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Deutsche Bank Doubles Down With a Casino

By Joe Kelly

Real Estate Agent with Pacific Sun Capital - Commercial Bridge Loans & Investments

November 23, 2010 12:37 PM

LAS VEGAS—Wall Street is continually
criticized for being one big casino.
Deutsche Bank is now taking those
words to heart. It has just spent $4
billion to open a big casino on the
Strip here.

Read more on this story from
Wall Street Journal here

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Emily Medvec

eXp Realty LLC - Santa Fe, NM

Broker | Realtor | Serving Santa Fe & Northern NM

Hmm... I wonder if Wall Street will now move to Las Vegas! Also wondering what the FED regs are on this kind of business expansion. Thank you for the heads up.

Nov 23, 2010 12:52 PM

Robert Vegas Bob Swetz

Las Vegas, NV

Hello there and I have been working on this building "The Cosmopolitan of Las Vegas" for around 2 years now. Grand Opening is set for December 15th 2010 and it is a beautiful Hotel, Resort & Casino ...

Vegas Bob

Nov 23, 2010 12:56 PM

Suzy Ribeiro

Douglas Elliman Real Estate - Quogue & Westhampton Beach - Quogue, NY

Douglas Elliman Real Estate Hamptons & North Fork

Kaching ! Kaching ! Heil Deutsche Bank. Is buying a casino safe real estate ?

Nov 23, 2010 01:41 PM

Renée Donohue~Home Photography

Savvy Home Pix - Allegan, MI

Western Michigan Real Estate Photographer

Well Deutsche already owns some big projects here and they are holding on to them and not putting them up for sale until better times.

With 15% unemployment Suzy, and our gaming & convention numbers down - I don't believe it is safe real estate. Deutsche of all entities should know what makes the world go round - money and corporate credit being cut really hurt our numbers across the board. One thing we don't need is 3000 more hotel rooms with an unlimited purse to back it up. That means they will slash rates on rooms (just to get players in the casino)and all of Vegas will follow suit. Deutsche will end up owning more!

Nov 23, 2010 02:14 PM

Joe Kelly

Pacific Sun Capital - Commercial Bridge Loans & Investments - Houston, TX

Bridge Loan Financing - Commercial Hard Money Loans

Definitely sounds like a bottomless pit. Should be interesting to see how investors react if this "gamble" starts to cost Deutsche Bank more money. Who knows, Vegas might start to get re-branded like the sports arena's. Before long the Cosmopolitan will be called the Deutsche Bank Casino, and so on. I wonder who will get to rebrand the other struggling casino's like MGM.

Nov 24, 2010 06:15 AM

LOL but not so LOL Joe @ rebranding ;)

Nov 24, 2010 10:50 AM

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