{"id":53303,"date":"2017-06-27T17:00:36","date_gmt":"2017-06-28T00:00:36","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=53303"},"modified":"2017-06-27T17:03:33","modified_gmt":"2017-06-28T00:03:33","slug":"new-cosmo-penthouse-suites-technically-free-possibly-expensive","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/new-cosmo-penthouse-suites-technically-free-possibly-expensive\/","title":{"rendered":"New Cosmo Penthouse Suites: Technically Free, But Possibly Very Expensive\u00a0"},"content":{"rendered":"

The 21 new Boulevard Penthouse suites at the Cosmopolitan in Las Vegas<\/a> boast balconies overlooking the Bellagio Fountains, $56,000 bottles of Louis XIII Black Pearl cognac in the drinks cabinet and all come with a fleet of chauffeured luxury SUV\u2019s at your beck and call.<\/p>\n

\"Cosmopolitan
Bloomberg got a sneak peek inside some very exclusive but technically free Penthouse suites at the Cosmopolitan this week. (Image: The Cosmopolitan of Las Vegas)<\/figcaption><\/figure>\n

Each interior is unique, created with luxury in mind by world famous interior designer Adam Tihany, and come complete with resin panels trimmed in 24-karat gold and a grand piano (white, of course). You\u2019ll even get a personal butler and your own private gaming room.<\/p>\n

But the best bit is, staying here is free. Yep, these rooms don\u2019t cost a cent to rent, not a bean. All you have to do is guarantee you\u2019ll buy-in for a million bucks at the gaming tables at the Reserve, the Cosmopolitan\u2019s high-roller lounge.<\/p>\n

This is part of the casino\u2019s plan to attract more high-rolling whales to the property, as reported by Bloomberg this week. The rooms have been vacant since it opened in 2010.<\/p>\n

But the big news is, Mr Tihany has now finished painting the skirting boards and the suites are open for business: the VIP business. \u00a0 \u00a0<\/span><\/p>\n

Shifting Dynamics<\/b><\/h2>\n

The renovation was financed by the Blackstone Group, which bought the property in 2014, as part of a five-year plan to establish the Cosmopolitan<\/a> as a bona fide high-roller destination.<\/p>\n

With a smaller casino operation than many of its counterparts on the Strip, \u201cthe Cosmo\u201d has relied on its reputation as a culinary and clubbing hotspot to bring in the crowds.<\/p>\n

\n

That makes a lot of sense in a climate where gaming revenues are falling and younger people are heading to Vegas in droves, but for the food and non-gaming amenities rather than the table games and slots.<\/strong><\/p>\n<\/blockquote>\n

But the Strip properties still need their casinos and its precisely because of the Cosmopolitan\u2019s casino limitations that it needs more VIPs to bump up that bottom line.<\/p>\n

Players Not Stayers<\/b><\/h2>\n

Brian Benowitz, senior vice president of casino operations, told Bloomberg he believed the new suites will add 10 to 20 percent to the casino\u2019s net earnings.<\/p>\n

Previously, he said high-rollers would go elsewhere to play high stakes because of the lack of VIP suites at the hotel.<\/p>\n

\n

\u201cThey were players and not stayers,\u201d he said. \u201cPeople play more where they sleep. We\u2019re not overly concerned if a room goes vacant because there\u2019s an opportunity cost of getting someone in there,\u201d he added. \u201cThey\u2019re not at the same occupancy as the rest of the hotel, but on weekends? The demand is astronomical.\u201d<\/strong><\/p>\n<\/blockquote>\n

But first, prospective guests have to clear some security checks, including submitting\u00a0 <\/span>financial details to casino officials and the Gaming Commission and, of course, proffering your million-dollar buy-in. \u00a0 \u00a0<\/span><\/p>\n

OK, in one sense that makes them not at all free, and possibly the most expensive hotel rooms in the world, but not if you get lucky at the tables.<\/p>\n","protected":false},"excerpt":{"rendered":"

The 21 new Boulevard Penthouse suites at the Cosmopolitan in Las Vegas boast balconies overlooking the Bellagio Fountains, $56,000 bottles of Louis XIII Black Pearl cognac in the drinks cabinet and all come with a fleet of chauffeured luxury SUV\u2019s at your beck and call. Each interior is unique, created with luxury in mind by […]<\/p>\n","protected":false},"author":42,"featured_media":53312,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,18],"tags":[],"acf":[],"yoast_head":"\nNew Cosmo Penthouse Suites: Technically Free, But Possibly Very Expensive\u00a0<\/title>\n<meta name=\"description\" content=\"Cosmo Penthouse suites at the Cosmopolitan require guests agree to buy-in for $1 million. \u00a0 \u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/new-cosmo-penthouse-suites-technically-free-possibly-expensive\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New Cosmo Penthouse Suites: Technically Free, But Possibly Very Expensive\u00a0\" \/>\n<meta property=\"og:description\" content=\"Cosmo Penthouse suites at the Cosmopolitan require guests agree to buy-in for $1 million. \u00a0 \u00a0\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/new-cosmo-penthouse-suites-technically-free-possibly-expensive\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2017-06-28T00:00:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-06-28T00:03:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/06\/800x-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"562\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Casino.org Staff Writer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Casino.org Staff Writer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/new-cosmo-penthouse-suites-technically-free-possibly-expensive\/\",\"url\":\"https:\/\/www.casino.org\/news\/new-cosmo-penthouse-suites-technically-free-possibly-expensive\/\",\"name\":\"New Cosmo Penthouse Suites: Technically Free, But Possibly Very Expensive\u00a0\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/new-cosmo-penthouse-suites-technically-free-possibly-expensive\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/new-cosmo-penthouse-suites-technically-free-possibly-expensive\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/06\/800x-1.jpg\",\"datePublished\":\"2017-06-28T00:00:36+00:00\",\"dateModified\":\"2017-06-28T00:03:33+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77\"},\"description\":\"Cosmo Penthouse suites at the Cosmopolitan require guests agree to buy-in for $1 million. \u00a0 \u00a0\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/new-cosmo-penthouse-suites-technically-free-possibly-expensive\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/new-cosmo-penthouse-suites-technically-free-possibly-expensive\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/new-cosmo-penthouse-suites-technically-free-possibly-expensive\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/06\/800x-1.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/06\/800x-1.jpg\",\"width\":800,\"height\":562,\"caption\":\"Bloomberg got a sneak peek inside some very exclusive but technically free Penthouse suites at the Cosmopolitan this week. 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