The resort said it paid its workers an “unprecedented” $ 27 million during a festive event that was packed with “climatic drum roll” and confetti when Cosmopolitan CEO Bill Macbeth announced it. The event marked the nearly decade-long ownership of the property of private equity firm Blackstone, which Between sellers
MGM Resorts International and a real estate firm.
Tyler Henrietta, head of strategic investment at Blackstone Real Estate, said in a statement: “We know that none of this would have been possible without the hard work and dedication of the amazing staff at the resort, and we recognize these partnerships. They are very excited. ”
A press release said that when the news broke, the theater was filled with “tears and applause”. Also, the bonus comes during a tough labor market where companies are trying to convince workers to look elsewhere.
Cosmopolitan, which opened in 2010, is one of the brightest, most luxurious resorts on the strip. It suffered a sharp financial crisis after its opening and was bought by Blackstone in 2014 for 1.7 billion to rebuild its more than 3,000 guest rooms, casino floors and public spaces with restaurants and bars. About ً 500 million was spent.
Cowed decided to offload the cosmopolitan after 19 epidemics. Upand the famous city of Nevada.
. The company announced last year that it was selling it for 5. 5.65 billion – it bought it for over 4 4 billion. MGM Resorts (MGM)
Paid 1. 1.6 billion to run his business, with the rest coming from real estate investment firms.
Cosmopolitan is not the only major casino and resort changing hands. MGM Resorts announced late last year that it was selling The Mirage to Hard Rock International. More than 1 1 billion
. The 32-year-old property, known for its erupting volcanoes, is elderly and MGM did not want to invest in it anymore.