News Update: Deutsche Bank's Cosmopolitan of Las Vegas hotel-casino new addition on Las Vegas Strip



Las Vegas can expect a new addition on the Las Vegas Strip. The AP reports that The Cosmopolitan of Las Vegas hotel-casino indicated that it has at least $890 million to support its plans to get its resort up and running this year. Owned by Deutsche Bank, the resort stated in a regulatory filing on Monday that it plans to allocate approximately “$625 million on construction and $265 million on furniture, fixtures and other equipment.” The hotel is expected to open the majority of rooms by December 15. The plan calls for close to 3,000 rooms. The AP reports that hotel officials say “the resort lost nearly $3 million during the second quarter.” The Cosmopolitan reported having $19.2 million in cash.

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