Cosmopolitan of Las Vegas first quarter loss $56.8 million
Cosmopolitan of Las Vegas casino hotel ran up a bill of $56.8 million in operating losses for the 1st quarter. This is the first full-quarter report filed by the Deutsche Bank owned Cosmopolitan of Las Vegas following the December, 2010 grand opening (photos).
Even though the resort has been posting room occupancy numbers that are inline with other top tier strip properties and Cosmopolitan room rates top the list the 1st quarter losses point to be a combination of problems. Obviously, the depressed economy, rising fuel cost and a casino that is smaller contribute to the lack of profits. Could the absence of a poker room be a part of the overall problem?
