Cosmopolitan Shocks Its Employees With $5,000 Bonus
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The Cosmopolitan of Las Vegas rewarded its 5,400 employees with a surprise $5,000 bonus Wednesday. The resort gave $27m to its workers during a company gathering dedicated to private equity firm Blackstone’s near-ten-year control of the property before its imminent sale to MGM Resorts.
The Cosmopolitan resort in Las Vegas was sold to Blackstone in 2014 for $1.7bn. Blackestone invested $500m into the building's renovation. The COVID pandemic hit all Vegas properties hard, forcing the sale of the famed attraction. MGM Resorts met the $5.65bn asking price.
MGM Resorts has been selling properties in the wake of the pandemic. It has just bought LeoVegas for $607m. Its Cosmopolitan property is also now part of this portfolio.
