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Jackpot casino las vegas building11/24/2023 ![]() ![]() ![]() ‘‘It raises eyebrows and awareness that Las Vegas is back.’’įor years, investors shunned Las Vegas as it struggled in the aftermath of the housing bust and economic downturn, which sent the jobless rate to as high as 14.5 percent. The resort cost more than $3.9 billion to build and hasn’t turned a profit since opening in December, 2010.īlackstone’s purchase is ‘‘a big signal,’’ said Charles Moore, a property sales broker at CBRE Group in Las Vegas. The bank had foreclosed on the hotel and casino after developer Ian Bruce Eichner defaulted on a construction loan in 2008. ‘‘Over the past year we really got the blood pumping now, and things are moving fast.’’īlackstone, the world’s largest alternative-asset manager, agreed last month to buy the two-tower Cosmopolitan complex on the Las Vegas Strip from Deutsche Bank AG for $1.73 billion. Las Vegas ‘‘kind of went through this frozen period,’’ said John Matt Stater, research manager for brokerage Colliers International in the city. ![]()
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