The Cosmopolitan in Las Vegas Becomes MGM Resorts Property

The Cosmopolitan Hotel, one of the more upscale, hip hotels on the Las Vegas Strip, has officially become a property of MGM Resorts International.

MGM finalized the $1.625 billion deal on Tuesday after negotiations with Blackstone Capital, parent company of The Cosmopolitan, according to News3 in Las Vegas.

"This is a big moment for our company and for the Las Vegas Strip. The Cosmopolitan of Las Vegas has already established itself as one of the Strip's premier resorts with an iconic brand, well-curated experiences, and a loyal customer base. We couldn't be more excited to bring them into our portfolio of world-class operations," MGM Resorts CEO and President Bill Hornbuckle said in a statement. "We're also thrilled to have the talented group of CoStars from The Cosmopolitan joining the MGM Resorts family. We look forward to improving upon The Cosmopolitan's already strong results by offering their customers access to the extensive and exclusive amenities and other benefits only MGM Resorts can provide."

The Cosmopolitan has been a chic addition to the Strip since opening in 2010. It boasts one of the residency theaters in Las Vegas in The Chelsea, and its pool/dayclub/nightclub scene at Marquee is a coveted location among the younger crowd.

The Cosmopolitan also has a rooftop pool above some of the most choice real estate in the city.

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