more than just "the hotel where Marquee is", and as much money as Marquee has been making, we all knew that it would only remain at the top until the new next big thing came along. But it doesn't look like they did much of a photo op (nor was there much press coverage of the post-closing celebration besides that Leach article), so I bet they figured it just didn't matter.

    And Kickin, I'd be shocked if they didn't roll it into Hilton. My guess is actually that they're planning to turn it into part of the "lifestyle" brand they keep talking about (what would have been Denizen, before the lawsuit, which Cosmopolitan was supposed to be the flagship of at one point). According to this WSJ article from December, Hilton's prohibition on entering the boutique/lifestyle segment just expired in January, which might explain the timing.
     
  10. Kickin

    Kickin Flea

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    Its just their deal closing celebration though, not really something that is supposed to be in the media. They haven't even received approval from the gaming board, even if there's no issue in them getting that they won't do anything public on the property until its official.
     
  11. paperposter

    paperposter VIP Whale

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    i also heard hilton would replace marriott eventualy
     
  12. aaisack

    aaisack High-Roller

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    I would like to see one of the strip casinos make a reasonable effort at improving their gaming for low and medium rollers instead of ripping out all the decent machines and downgrading their table games. I want to gamble on the strip, but it's hard to justify giving bad gaming a lot of action. Maybe Cosmo will make an effort? Not holding my breath though. To bad Boyd's strip project failed.
     
    First time staying at the Flamingo
  13. paperposter

    paperposter VIP Whale

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    cet just did, milf does
     
  14. Ruark

    Ruark Low-Roller

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    It said increase gaming REVENUE by 50%. Heaven knows what they're thinking....
     
  15. UKFanatic

    UKFanatic The Arbiter of Taste Caviar Kid

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    I haven't been there recently, but I think Riviera (from what I read) has the best Strip gambling rules for low and mid rollers
     
  16. dmr

    dmr Registered Abuser

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    What Aaisack said!
     
  17. keno60

    keno60 VIP Whale

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    Not for .25 VP players. I remember when they had .05 full pay not that long ago. :wave:
     
  18. UKFanatic

    UKFanatic The Arbiter of Taste Caviar Kid

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    Thanks! I was just thinking about what I've read regarding table rules. I wasn't even thinking about slots. When it comes to those, I'm lucky if I can even figure out where to put my card in :confused2:
     
  19. paperposter

    paperposter VIP Whale

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    rumor floating around is dan lee is set too take over the helm at the cosmo now that he left the palms when and if he no compete contract is over and final sale goes thru
     
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