The Cosmopolitan, a leading contemporary luxury resort and casino, opened in December 2010 and underwent significant capital improvements following Blackstone's acquisition of the property in 2014. In the trailing 12 months ended March 31, 2022, The Cosmopolitan generated $1.1 billion of net revenue and $416 million of adjusted EBITDAR. '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.' We couldn't be more excited to bring them into our portfolio of world-class operations,' said MGM Resorts CEO and President Bill Hornbuckle. 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. 'This is a big moment for our company and for the Las Vegas Strip. With the closing of the transaction, The Cosmopolitan of Las Vegas officially joins MGM Resorts' roster of iconic brands along the Las Vegas Strip. LAS VEGAS, /PRNewswire/ - MGM Resorts International (NYSE: MGM) ('MGM Resorts' or the 'company') today announced the closing of its transaction with Blackstone to acquire the operations of The Cosmopolitan of Las Vegas (the 'property' or 'The Cosmopolitan') for cash consideration of $1.625 billion.

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