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What The Wall Street Journal Thinks Of Cosmopolitan

By Chuckmonster on Friday, 16th May 2014 10:10am
  » filed under Las Vegas  comments: 9

   

The Wall Street Journal wins all the newspapers this week with this stellar gem of a headline:

Read it!



Tagged: cosmopolitan   blackstone   deutsche bank   gaming biz   





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Comments & Discussion:

Ouch.

What good casino execs would be interested in going to Cosmo, and from what properties would they come?

This article complements the WSJ one.

http://finance.fortune.cnn.com/2014/05/16/blackstone-cosmopolitan-las-vegas/?source=yahoo_quote

What's the consensus on John Unwin's performance at Cosmo? Was it too big a job for him, or is it too big a job for anyone?

The Fortune piece is incredible reading, easily the best of the Blackstone/Cosmo post mortem. Their analysis is cogent, conjectures are compelling and arguments make sense.

Asserting that Unwin, McCartney et. al. are inefficient managers who could be easily replaced from ranks of local executives was a reminder that the local Vegas media is basically an ass kissing machine. You'd never hear any degree of criticism of any operator, ever in the local media.

The theory that Blackstone would expand Cosmopolitan's brand inside the Hilton family (as opposed to rebranding Cosmopolitan a Hilton, Waldorf or Conrad) was a revelation. They've got a lot of options and the Hilton rolodex to draw upon too.

Expanding the Cosmo(politan) brand is certainly an interesting idea, given MGM/Hakkasan's similar, if unrealized, idea.

Detroit, I believe some Wynn and maybe Caesars people went to Cosmo at the very beginning. Line folks at least, if not execs....

I could see them rolling out the Cosmo brand, perhaps as a "collection". Next step, buy Revel, call it "Revel, a Cosmopolitan Collection Resort."

MGM or Caesar's hired to operate it with their large player databases makes the most sense to me cause that's all Cosmo needs, more gamblers.

@motoman (commenting on own comment here),
Well, duh. Must've forgotten all the yrs of TWHT and Vegas Gang Podcast. Of course, Unwin himself came directly from Caesars. (But I thought they had poached some other exec talent as well....)

Gonna go and fix myself an extra large Blood & Sand now. G'night....

the idea of a Cosmo brand is interesting - it could work much in the same vein as the W hotels.



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