The Cosmopolitan recently renovated 3,000 rooms. The deal is expected to be finalized in the first half of 2022, according to the Las Vegas Review-Journal. In September 2021, MGM Resorts International purchased The Cosmopolitan from the investment company Blackstone as part of a $5.65 billion deal. The Palms complex includes a casino, a hotel with more than 700 rooms, the Palms Place condominiums, convention space, multiple dining options, a 2,500-seat theater, pool and spa. The Palms, which doesn’t sit on the Las Vegas Strip, is temporarily closed, but in mid-December, the San Manuel Gaming and Hospitality Authority announced in a press release that it plans to open the Vegas property in the spring. In the first half of 2021, the San Manuel Band of Mission Indians announced plans to purchase The Palms in Las Vegas for $650 million. The results of those deals, plus more construction and big-name entertainment residencies are what’s ahead for 2022. Last year also saw significant acquisitions on the Strip and beyond, including the San Manuel Band of Mission Indians’ purchase of The Palms. In 2021, Las Vegas had some big openings such as luxury property Resorts World Las Vegas and the Virgin Hotels Las Vegas, the latter a new resort property built at the former site of the Hard Rock Hotel & Casino.
