"The good news from a market perspective is that the project goes forward as opposed to sitting there idle and leaving a big question mark on the Strip. So it's got some direction." said John Knott, executive vice president of the Global Gaming Group for CB Richard Ellis

Knott said he expects that Deutsche Bank will keep evaluating potential associates and investors. The bank stated that it is currently negotiating with several companies to operate the casino, and that they will announce their final decision in the future months. However, Deutsche Bank did not mention if the Cosmopolitan opening will be delayed or if it still has plans to put up the Cosmopolitan project for sale after the credit and economical turmoil cools off.

Deutsche Bank contracted 5 companies to help finish the project after the initial developer, Eichner, faced a series of financial problems this year. Eichner bought the 8.5-acre area located between CityCenter and the Bellagio in 2004 to develop the Cosmopolitan project. However, the $2 billion budget originally calculated in early 2006 to build the Cosmopolitan increased to its current $3.9 billion price, a situation that distressed the funding banks and that finally ended burying the project.

Deutsche Bank is using an affiliate, Nevada Property I, to take over the project and will continue organizing and supervising the design and construction works assigned to W.A. Richardson Builders and Perini Corp. Deutsche Bank also signed an agreement with Las Vegas-based architect The Friedmutter Group and Miami-based Arquitectonica to design resort and casino interiors and decoration.