The Cosmopolitan nightclub case boiled down to whether Moradi actually suffered brain injuries. A Las Vegas neurosurgeon said he did, and diagnosed Moradio with\u00a0a traumatic brain injury. His lawyers\u00a0argued that’s what led to his hedge fund’s collapse.<\/p>\n
Cosmopolitan’s defense claimed the hedge fund was failing before the incident, and that the victim didn’t suffer a brain injury, nor any permanent damage.<\/p>\n
The jury sided with Moradi, and the court’s $160.5 million award was based on damages and the loss of future wages.<\/p>\n
Moradi’s $160.5 million payday isn’t the first time the Cosmopolitan has been taken by a hedge fund member.<\/p>\n
First envisioned in 2004 by Soros Fund Management, the holdings company of billionaire George Soros, and David Friedman, a former Las Vegas Sands executive, the planned $3.9 billion under-construction project went into financial ruin when the 2008 recession hit.<\/p>\n
Deutsche Bank eventually took control of the resort, and\u00a0finally opened the casino\u00a02010. The Cosmopolitan was the only casino to open in Las Vegas that year.<\/p>\n
\nFour years later in 2014, the Blackstone Group bought the property at the discounted price of\u00a0$1.73 billion. That same year, Blackstone, a private equity asset management company and hedge fund, helped finance Amaya’s $4.9 billion buyout of the parent companies to PokerStars and Full Tilt Poker.<\/strong><\/p>\n<\/blockquote>\nBlackstone’s founder and CEO Stephen Schwarzman is a longtime Republican, who is also an informal advisor to another man who’s owned casinos, President Donald Trump.<\/p>\n","protected":false},"excerpt":{"rendered":"
A 2012 Cosmopolitan nightclub attack has resulted in a $160.5 million verdict for a patron who was brutally assaulted by resort security after he allegedly head-butted the Marquee Las Vegas general manager. Nongaming amenities and attractions are a huge draw in Las Vegas these days, and resorts are continually trying to enhance their mass-market allure. […]<\/p>\n","protected":false},"author":42,"featured_media":49224,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21,60,18],"tags":[],"acf":[],"yoast_head":"\n
Cosmopolitan Nightclub Lawsuit Awards Former Hedge Fund Manager $160.5 Million<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n