Home » VT News » Hyatt May Bring Bail Buckets to Sinking Cosmopolitan

Hyatt May Bring Bail Buckets to Sinking Cosmopolitan

By Chuckmonster on Thursday, 31st January 2008 1:13pm
  » filed under Las Vegas  comments: 0

   

The Wall Street Journal is reporting that a deal may be in the works between Cosmopolitan head cheese Ian Bruce Eichner, and two of his existing partners, that will bail our the almost hosed resort-in-construction out of foreclosure.

Global Hyatt Corporation - who have existing contracts to manage the hotel at the Cosmo - and Marathon Asset Management, a hedge fund, are close to doing a deal that will ensure the Cosmopolitan construction will continue.

Cosmopolitan is expected to open late 2009 at a cost of $3Billion dollars.



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