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little river casino closedThe German banking giant was initially a creditor of Eichner, but ultimately took ownership of the venue, pouring billion into it.That investment didn’t pay off, as Deutsche Bank would sell the gaming property to Blackstone for .74 billion.Based on that price and the 0 million the private equity firm spent to enhance the venue, not only did Blackstone roughly triple its money on the property, selling Cosmopolitan represents Blackstone’s most profitable single asset trade to date, according to the Wall Street Journal.With BREIT getting a stake in the Cosmopolitan’s real estate assets, that Blackstone affiliate has interests in some of the most iconic Strip venues. Hundreds of casino resort workers and their supporters marched down the Las Vegas Strip Friday evening to say they’re ready to get back to work. The casino operator will sign a long-term net lease with that group.“Blackstone implemented significant operational changes and invested over 0 million into the property to renovate nearly 3,000 guest rooms, build 67 new rooms and suites, enhance the food and beverage offerings and dramatically improve the gaming amenities and common areas,” said the private equity company in a statement.The Cosmopolitan’s recent performance has been stronger than ever, exceeding pre-COVID levels in the second quarter of 2021,” according to the statement.Blackstone acquired Cosmopolitan for .74 billion from Deutsche Bank in 2014. roulette casino in parisThe union, which represents about 60,000 casino workers, said 21,000 have yet to be called back to work since being laid off more than 18 months ago. In March, Las Vegas Sands (NYSE:LVS) sold the Venetian Resort and Sands Expo and Convention Center on the Strip to Apollo and VICI Properties (NYSE:VICI) for .25 billion.Last month, Vseneca niagara casino king of the cageICI said it’s acquiring rival MGM Growth Properties (NYSE:MGP) for .2 billion in stock, creating the biggest casino landlord.As for the next Las Vegas gaming asset to be sold, it’s not immediately clear which one it will be or when a deal will commence. The transaction is slated to close in early 2022.Sweet Deal for BlackstoneReports of the integrated resort being for sale surfaced nearly two and a half years ago. free slots casino mega wins

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