Cosmopolitan Casino Faces Foreclosure
Deutsche Bank has taken the initial steps toward foreclosure on the $3 billion Cosmopolitan Casino project. The developer and owner Ian Bruce Eichner is looking to find new investors, but the construction loan from Deutsche Bank of $760 million has fallen into default, putting the whole project at risk. The massive hotel and casino is still under construction at the moment, with a planned launch for 2009, which was pushed back from it's original 2008 opening. The project is located between the Bellagio casino resort and the CityCenter casino complex on the Las Vegas Strip, and was different in that about 3,000 hotel rooms were to be condo-hotels.
You can view several pictures of the construction site over at Las Vegas Rex HERE.
(via Luxist)
Posted by Ghostshark under Vegas | Comments (0)