Skip to content
Subscriber Only

Deutsche Bank Said to Seek Sale of Cosmopolitan Resort

Deutsche Bank AG is in talks with potential buyers of its Cosmopolitan resort in Las Vegas as it tries to end a six-year, money-losing venture into casino development, people with knowledge of the matter said.

Germany’s largest bank is seeking more than $2 billion and has attracted at least four possible bidders, said one of the people, who asked not to be identified because the information isn’t public. Two others said it may be valued closer to $1.5 billion. Deutsche Bank foreclosed on the property after developer Ian Bruce Eichner defaulted on a construction loan in January 2008, and has labeled it a temporary investment.