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#Cosmopolitan of Las Vegas has been sold to #MGM Resorts International. When the deal closes in 2022 MGM will own the operations while other entities will own the land. The property sold for almost triple its 2014 sales price. In this special episode of MtM Vegas we’ll break down the sale including how it will change things, what is good and perhaps what we should be concerned about as fans of Las #Vegas.
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49 comments
I have an mlife mastercard for the free slot play and parking. Other than that mgm is pretty meh. As a Vegas fan and regular visitor, it's hard to get excited about this move.
To bad for the players ..
I’ll stop playing there sorry to say MGM will run it to the ground it will be the next Luxor
I’m an MLife player, but think that the Cosmopolitan is the nicest hotel on the strip and has the best gaming. My wife even name our dog Cosmo. I should be excited, but I’m worried that MLife will take away the uniqueness of the Cosmopolitan. The Cosmopolitan always has the latest video poker games and aren’t afraid to take a chance and change things up. The Bellagio has video poker games that aren’t much better than the oldest casinos on Fremont Street. I play MLife because I get the best comps there and I like jumping from casino to casino and still earn points under the same rewards system. I hope MLife keeps the same management team in place at the Cosmopolitan that’s already there. And even use them at their other casinos!
Thanks for the update, guys!
I have m life blue card
For those who could afford Cosmo, guess it was nice while it lasted.
I’m a Cosmo Identity person, I love the identity points program and am worried about this changing. Also the staff at Cosmo are amazing and I worry about them
This sucks!
i do Mlife and own a timeshare exchange. I am not wanting for a place to stay..As long as the Entertainment, Gaming and Dining is decent Las Vegas will be fine for me as a destination.
Wasn't MGMs plan to get out of operating the resorts and into running the gaming side?
This is not good for the property. I’m afraid they will let it go down the tubes like Aria.
I'll never stay in the hotel (unless they're forced to eliminate resort fees) so as long as MGM doesn't muck up the rest of the property, it's six of one, half a dozen of another to me.
Coke and Pepsi, Apple and Android, Uncle Sam is fine with duopolies.
When Howard Hughes owned most of the strip in the late 1960's (including KLAS-TV and a lot of land around the Valley) the Justice Department finally came in and stopped Howard when he tried to buy the Stardust. And that was one man owning most of the strip.
Even if 100% of the strip was owned by two entities I don't see any judicial activity in part because you still have Fremont as an option for consumers.
I've always stayed at the Mirage for 4 nights and Cosmo for 4 nights (with comps for both properties). But MGM has a rule that there must be 72 hours between staying at MGM properties using comps. I wonder if they'll modify that rule or do I have to stay at a competitors property? 🤔
The new owners – the Cherng Family Trust, headed by Panda Express billionaires Andrew and Peggy Cherng; real estate investment firm Stonepeak Partners; and a Blackstone real estate fund, Real Estate Income Trust Inc. – will pay more than $4 billion to acquire the property, Blackstone said Monday. MGM Resorts will pay $1.6 billion to take over the hotel's operations.
I bet there be panda Express restaurant 😅
OMG there goes the luxury!!!!!
Terrible news. Say what you want about Caesars rewards but at least at the diamond level you don’t pay resort fees. Mlife gold still pays resort fees 🤦🏻♂️
Mgm should buy the Jockey Club too along the Cosmo to take over that whole side.
So I'm band (trespassing) from mlife. Does that mean I can still go to cosmopolitan until the end of the year since mlife takes over next year?
I see MGM selling off Mandalay bay, luxor and Excalibur.
This seems to make total sense geographically as MGM has a monopoly on that side of the strip. They just added Boardwalk to go with Park Place (Bellagio).
Do you guys know about the hotel casino being built across from the winn? It’s supposed to be the shape of a moon.. look it up it’s on YouTube
I’m very happy for MGM resorts buying the cosmo. I love how they cater to all walks of life and just 1 bad experience doesn’t mean anything..
Its all positive, mgm will run it well.
Cosmo gave you their points for hotel stays, so it was the best for people who don’t gamble.
More of the same, corporate greed, more money for them ar the expense of the average customer, trying to squeeze the last dollar, and then they are gone. They don't Even own the properties anymore, they don't have anything yo keep them un Vegas once the money is gone, they are not forced to change for the better.
Mgm might ruin cosmo mojo i think!! but the comps are goin to be alot better as far as stays. Who knows we will have to wait and see only time will tell
Alright!! I have status in mlife and some in cosmo but not as much!
I see so many Mlife players happy over this purchase. To them I say if you wanted to stay at the Cosmopolitan why didn't you just play and stay there? As a low tier Identity member I expect to see my few comp offers dry up so they can attract Mlife big spenders. I also fully expect the bean counters to trash Cosmo's excellent comp drink service and to chase away the amazing staff. None of these things are good to me.
This is stupid as fuck I can’t believe this shit all my points. This used to feel exclusive 😡
Near decade long Platinum Identity member here – fully expect MGM to suck the life, energy & personality out of the property.
Would love to be proven wrong.
New owners include founders of Panda Express! Food Empire strikes again.
Nobody sells a money-maker
There's a reason downtown rocks!
This is absolutely the worst case scenario for Cosmopolitan players. I'm gold level with Cosmopolitan and pearl with m life. I get no where close to the offers with m life that I do for Cosmopolitan. Never pay resort fee with atleast 200 FP and resort credit with comp rooms at Cosmopolitan. All that m life gives is 2 nights 10FP 50 resort credit oh and by the way pay the resort fees on your FREE night, what a joke. It sucks to loose all that progress to a crappy company. I guess I will be moving on to Wynn, they are loose with the comps as well as TI and Venetian. Resort fees are optional at those properties on free nights!!
such a shame….. i hate the mgm properties…. the standalone and no affiliation with the duopoly was what made encore/wynn and cosmo such a good hotel
I hate this change. It will go downhill under MGM. Man this hurts.
I’m a Marriott associate and love that I can come stay once or twice a year at the cosmopolitan for a really good rate. I hope they continue to use our reservation system but highly unlikely
Man I loved the Cosmo… I hope it doesn't crash & burn
MGM is a quality play in this market. They are experts at marketing, watch what happens this Christmas. It will steam roll into next Summer, with a myriad of Offers.
Cosmo sucks. Only millennials like this place. Wasteful young spenders .
Las Vegas has not profited in over 15 years this is why they expandedto Dubai and Macau. The gambling is really not there (concertsvand dining) are really not profitable. This is why many are selling to the Indian reservation.
Absolutely sad about the changes!! Cosmopolitan is an absolutely beautiful property! I have an MLife membership as well and doesn't bode well for cosmopolitan players… hopefully they continue the Cosmopolitan way!?!
Secret pizza is gonna turn into a sbarro.
Well, that sucks.
Nothing good has ever been made from limitations in competition. What I think will happen is that the Strip will be a big uniform concrete playground for people who just want to gamble with a mask 😷 on. Where as the true innovation will move to other parts of the US 🇺🇸 and in some cases abroad.
Lv is just going to be a rich and famous play ground built on the back of the poor shmo wanting cheap hotels, cheap food and a good time. Chase the international market and screw the rest. Go figure! Thank god I will be dead soon.
This coulda been worst. Caesar could have acquired cosmo.
Hi Shawn and Mark! When I first heard about the purchase, I really didn't know how I felt about it. I am a big MGM MLife member and Fan! However, Too much of one thing is not good. We need diversity. The Cosmo IS that diversity that breaks up all of those MGM Resort properties. So…… I am not sure. I just think that we do not need yet another MGM Resort to blend in with the others. That Vibe that the Cosmo has is probably going to leave. CAB 🙁
It was not good, it was 'phenominal' while it lasted!