Casino employees were blown away by the unprecedented bonus!
Last night one of the city’s most iconic casinos surprised its employees with a $5,000 bonus! The unprecedented gift was announced during a special event The Cosmopolitan held on Wednesday. The casino’s CEO, Bill McBeath, made the surprising announcement at the end of the celebratory event.
The event was held to highlight Blackstone, the private equity firm at the helm of The Cosmopolitan since 2014. The Cosmopolitan is currently being sold to MGM Resort International and a real estate firm, so the event and stunning bonuses are a thank you to employees.
The head of strategic investments for Blackstone Real Estate, Tyler Henritze, stated the following. “We know that none of that would have been possible without the hard work and dedication of the resort’s amazing employees, and we are thrilled to recognize those contributions.”
A total of $27 million were spent on The Cosmopolitan employees.
The hotel and casino was purchased by Blackstone for $1.7 billion back in 2014, and Blackstone spent about $500 million remodeling all the rooms, restaurants, and casino floor. During the Covid 19 pandemic, the group decided to sell the upscale casino for $5.65 billion! MGM Resorts has already paid $1.6 billion of the total $5.65 billion to assume its operations. The rest of the money will be paid by real estate investment firms.
Many of the most iconic Las Vegas casinos are exchanging owners. Just a few weeks ago, The Palm opened its doors for the first time since being sold. And MGM Resorts announced it was selling The Mirage to Hard Rock International for over $1 billion.
Featured image: Alen Ištoković