Cosmopolitan of Las Vegas

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A design-led luxury resort, casino, dining, nightlife, and entertainment destination on the Las Vegas Strip.

Last updated October 18, 2026

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Overview

Cosmopolitan of Las Vegas is a luxury resort and casino located on the Las Vegas Strip in Paradise, Nevada. Commonly called The Cosmopolitan or The Cosmo, it combines hotel accommodation, casino gaming, restaurants, bars, pools, nightlife, retail, and live entertainment in a vertically organized urban-style resort. Unlike many Las Vegas properties built around a strong historical or cinematic theme, the Cosmopolitan was designed with a contemporary, residential-influenced identity. Its visual character includes modern interiors, balconies on many guest rooms, art installations, and a layout intended to appeal to younger, affluent, and socially oriented visitors. The project was announced in 2004 by 3700 Associates, a development group associated with David Friedman, Ian Bruce Eichner, and Soros Fund Management. The original concept included a substantial condominium-hotel component and anticipated operation under Hyatt's Grand Hyatt brand. Construction began after a major excavation for underground parking, but the development encountered financing problems, redesigns, delays, and escalating costs. Deutsche Bank, which had financed the project, took control after the original developers defaulted and acquired the property through foreclosure in 2008. The condominium plan was largely abandoned, and the resort was completed as a conventional hotel and casino project. The Cosmopolitan opened on December 15, 2010, with an eventual inventory of 3,033 rooms across two towers, a casino of approximately 100,000 square feet, and a 3,200-seat theater. Its opening campaign used provocative and surreal imagery, helping the resort establish a distinctive profile during a period when the Las Vegas market was still recovering from the global financial crisis. Hotel rooms, restaurants, clubs, and pools performed strongly, but gaming initially lagged because many popular amenities were located away from the casino floor and the property's younger customer base showed comparatively less interest in gambling. Blackstone acquired the resort from Deutsche Bank in 2014 for $1.7 billion and invested heavily in the casino, food-and-beverage operations, entertainment, and other guest-facing areas. The improvements helped the property produce its first quarterly profit in 2015. Blackstone later pursued a sale after substantial capital improvements. In 2021, it agreed to separate the operating business from the real estate: MGM Resorts International acquired the resort operations, while a consortium including Blackstone's real-estate vehicle, Stonepeak, and the Cherng Family Trust acquired the real estate. The transactions closed on May 17, 2022. MGM operates the resort today, while the underlying property is held by the real-estate ownership group. The resort's brand scope includes upscale rooms and suites, casino gaming, multiple swimming-pool environments, restaurants and lounges, nightlife venues, retail, convention and event facilities, and concerts and other performances. Its brand positioning emphasizes contemporary luxury, design, food, music, nightlife, and a more independent, personality-driven alternative to traditional mega-resorts. The property also has a history of labor disputes, guest-ban controversies, litigation involving the canceled condominium component, a trademark dispute with Hearst, and a 2015 pool-deck fire.

History

Plans for the Cosmopolitan were first disclosed in April 2004. The project was developed by 3700 Associates, a joint venture involving former Las Vegas Sands executive David Friedman, real-estate developer Ian Bruce Eichner, and Soros Fund Management. The group acquired the future site, formerly associated with parking for the Jockey Club, and later revealed the Cosmopolitan name and a concept centered on hotel rooms, condo-hotel units, restaurants, and casino facilities. The initial development budget was far lower than the eventual cost, and the original schedule anticipated an opening in late 2007 or early 2008. Hyatt Hotels agreed in 2005 to operate the hotel and condominium units under the Grand Hyatt name. A groundbreaking ceremony took place in October 2005, while Deutsche Bank provided financing for the underground parking excavation. The site was relatively small for a Strip resort, encouraging a tall, vertically arranged design. Hotel-tower construction began in April 2007. The development became financially troubled during the global credit crisis. The developer defaulted on a large Deutsche Bank construction loan in early 2008, and efforts to secure additional financing or replacement partners failed. Deutsche Bank began foreclosure proceedings and took ownership in September 2008 after acquiring the project for nearly $1 billion. The bank considered several possible hotel and gaming partners, but ultimately decided to complete and operate the resort itself. The condominium plan was substantially reduced, construction was redesigned, and the project fell well behind schedule. By completion, total development cost had reached approximately $3.9 billion. The resort opened on December 15, 2010. Its opening event period included performances by Coldplay and Jay-Z, and its advertising used surreal, sexually suggestive imagery that generated both attention and criticism. The property received favorable attention for its rooms, restaurants, clubs, pools, and design. However, the casino initially underperformed relative to other amenities. The property's younger demographic gambled less, and the resort's restaurants, retail, and pools were concentrated on upper floors rather than distributed around the gaming area. A high-limit gaming area and other casino changes were later introduced. Deutsche Bank sold the resort to Blackstone in 2014. Blackstone renovated the casino floor and invested in restaurants, entertainment, and other facilities. The strategy improved gaming performance and helped the property achieve its first quarterly profit in 2015. Blackstone also reached a collective bargaining agreement with the Culinary Workers Union in 2015 after years of protests and negotiations. In 2021, Blackstone agreed to sell the operating business to MGM Resorts International and the real estate to an investment group involving Blackstone Real Estate Income Trust, Stonepeak Partners, and the Cherng Family Trust. The transactions closed in May 2022. MGM became the resort operator, while ownership of the property was separated from the operating company. The Cosmopolitan has also been associated with several disputes. Hearst brought a trademark-infringement action over the resort's use of the Cosmopolitan name, which was settled in 2010 and resulted in the fuller name Cosmopolitan of Las Vegas. Buyers of planned condominium units pursued litigation over construction delays, deposits, and cancellation of the condo component; most cases were resolved by 2012. The resort faced repeated Culinary Workers Union demonstrations before reaching a contract. It apologized after a 2011 incident involving the treatment of a transgender guest in a restroom, settled a defamation lawsuit brought by O. J. Simpson in 2021, and apologized to rapper Meek Mill after a 2019 dispute over access to the resort and its club. A 2015 pool-deck fire caused evacuations and smoke-inhalation injuries but did not result in a reported fatality.

2022
MGM becomes operator
[1]Cosmopolitan of Las Vegasen.wikipedia.org
MGM Resorts International acquired the operating business, while a separate consortium acquired the real estate.
2015
First quarterly profit under Blackstone
[1]Cosmopolitan of Las Vegasen.wikipedia.org
After casino and operating improvements, the resort recorded its first quarterly profit.
2014
Blackstone ownership begins
[1]Cosmopolitan of Las Vegasen.wikipedia.org
Blackstone completed its acquisition of the resort from Deutsche Bank.
2010
Resort opens
[1]Cosmopolitan of Las Vegasen.wikipedia.org
Cosmopolitan of Las Vegas opened on December 15 with hotel rooms, casino gaming, dining, nightlife, and entertainment.
2008
Deutsche Bank assumes ownership
[1]Cosmopolitan of Las Vegasen.wikipedia.org
Following financing defaults and foreclosure, Deutsche Bank took control of the unfinished resort.
2007
Hotel-tower construction begins
[1]Cosmopolitan of Las Vegasen.wikipedia.org
Construction of the hotel towers began after the underground parking excavation.
2005
Groundbreaking and Hyatt partnership
[1]Cosmopolitan of Las Vegasen.wikipedia.org
The project held its groundbreaking ceremony and announced a planned Hyatt Grand Hyatt operating relationship.
2004
Project announced
[1]Cosmopolitan of Las Vegasen.wikipedia.org
3700 Associates announced plans for a new resort and casino on the Las Vegas Strip.

Products and positioning

Contemporary luxury resort combining design, dining, nightlife, casino gaming, pools, and live entertainment.

Accommodation · 2010
Hotel rooms and suites
The resort provides 3,033 rooms across two towers. Its accommodation offering helped differentiate the property through contemporary design, upscale finishes, and balconies on many units, supporting a more residential and urban character than the enclosed room corridors common at older Strip resorts.
Gaming · 2010
Casino
The Cosmopolitan's casino covers approximately 100,000 square feet and offers table games, slot machines, and higher-limit gaming. Casino design and placement were later adjusted under Blackstone to improve gaming engagement after the resort's restaurants, pools, and nightlife initially attracted more attention than the gaming floor.
Food, beverage, and entertainment · 2010
Dining and nightlife
Restaurants, lounges, bars, clubs, and poolside venues are central to the Cosmopolitan proposition. The property became particularly known for its food-and-beverage and nightlife offer, which appealed to visitors seeking social and entertainment experiences in addition to casino gaming.
Live entertainment · 2010
Performance theater
The resort includes a theater with capacity for approximately 3,200 people. It supports concerts and other large-scale performances, complementing the property's clubs, lounges, pools, and event spaces.
Resort amenities · 2010
Pools
Multiple pool environments form a major part of the resort's leisure offer. The pool areas contributed to the property's reputation as a design-focused, lifestyle-oriented resort and were among the amenities that initially drew stronger customer interest than casino gaming.

Controversies

2019
Meek Mill access dispute
Rapper Meek Mill said the resort discriminated against him after he was denied access to a party at Marquee and allegedly other parts of the property. The resort said capacity restrictions applied, and later issued a public apology.
Source
2019
O.J. Simpson files defamation lawsuit involving Cosmopolitan of Las Vegas
O.J. Simpson filed a lawsuit against Nevada Property 1 LLC, the corporate owner of the Cosmopolitan of Las Vegas, alleging that unnamed employees defamed him by telling a celebrity news site he had been drunk, disruptive and unruly. The complaint states that parole officials ultimately determined that the Cosmopolitan's assertions against Simpson were false. These allegations are reported as claims made in the complaint.
Source
2015
Pool-deck fire
A fire in a pool cabana spread through artificial decorative vegetation, prompting evacuations and causing smoke inhalation injuries and water damage. Fire officials could not conclusively determine the cause.
Source
2013
Culinary Workers Union protests
The resort faced repeated demonstrations after workers voted to unionize but negotiations over a collective agreement progressed slowly. Protest actions included arrests after demonstrations that blocked traffic and later protests inside the resort.
Source
2011
Transgender guest restroom incident
A transgender guest alleged that security removed her from a women's restroom, photographed her, and threatened a lifetime ban. The resort apologized to the guest and the transgender community and said she was welcome to return; it also introduced staff-awareness training.
Source

2010Surrealist opening advertising
United States
Ahead of its opening, the Cosmopolitan used surreal and sexually suggestive advertising to present itself as a provocative, design-conscious alternative to conventional Las Vegas resorts.
Outcome. The campaign generated mixed reactions but created substantial publicity and helped establish the resort's distinctive identity.
Source

Brand decisions

2022
Separation of operations and real-estate ownershipM&A
Background
Blackstone sought to monetize the resort after investing substantially in improvements.
Action taken
MGM Resorts International acquired the operating business, while a consortium involving Blackstone Real Estate Income Trust, Stonepeak, and the Cherng Family Trust acquired the real estate.
Aftermath
MGM became the resort operator from May 17, 2022, while the property's real estate was held separately.
Combined transaction value. $5.6 billion (2022)
Source
2014
Blackstone acquisitionM&A
Background
Deutsche Bank had intended to sell the resort after completing the troubled development.
Action taken
Blackstone acquired the Cosmopolitan and became its owner.
Aftermath
Blackstone invested in the casino, restaurants, entertainment, and other facilities, with the resort reaching its first quarterly profit in 2015.
Acquisition price. $1.7 billion (2014)
Source
2010
Abandonment of the large condominium-hotel conceptStrategy
Background
The original project relied heavily on condo-hotel sales, but financing problems, delays, and changes in ownership made the planned condominium component impractical.
Action taken
The completed property opened primarily as a conventional hotel and casino, with only a limited number of condominium units remaining.
Aftermath
More than 400 buyers pursued litigation or refunds, and most related cases were resolved by 2012.
Source

Recent events

2022
MGM assumes resort operations[1]Cosmopolitan of Las Vegasen.wikipedia.org
M&A
The operations and real-estate transactions closed on May 17, 2022, separating MGM's operating role from ownership of the underlying property.
2021
MGM agrees to acquire Cosmopolitan operations[1]Cosmopolitan of Las Vegasen.wikipedia.org
M&A
MGM Resorts International agreed to acquire the operating business, while the resort's real estate was to be sold to a separate investment consortium.
2015
Pool-deck fire damages west tower[1]Cosmopolitan of Las Vegasen.wikipedia.org
Recall · Other
A two-alarm fire began in a pool cabana and spread across decorative artificial vegetation. Several floors were evacuated, two people were treated for smoke inhalation, and the pool reopened the following day with the affected area closed.
2014
Blackstone acquires the resort[1]Cosmopolitan of Las Vegasen.wikipedia.org
M&A
Blackstone purchased the Cosmopolitan from Deutsche Bank, beginning a program of casino, dining, and entertainment improvements.
2010
Cosmopolitan opens on the Las Vegas Strip[1]Cosmopolitan of Las Vegasen.wikipedia.org
Product launch
The resort opened on December 15, 2010, after extensive construction delays and redesigns.
2008
Deutsche Bank takes control of the development[1]Cosmopolitan of Las Vegasen.wikipedia.org
Other
After the original developer defaulted on construction financing, Deutsche Bank acquired the unfinished project through foreclosure and became its owner.
2004
Cosmopolitan project announced[1]Cosmopolitan of Las Vegasen.wikipedia.org
Other
A development group announced plans for a major resort project on the Las Vegas Strip, later named Cosmopolitan.

Sources6 sources

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