The Cosmopolitan of Las Vegas hotel-casino lost $54.3 million during the second quarter as its restaurants and nightlife continued to pull in more revenue than gambling and its hotel rooms.
The posh Las Vegas Strip resort owned by Deutsche Bank said in a regulatory filing Monday that it had more than $126 million in revenue, including just over $70 million in revenue from its restaurants and bars. Its 100,000-square-foot casino took in about $28 million in revenue.
The Cosmopolitan says it won slightly less than expected given the amount gamblers wagered during the resort’s second full quarter. Officials say the casino also plans to open a 15-table high-limit casino area in November.
The resort had nearly $46 million in room revenue with more than 91 percent occupancy.
Info on the Cosmopolitan development:
Deutsche Bank AG bought the hotel for $1 billion in 2008 and hired The Related Cos., developers of Time Warner Center in New York, to re-position the asset, manage the development process and assist in leasing the retail and restaurant collection.
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