Deutsche Bank’s $4 Billion Las Vegas Bet

Publisher Anthony Curtis is quoted in the New York Times’ “Dealbook” blog about The Cosmopolitan’s difficulty in attracting gamblers.

April 18, 2011

After running into cash-flow problems, Bruce Eichner, then the owner of the casino and a developer mainly known for high-end residential properties in New York and South Beach, defaulted on his $768 million construction loan from Deutsche Bank. The lender foreclosed on Mr. Eichner and took control of the property, one of the first signs that the city was headed for hard times.

“It’s a story that’s closely linked to that of Las Vegas’s fortunes,” said Anthony Curtis, a former professional gambler who now runs the Web site Las Vegas Advisor.

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