Blackstone to offer Cosmopolitan in Las Vegas for $5 billion or more

Blackstone to offer Cosmopolitan in Las Vegas for $5 billion or more

Article brief provided by Bloomberg
  • Christopher Palmeri and Gillian Tan, Bloomberg
September 3, 2021 7:07 PM
  • Christopher Palmeri and Gillian Tan, Bloomberg

    Blackstone Inc. is again looking to the sell the Cosmopolitan of Las Vegas resort, this time at an asking price of $5 billion or more, according to people familiar with the matter.

    Apollo Global Management Inc. which has been acquiring gambling businesses around the world, is exploring an offer, some of the people said. Another potential partner, as property manager, is MGM Resorts International, one of the people said. Spokespeople for Blackstone, Apollo and MGM declined to comment.

    Blackstone, the New York-based investment firm, tried two years ago to find a buyer at $4 billion or more.