Cosmopolitan in Vegas Plans to Spend $890M to Open

LAS VEGAS -- The Cosmopolitan of Las Vegas hotel-casino says it has at least $890 million to spend this year to get its resort up and running on the Las Vegas Strip.

The Deutsche Bank-owned resort said in a regulatory filing Monday it plans to spend about $625 million on construction and another $265 million on furniture, fixtures and other equipment.

The nearly 3,000-room hotel is expected to open most rooms Dec. 15, with about 1,000 rooms delayed until next July. Hotel officials say the resort lost nearly $3 million during the second quarter. It didn't get any significant revenue because it's still under construction.

The Cosmopolitan reported having $19.2 million in cash.

(Copyright 2010 by The Associated Press. All Rights Reserved.)


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