MGM Resorts

Blackstone enjoys lucrative asset trade by offloading Cosmopolitan to MGM Resorts

Blackstone enjoys lucrative asset trade by offloading Cosmopolitan to MGM Resorts

American investment management giant Blackstone Incorporated has reportedly signed a deal with MGM Resorts International to offload the Cosmopolitan of Las Vegas. Some reports pegged the value of the deal at a whopping $5.65 billion. The reported valuation of the deal is quite encouraging as it has nearly tripled the NYSE-listed investment management giant’s investment on the Las Vegas Strip venue in just around seven years.