The multibillion-dollar sale of The Cosmopolitan marks the latest in a string deals on the Strip between two powerhouse companies and another investment on Las Vegas Boulevard from the CEOs of fast-food chain Panda Express.
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The Blackstone Group has reached an agreement to sell The Cosmopolitan of Las Vegas in a deal valued at $5.65 billion, with MGM Resorts International acquiring the resort operations for $1.625 billion.