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Cosmopolitan To Get New Casino, Suites, Bars and Restaurants

By Chuckmonster on Tuesday, 17th February 2015 9:46pm
  » filed under Las Vegas  comments: 14

   

Cosmopolitan

Months into their tenure as new owners of the Cosmopolitan of Las Vegas, Blackstone Group LP have outlined some of their plans to turn the popular yet unprofitable casino around.

The changes primarily revolve around increasing casino revenue, a task previous management has grappled with with since Cosmopolitan's opening in 2010. Blackstone is planning to spend approximately $200 million making upgrades designed to lure higher end casino players from China to stay, play, shop and dine at the Cosmopolitan.

As part of the process, Cosmopolitan's casino will undergo some targeted transformations. In addition to High Limit area and the Talon Room Cosmopolitan will up the ante on VIP gaming spaces and start offering different mix of games aimed for Asian high rollers.

Cosmopolitan will also sink some money into completing the top four floors of the East Tower, turning them into ultra-luxurious grand suites, containing high-end finishings, service and amenities specifically for VIP customers.

Additionally, Blackstone plans to open a cadre of new bars and restaurants in currently unoccupied spaces throughout the first three levels of the property. You can bet a dedicated Chinese restaurant or two will be one of the new offerings.



Tagged: cosmopolitan   blackstone   vip   casino   dining   booze   renovations   





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Comments & Discussion:

here's hoping the Asian high rollers like 3:2 blackjack. I stopped playing their double deck when it was all 6:5 for $25min, if they changed it to 3:2 again (like their lower limit shoe games, I might add), I would be there for sure. Great ambience, great drinks, servers, etc.

I always thought the casino looked fine but didn't have eenough players. There is more than enough space on the first three floors to add dining but the food options are just fine right now.

Interesting. Thanks for the WSJ article. I spent one hour in Cosmo last May. I'm not into "just the right amount of wrong", and I'm neither a high roller nor Asian. My first impression of the casino was that it was gloomy looking, and due to the dimensions of the narrow property, it looked like a shoebox. The finishes in the casino didn't look luxurious. I hope $200 million can add the perception of luxury which will appeal to high-end players. All properties may also have growing challenges attracting Asians if China's president continues on his current track.

I like Cosmo a bunch and I want to see it succeed as an independent property. My fear is that everyone wants Asian high limit action but you can't just make it appear as their Talon room thus far has shown. So I hope they not only up their game on the luxury level but find a way to actually get some of these players in the door. Just spending money doesn't solve that part of the equation.

Now most important... who is going to sneak into one of the new top floor suites for a VT exclusive walk through review? :-)

Would make the most sense for MGM to buy Cosmo and make it offically part of their City Center collection of hotels (everybody thinks it's part of City Center anywayy!lol). MGM's humongous player base would make the casino instantly profitable. The problem right now for players (like me) who want free/cheap rooms, is there's really no reson to give 'em their play since they have a very limited supply of rooms unlike MGM (or even Caesars) to comp.

I hesitate to endorse catering only to one group of wealthy people - whether it's British aristocrats of the 19th century, the Japanese of the 1980s, or the turn-of-this-century Chinese.

Why not also try to attract NYC hedge-fund managers, North Dakota oil wildcatters, Silicon Valley executives, and other demographics as well? And it's not just an American thing: Cosmo could find people in Germany, Arabian countries, and India to fit those first three demographics in order to not rely solely on people from China.

Cosmo does have a pretty solid lineup of restaurants but there's always room for improvement. Adding a Chinese restaurant makes sense, as while China Poblano does a good job with the Asian dishes on their menu, it doesn't cover all of the bases. While Jose Andres does have a few restaurants at Cosmo, he's also heavily involved with SBE in addition to his own restaurant empire in the Washington D.C. area. Perhaps Blackstone makes a deal with Jose Andres and SBE in regards to some new restaurant and bar spaces (Maybe open a sister location of Ku Noodle at Cosmo.) as well as potentially having them take over the Rose Rabbit Lie space (I don't see RRL sticking around too much longer unless some major changes are made.). Or perhaps Blackstone buys SBE and rolls the SLS brand into a new hospitality company that also includes the Cosmo (They could even potentially buy out Stockbridge's stake in SLS Las Vegas while they were at it.).

Cosmo is already a great property. They do need to continue working on gaming, but they don't need more restaurants and bars. The Talon Room is good conceptually, but the space is awkward in shape and location. They should Talon to the top floor and put in a great view bar.

I enjoy the bathrooms here. Cosmo, not VT.

Their gaming has been horrendously mismanaged. Absolutely terrible blackjack rules, even in the HL rooms. They have difficulty with their rating of high end players (50-100K theo)and commonly short them. They have some good dealers and have made some improvements with their comps but too commonly come across as not experienced with high end action.
Strange since they have poached some talent from places like Wynn.
This indeed is where some upside is, I really wonder if they will get it right and how their new projected clientel will get along in the same confines, at least moving through the common areas, with the Cosmo's hipster base.

I dislike the suites at Cosmo. Terrible floor plans and weird design quirks.
Would be curious to see what they do on these top 4 floors. Would love a Wrap Around Suite here, but just can't get past the decor, nor can I get past the hipster/douche clientele that seems to like to stay there. No offense intended for anyone who stays at the Cosmo BTW.

I would love to see them sink some cash into thr guest hallways and rooms. A complete disconnect from the podium levels .

So the Talon Club is moved upstairs and becomes a Sky Casino while the current space used by the Talon Club gets turned into the new Chinese restaurant?

Seems a reasonable plan.

Cosmopolitan is a clubby, under 40 oriented resort. They should focus on further monetizing and expanding what the resort does best and the clientele it already attracts. It's basically the W Hotel of the strip, you pay for the bar scene, design, and eye candy. You don't pay for white glove service and old money amenities. Asian high rollers have no need to go here unless they want to throw game on some Marquee chicks. There are other operators on the strip already well versed in their gambling and accommodation needs. Cosmo would be better off trying to steal deep pocketed college d-bag/party girl market share from Encore and others.



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