Last week news broke that Blackstone is placing a big bet on Las Vegas with a $1.7-billion ante for the Cosmopolitan, a 3,000-room hotel and casino that has been a double-down bust for Deutsche Bank.
According to a recent Wall Street Journal article, Blackstone is making a big bet on Vegas with over $3.5 billion invested in single-family homes and industrial properties to compliment the Cosmopolitan investment.
I like Blackstone's bets. When a market is on its back—like Vegas—that's the time to make opportunistic bets, and Blackstone has the chips to cover the table.
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