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[BREAKING NEWS 3:32pm 9/5/2013]KingOfNightclubs.com is first to report that the Cosmopolitan Hotel in Las Vegas has been sold according to our sources. Rumor has it that deal is being signed and their official announcement will come soon.

Allegedly James Packer, son of the Late Kerry Packer, An Australian media mogul, also owns Crown LTD, with casinos in Australia and Macau, just purchased The Cosmopolitan. The purchase of The Cosmopolitan comes with an approximate $3 billion dollar price tag.

Although NOT yet announced, sources confirmed that as soon as this deal became official, the first thing to go was the old casino reservation and computer system. A new system has already been installed and they have already moved the casino host desk to the front of the high roller gaming lounge to keep the casino hosts on the floor and out of the back of the gaming lounge.

Also, the VP of casino marketing in charge of all the hosts did NOT renew his contract which expired in August. More info to come.
 

[UPDATE #1 9/5/2013 7:50pm]

Robin Leach accredits KingOfNightclubs.com on Twitter for reporting sale of the Cosmopolitan.
 

 
Earlier this week, Robin Leach also accredited KingOfNightclubs.com for being the first to break the story of the abrupt shut down of Gallery Nightclub (Click here for VERY detailed Gallery Nightclub story). Read Robin’s full story in the Las Vegas Sun here: Click Here.
 

[UPDATE #2 9/6/2013 2:02am]

Yesterday, KingOfNightclubs.com was informed of a breaking story/rumor that our sources gave us with pretty heavy details on the selling of the Cosmopolitan. Although we are still digging for more details (if any), one person on Facebook asked news anchor Elizabeth Watts from Fox 5 News in Las Vegas if the rumors were true. She didn’t hear of any news at the time, so she did some investigative work and was contacted by the PR department at the Cosmopolitan. Below is a screen shot of the information Elizabeth received back.
 

 
On the website SlotFanatics.com, people were discussing this story in the forums and one person quoted, “This makes a hell of a lot of sense since when I was there Friday they were screwing around with a desk/table in the HL area right in the middle of the entrance and had a guy working on networking cable and power outlets. It all makes sense now…. Some Lady who didn’t look like a typical casino suit was telling some other suits how they wanted it.”

Is the Cosmopolitan not ready to make the announcement and holding back from releasing any news? I’m very intrigued by this story and looking forward to seeing how this all plays out.
 

[UPDATE #3 9/6/2013 10:14am]

Information came in this morning with reports from members of the Review Journal and Las Vegas Sun receiving news back from the Cosmopolitan hotel and they claim that the rumor is false. The images below are tweets from the respected members of the Las Vegas Review Journal and LV Sun.
 

A blogger that reported on this story at AC2LV.com quotes,

I contacted my original source this morning and I was told the announcement of the sale made by The Cosmopolitan wasn’t to be put out till after the upcoming Floyd Mayweather fight. Not sure why it would be timed as such, but this keeps my interest and I’m not giving up on this rumor just yet. I will have more later today on this story.

For the record: To the blogger above that states “this is not a news site”, KingOfNightclubs.com IS a credible news site from an insider that happens to also provide solutions for people needing assistance with their planned vacations to Las Vegas and other cities. Just to clarify.

[UPDATE #4 4/19/2014 2:38pm]

Official news finally came out that the Cosmopolitan hotel IS being sold for approximately 2 billion dollars and there are 4 bidders. My sources tell me that James Packer COULD possibly be one of those 4 bidders. More to come…
 
[UPDATE #5 4/29/2014 12:38pm]
The Wall Street Journal has confirmed my original rumor to be true that James Packer IS in fact looking to buy the Cosmopolitan hotel. Read their latest story HERE.

 
 

Joe Vargas has been an expert in the nightlife & entertainment industry for over 9 years and continues to provide you with real reviews, opinions and news about the industry. He’s known for “telling it like it is.”

Twitter: www.Twitter.com/joevargas
Facebook: wwww.facebook.com/Kingofnightclubscom
Instagram: www.instagram.com/kingofnightclubs



7 Comments

  •  
    Kristina

    September 5, 2013 at 7:42 pm

    Great report! Can’t wait to see what comes of this

  • Pingback: Rumor Has It That James Packer Purchased Las Vegas Casino | Hotel, Casino, Events and Info - Atlantic City to Las Vegas AC2LV

  •  
    Lurker

    September 6, 2013 at 11:13 am

    While the sale may be possible (Cosmo has always been for sale), your informant is sorely mistaken on all the other items. The reservation system was merely an upgrade and had been planned for months. The host desk was to make hosts more accessible for guests. The VP of marketing was recently promoted and left on his own accord.

    If I spent 3 billion dollars, I’m pretty sure there are other things I work change as my first steps to make a difference and my mark than a computer upgrade and moving a desk.

  •  
    Cosmo employee

    September 6, 2013 at 11:44 am

    LURKER, I don’t know why your information is so subtle, but I don’t think that this story would stem from someone moving a desk. the story simply said that the VP didn’t re-up his contract, but from what I understand from fellow employees, they couldn’t come to an agreement. This is an exciting rumor.

  •  
    lurker

    September 6, 2013 at 12:13 pm

    Just what I’ve heard from a long time friend who works there and would know. I’m sure it is exciting for employees there regardless.

  •  
    Mountain Man

    September 6, 2013 at 1:39 pm

    I’m with the Cosmo employee on this one. This guy seems to be pretty knowledgeable and connected from what I read on this website and he shared some interesting facts. I don’t think it stemmed from a simple desk being moved. I asked an executive friend over at Cosmo today about this story and he says he can’t comment much on any of the details. It makes me wonder… Only time will tell.

  •  
    Butler

    May 15, 2014 at 12:28 pm

    Dumbass.

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