over/under on time before Cosmo is sold

I heard an estimate tonight of 9 months. After 9 months the "honeymoon period" will be over and the value of the resort will drop. in the next few months it will be the "celebrity hot spot" adding to its value. that too shall pass they say.

I think it will last longer. It's partnership with Marriott will help fill rooms, it is getting some decent publicity.

If the hotel starts to gain a reputation for the 20, 30 something age group it may survive.

It does seem to be different than Aria (which based on location) is it's main competition.
Really depends on their player comps and if they will try to keep people coming back with room discounts etc.
If they really start to push those first players (you know everyone will visit, get a players card) with offers and build a repeat customer base; then they will survive..

BUT: that room price has to drop - even my Marriott discounts are not that great going into April and May

Thanks Andrew. Here's a problem. You wrote: "If the hotel starts to gain a reputation for the 20, 30 something age group it may survive." Well, the hotel might survive but the casino won't. HET figured this out years ago -- the betting action comes from the older players. The young ones go to the clubs and go to the restaurants and they go to the bars -- but they are not the gamblers.

The 3 or 4 folks I know who've been can't say enough good things about it... gambling too.
Can't wait to visit/play and hopefully, get a comped invite for summer.

This one I believe they got right!!!

Most people are prediciting a tourist-led recovery in Vegas this year - and the recent room vacancy rates seem to support that. I would think the Cosmo rides the wave of recovery before selling at the top. I suspect they'll get a much better price a couple years from now.

I think it'll take a while too. Potential buyers will want see some sort of track record and that will take some time.

On the other side of the coin, I think Deutche Bank will want to sell as soon as they get an offer they can swallow. I'm pretty sure they don't really want to be in the casino biz.

Good Luck!
Ric at Joes

Me and my GF were talking about this the other night. We came up with a rough estimate of just over a year until it's sold. Most likely out of nowhere MGM,HET, or Phil Ruffin will have a deal in place to scoop it up.

prediction: Penn National will buy Cosmo within six months.

I agree the cosmo will be sold As soon as the Bank can find a buyer.

I do believe that this casino, hotel will do much better business than Aria and will be looked upon as a success 1 year from now.

As for the gambling side, they need to keep the gamblers coming back - if they lose us (i.e. we will be staying there for 4 days, and doing heavy slot action) after first visit - then back to MGM or Palazzo.

They need to offer good comps for those who gamble there for a few days - to get that loyalty - if not then I agree they will not have as much success.

Bank owned oh whoooo is me! These banks are to thank for everything being "fuched" up in vegas now!

Sure they have probably hired some knowledgeable folks to manage this. But, I predict they will do a good job of comps for the remainder of this year. Look out if it is not sold late this year as the "bean counters" will look to cut cost!


Banks operating business' outside their "expertise" are like the government running any damn program!