No one wants a flyer on Cosmo resort in Las Vegas

Mar 17, 2009 4:03 PM
Gaming Insider by Phil Hevener |

Hilton Hotels will probably not have anything to do with the unfinished Cosmopolitan, that Las Vegas Strip resort with the great location but a design and game plan that has not impressed anybody.

Hilton’s interest in the Cosmo was discussed here months ago, but Cosmo owner Deutsche Bank had great expectations for the property that neither Hilton nor the numerous other potential operators who have taken thanks-but-no-thank-you looks at the Cosmo seem to share.

The most recent Hilton plan was to introduce its new Denizen brand at what the world currently knows as the Cosmopolitan, which is wedged into an 8.5 acre site between the Bellagio and CityCenter. But the bosses at Deutsche reportedly balked at the use of the unknown Denizen brand at this location.

MGM Mirage recently said no thanks to a Deutsche effort to have the company take over the Cosmo in return for, among other things, the money that would have helped complete CityCenter.

"We could have gotten better terms (on the financing) at the Money Tree," an MGM insider sniffed. But with potential buyers scouting troubled resort projects like buzzards floating across the sky in search of a meal, this kind of trash talking may only mean another offer is in the works.