![]() MGM Rewards and Cosmopolitan’s Identity will still operate individually for the time being. This is one of the biggest changes and will take some time before The Cosmopolitan completely becomes an MGM Rewards property. ![]() The Cosmopolitan keeps its identity…for nowĬosmopolitan will still use its Identity Rewards loyalty program for now. That will change in time as MGM Resorts slowly integrates the new property into its portfolio.ĭuring meetings with the Nevada Gaming Control Board (NGCB) representatives for MGM Resorts said that some changes will happen quickly while others will take up to a year to implement. MGM Resorts will pay an initial annual rent of $200 million with escalators in the future.įor the time being The Cosmopolitan will continue to operate as most guests remember. The company has a 30-year lease to operate the casino. MGM Resorts does not own the land beneath The Cosmopolitan. MGM Resorts will slowly integrate The Cosmopolitan into its system which now operates the following Las Vegas casinos: MGM Resorts now owns the operations of The Cosmopolitan but the property isn’t entirely part of the family yet. We couldn’t be more excited to bring them into our portfolio of world-class operations”. The Cosmopolitan of Las Vegas has already established itself as one of the Strip’s premier resorts with an iconic brand, well-curated experiences and a loyal customer base. “This is a big moment for our company and for the Las Vegas Strip. MGM Resorts CEO and President Bill Hornbuckle said: ![]() ![]() The $1.625 billion deal was announced last year but it takes time for deals to finalize between final negotiations and regulatory approvals. This week, MGM Resorts International officially closed on its deal to purchase the operations of the Cosmopolitan of Las Vegas. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |