Nevada gaming regulators granted final licensing approval for the Cosmopolitan of Las Vegas late this week. This action means the property's intended soft opening ( approximately 2000 rooms of the total 3000 planned) will proceed as planned on December 15, 2010. The Nevada Gaming Commission (the effectual Gods of Nevada ) took about an hour to grant final approval for the oft - delayed, tortuous $3.9 billion project ( see previous LVE article ).
Several members of the gaming commission commented regarding the property's revenue projection estimates, and inferred that they were "optimistic" and contained "lofty goals". After reviewing the history of this project (see below linked article), it's a testament to the strength of the company's fortitude and capital base ( partly motivated by investment debt and thereby forced to complete it) that they've survived to this point in the game during a tough economic climate. Congrats to them..and good luck Cosmo.
Cheers...
Charles Higgins
Comments
Makes me think it's time to go to Vegas again.
They really should receive some sort of persistence or perseverance award. I hope it turns out to be a HUGE success for the owners and the city.
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