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The Chip Board Archive 23

Cosmopolitan LV sold

Deutsche Bank sold Cosmopolitan LV to Blackstone Group (a large private-equity firm) for $1.73 billion.
Of course, they had sunk almost $4 billion in it, including the original loans made before taking it over.
(Much of the difference would have been written off previously, so their carry-value was probably about the same as sales price, IMO.)

Will we see new chips eventually? My guess is no. The bigger properties don't seem to change racks with ownership changes anymore.
Lots of potential to improve on the current boring rack chip design, though I've seen worse designs recently. sad


Image from Chip Guide

News article is here:
http://www.reviewjournal.com/business/casinos-gaming/cosmopolitan-las-vegas-sold-blackstone-group-173-billion

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Cosmopolitan LV sold
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