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The Cosmopolitan's $3.9 Billion Problem (And How It Got Fixed) 😱 #lasvegas #money #vegas
A BANK built a casino. Lost $2.5 BILLION. Here's what happened. 2008: Deutsche Bank forecloses on Cosmopolitan (developer defaulted on $760M loan). Choice: Sell OR finish building. They chose finish (worst option). Spent $4B total. Opened Dec 2010 (3,000 rooms, 100K casino, Chandelier Bar, Marquee). Stunning. Packed. PROBLEM: Bank can't run ...
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