Travel Daily

Vegas hotel bought


PROPERTY investment company Blackstone has made the decision to off-load its Cosmopolit­an of Las Vegas hotel to the Cherng Family Trust for US$5.65 billion.

The deal will see the 3,000room Vegas strip property operated by MGM Resorts Internatio­nal, which has payed US$1.6 billion of the price tag for its role in the venture.

The Cosmopolit­an includes a casino, the Marquee nightclub, restaurant­s and a fourth-floor swimming pool.

The final transactio­n is still dependent on regulatory approval and is projected to close in the first half of 2022.

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