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Cosmo on the market (again)

Discussion in 'Casino Industry & Development' started by serenasea, Sep 3, 2021.

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  1. serenasea

    serenasea Low-Roller

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    Last edited by a moderator: Sep 3, 2021
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  2. Sonya

    Sonya Queen of VMB

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    Spin up the rumor mill! I've already been seeing lots of chatter about all kinds of scenarios.

    Please, let's not act as if something has happened until we have confirmation it has, in fact!, happened. :)
     
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  3. Publius

    Publius Living the Dream

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    So we shouldn’t panic just yet then? Lol
     
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  4. wagon b0y

    wagon b0y High-Roller

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    Hope mgm buys it so I can get comped rooms.
     
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  5. Hyperfocal

    Hyperfocal VIP Whale

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    Maybe it can be turned into a youth hostel with half a dozen people per room.

    I'm joking.

    Best case would be Wynn buying it. It would be a great fit. Either Steve himself or the company he no longer has anything to do with.
     
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  6. HHFan

    HHFan VIP Whale

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    Personally, my fingers are crossed it goes to a REIT that’s disinterested in messing with the current operations.
     
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  7. SprintGravy

    SprintGravy Gravy Train Conductor

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    If it "must" go to an established casino group, Wynn would be the one I would hope so as well.

    But I like more competition on the Strip with multiple casino groups. Allows me to string together back to back comped room dates for longer trips
     
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  8. Sonya

    Sonya Queen of VMB

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    Oh, go ahead and panic all you'd like. Just please don't do it here. :poke:

    We will find out if and to whom it is sold and we can totally freak out about how this means the end of Cosmo as we know it then. :haha:
     
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  9. gr8whitenorth

    gr8whitenorth VIP Whale

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    Kicking the tires on pandemic recovery numbers? Not surprised really. Let's all keep a level head here......
     
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  10. irishdave

    irishdave VIP Whale

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    Sometimes it is....
     
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  11. Basil

    Basil VIP Whale

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    I assume Phil Ruffin’s going to buy and turn it into another Circus Circus

    :poke:

    Oh, sorry. You said DON’T cause a panic.
     
  12. Chuck2009x

    Chuck2009x VIP Whale

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    I don't think I'd like to see MGM take over the casino operations because my rotation on a trip is some combination of Cosmo-CET-MGM and it would throw off flexibility on how I arrange the stays, CET would always have to be in the middle due to no back-to-backing of MGM offers.

    The two Gold tier-based comp nights at Cosmo would probably go away, as would the 2x slot points multiplier and the 5% rebate on spend.

    I would probably end up making Platinum at MLife, but that ain't really worth much.
     
    Last edited: Sep 6, 2021
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  13. midliferetired

    midliferetired VIP Whale

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    How does this thing make money? It attracts young people so they don’t gamble much. There’s not much space for big conventions. The sports book isn’t much. I don’t think it makes any sense for the Wynn or anyone else to buy it.

    Answered my own question. Caesars will buy it (w/Vici).
     
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  14. AyDee

    AyDee is getting too old for this

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    :eek:wut? high min limits don't rake in the huge monies?

    https://pitchbook.com/news/articles/this-day-in-buyout-history-blackstone-bags-the-newest-jewel-in-las-vegas
    old (December 19, 2019) article but I guess Blackstone already did a leaseback deal w Bellagio?

    (from Bellagio Wiki : ) MGM Resorts International owned the Bellagio until 2019, when it sold the resort to The Blackstone Group for $4.25 billion. MGM continues to operate the property under a lease arrangement.

    IDK, it's all above my paygrade.:confused:

    :poke:I'd love to see what Eldo would do to it.:poke::kill:
    https://www.circalasvegas.com/resort/suites/#room5
     
  15. breanna61

    breanna61 Super Moderator

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    Have you been to Cosmo? The casino is always packed with people gambling. The restaurant collection is fabulous and brings in people staying elsewhere who then gamble. I’m 60 and there are plenty of people my age at Cosmo.
     
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  16. Legion

    Legion High-Roller

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    Cant really loose money when up charging 500% on liquor 300% on food and so on. Gambling income sadly is becoming less important to the casinos bottom line. Not good for us gamblers
     
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  17. pressitagain

    pressitagain VIP Whale

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    Of course it's up for sale. If they can make a profitable.....why not??
     
  18. Guy_

    Guy_ VIP Whale

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    Cosmo is a very nice Casino.
    Lots of activity and the rooms are amazing.
    The biggest problem for me is that it only has 1 casino... I know myself and many others like to bounce around in Vegas. (If I just wanted to go to a nice casino with a nice view I could go to a local casino)

    I am not sure who I would want to buy it but as it stands right now, I get free fountain view rooms there but never stay there for the reason I mentioned.
    If a chain with at least 2 other casinos bought it and merged the cards so they could be used at any casino that would probably steer me in that direction (I honestly believe it is the nicest casino on the strip)
     
  19. Travel Fanatic

    Travel Fanatic The Arbiter of Taste Caviar Kid

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    Well, there's nothing stopping you from bouncing around to other casinos. But if you're trying to concentrate your play with one company, then yeah its a problem. But really, there are only wo options on the Strip for that kind of bouncing.
     
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  20. luck.ofthe.draw

    luck.ofthe.draw VIP Whale

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    Hilarious. Cosmo has some of the most affordable food options anywhere on the Strip, let alone in a vacation resort. The restaurants are fantastic and not your cookie cutter burger, pizza, Food Network Star places.

    And they treat slot players very well. I'm not a High Roller and get plenty of good offers from them.

    And for those complaining about Cosmo being an independent? No one's forcing you to gamble there. As a resort with a good slot selection (apparently not for everyone), it's nice to have an independent property that's not Wynn or Venetian to play at. MGM, Caesars and others will gladly take your money. It's one hotel out of tens of hundreds out there, I'm sure you can find elsewhere to stay.
     
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