Cosmopolitan of Las Vegas opened its doors to the public on schedule Wednesday, as curious locals joined tourists in exploring the Strip’s latest hotel-casino and likely its last one to open over the next decade as Las Vegas and the gaming industry recover from a weak economy.
Construction workers at The Cosmopolitan of Las Vegas can relax after spending years building and putting the final touches on the multibillion-dollar resort that debuts tonight on the Strip.
Analysts believe Singapore’s two casinos will produce gaming revenues of more than $5 billion in the island nation’s first full year of legalized gambling.
Even before The Cosmopolitan of Las Vegas opens Wednesday, gaming industry analysts are saying that to succeed financially the hotel-casino will have to offer something different than what is found at other properties along the Strip.
John Unwin understood that there was some risk when he decided last year to leave Caesars Palace after five years to take control of a half-finished, multibillion-dollar resort project that many in Las Vegas thought would never be completed.
As time is quickly running out for Senate Majority Leader Harry Reid, D-Nev., to find bills to attach his online poker legalization measure to before the end of the current congressional session, efforts to approve online gaming in New Jersey are moving forward.
The last time casinos in downtown Las Vegas reported a double-digit increase in their monthly gaming revenues was June 2008 — which was also the last time gaming revenues actually increased in the troubled market.
