Well into its major renovation project, The Cosmopolitan of Las Vegas is now converting the area once occupied by its race and sports book into a food and beverage concept.
The Las Vegas Review-Journal reports that according to county records, $2 million worth of work has been done transforming the area that was once utilized for the most part for the race and sports book, into a food and beverage market.
Originally designed as a luxury condominium, The Cosmopolitan of Las Vegas was taken over by Deutsche Bank in 2008 after its owner defaulted on loans. After spending $4.1 billion converting the building to a hotel-casino, the bank opened what was the most expensive casino project in Las Vegas history, on December 15, 2010.
The property was acquired from Deutsche Bank in May 2014, by NYC-based multinational private equity investor Blackstone Group L.P. for $1.73 billion.
Its first major renovation since opening, The Cosmopolitan is investing more than $100 million on a complete upgrade of 2,895 rooms which it launched in June last year beginning with the Boulevard Tower. Having completed the first tower in December, the floor-to-ceiling renovation of the Chelsea Tower is expected to be completed by the end of 2018.
The Cosmopolitan’s race and sports book was moved from its former location at the Boulevard Tower’s second level to the main casino floor in 2016.